All Forum Posts by: Marc Carlson

@Jacob Colvin 

Welcome.  What type of investing are you interested in, or are you interested in being a Real Estate agent?  Start by listening to the podcast and reading the forums.  

As someone new to real estate, you should be the one asking a lot of questions.  There are a lot of experienced investors and Realtors on Bigger Pockets with a wealth of knowledge, but you need to seek it out, no one is going to go to you and ask what you need.  

Good luck on your new adventure

@Sharene Long 

Welcome to the site if you have not already, read the Ultimate Beginners Guide.  It is a great tool when starting out.

http://www.biggerpockets.com/real-estate-investing

And of course, as @Jon Klaus suggested listen to the podcasts, they are rich with information about investing of every kind.

Good luck.

Marc

"You must do the things today that others will not do so that you can have the things tomorrow that others will not have.” 

Anonymous

Thank you for the advice.

@Michael Seeker The warm weather is a big reason why I want to move south.  I agree that it is a bad idea to invest in an aria that you are not familiar.  I will do as Anthony suggested and do the research on the aria before hand.  I have enough resources here that I can get a property manager here in RI.  I could hold it for a few years, then sell it as you suggest using the 1031 to buy a home in Georgia.

This is something to think about, thank you again for the help.

I am looking to buy my first investment home soon, I would like to buy and hold for the cash flow.  The question I have is that we will be moving from Rhode Island to the Savannah Georgia aria next summer.  I have three options, and would like to get some opinions on them.  

I can buy a property here in Rhode Island, and become an out of state landlord when I move.  This is the option I like the least, and will probably not go this route.  

I can buy a property in the aria that I will be moving to before we move, and be an out of state landlord for a few months until we move, or I can wait until we move to find a property.

I would appreciate any thoughts and opinions that any of you have that would help me make this choice.

What you paid for it, or what you put into the property does not matter.  All that matters is what the home is worth now.  If the market dropped and you were under water on the property, would anyone care? NO!  You do not need to justify to anyone what you are selling it for as long as the market supports your price.

Hi @Peter Mckernan 

This is certainly not a new argument, they have been predicting the demise of the Realtor for years.  However, if you look at the data, it shows the exact opposite, as buyers end up with information overload.  It is true that most people looking to buy a home first look online, they eventually look to a Realtor for guidance.  There is no doubt that technology has changed, and will continue to change, how we do business.  I don't think technology will replace the Realtor any time soon. 

Hi Kevin,

Welcome to BP!  I would love to connect and "talk shop."  I am looking to buy and hold multfamily properties here in RI.  

Go Pats!

@Wayne Brooks @Jay Hinrichs  Ultimately, it is not up to us as Realtors, it is up to the sellers and buyers.  I may not have been clear with my statement before.  We do not have the right to tell a buyer that they can not present the offer to the seller.  It is our job to ask the seller if they are OK with it, the decision is up to them.

From the Realtor Code of Ethics:

• Remember that the decisions about how offers will be presented, how offers will be negotiated, whether counter-offers will be made and ultimately which offer, if any, will be accepted, are made by the seller—not by the listing broker. (Revised 5/01)
• Remember that decisions about how counter-offers will be presented, how counter-offers will be negotiated, and whether a counter-offer will be accepted, are made by the buyer—not by the buyer’s broker. (Adopted 5/01)

Low ball, Low ball, Low Ball!  Don't ever be afraid of offering a low offer.  The worst thing they will say is no.  If the numbers don't work then walk away!  Don't put yourself in a situation where you pay too much for the property.  In the end, you will be the one who looses money, and the seller will not feel bad for you!  Trust the Numbers.

Happy Investing