All Forum Posts by: Mark Houghton

@Mark Ferguson thanks, makes sense. How about a situation like Travis Daggett explained in podcast 38 - what happens if you have more then one bid out and they are both accepted?

@Stan Butler I know my broker is currently HUD authorized. I just got my real estate license this past week and plan on bidding on properties for myself. Is this kosher Mark?

@Edward Burns thanks for the heads up I'll make sure I have the time in advance to complete all documents.

@Robert Brubaker I do have any necessary cash required on hand so that's not an issue. If the documents are not submitted timely what do you mean they request the deposit? What would the deposit be for? I'm certainly not taking the situation lightly which is why I'm on biggerpockets!!!

Thanks for the info !

I have been researching HUD homes in my region and have found a few I am willing to put an offer in on. I recall in podcast 38 Travis saying he would put in hundreds of offers on homes through a virtual assistant and if he wasn't interested not interested in that property he would not send in the earnest money. How can you (or your VA) make legitimate offers without EMD? Do you email the listing agent? Call them?

Congrats Chris.

How did you come across this property? How did you search comps for similar properties?

@J Scott thanks for the great info. I also enjoyed your podcast and thought there was so much invaluable information there. If I'm remembering correctly you maxed all your cards out on your first flip. Yikes. Glad to hear you used that as a learning experience and we can all now use that as a learning experience as well.

@Koel Gaylord I recently received my NJ real estate license. Currently not investing in real estate but preparing to dive in. One additional benefit of having your Real estate license other than MLS access is the fact that you can work on your own schedule when looking for houses to buy. You won't have to wait for a realtor to show you the properties, you will be able to check them out yourself.

Hey Ned,

I've enjoyed reading some of your other posts and found this very interesting. I'm looking to get into real estate investing and one huge barrier for me is entry strategy. From what I've read it seems as though real estate investors (in my case potential investor) always talk about exit strategy, understandably. How did you go about locating this property, or any other investment property for that matter.

From what I've read this far it seems as though people are finding good investment properties on the MLS, via direct mail and other marketing techniques, as well as word of mouth (possibly from reo agents). Curious to see which avenue brought you to this property!

@Michael Rivera I have considered the FHA route. Being analyzed by the money I COULD earn makes me hesitate. However, being an owner occupant is something I would absolutely consider. A lot more reading to do on this for me.

@David T that's great to hear you already have multiple properties. You may not think you have much experience but you are further along than me as you indicated. I would absolutely be open to the opportunity of a meeting. I'm sure we will be able to help each other in many ways. Buy and hold is certainly something I am looking to do as a long term investment.

@Jhn Moore Thanks! I have a few contacts in the real estate industry in my area. As a matter of fact I will begin working out of an agency by the end of this week. I'm fairly confident in my sales skills and marketing as my current occupation requires these essential skills but I obviously have a lot to learn in the RE industry. Good idea with the over 55 communities. I have identified some affordable properties in 55+ communities in my area. Do you know if an investor can be under age 55 to purchase one of these properties? I'm sure this varies state by state and/or association by association.

Would like to start off by thanking everyone one BP who has contributed and currently contributes to the success of this forum. I've been scanning BP for sometime now and have learned a tremendous amount about real estate investing which has left me with many questions.

I'm a 24 year old college graduate who is passionate about real estate. After graduating from college and in the hunt for a job I decided to use my spare time to fulfill one of my life long dreams - obtain a real estate license. After a few months of classes and two attempts at the exam I managed to pass and now have my New Jersey Real Estate License. This being the case I do have a general understanding of real estate, but obviously no where near the experience or expertise to get started (or so I think).

I currently work as a healthcare administration professional and with all the impending changes to the healthcare system day to day operation is a nightmare. My ultimate goal is to be able to leave my current job in no more than 6 months. I would like to purchase my first property in the coming months and have never been more excited to start any project in my life. However, even after spending hours upon hours each day sifting and reading through all the BP threads and articles I still find myself unsure about how/where to start.

A little about my financial history. With having a college degree generally comes loans, and unfortunately I'm no exception to this rule. I have a large sum of outstanding debt that is the equivalent to paying rent for a decent sized apartment each month. With having said that I do have a DECENT paying job - not bad, not good either (as in most Americans case) - but it does bring money in to cover the bills and save a couple bucks at the end of each month. I have managed to save just upwards of $20,000 to invest. But where to invest it is my main question. I know what I want to do, fix and flip. At least to begin with.

I'm not here looking for answers, but I am here to learn as much as I possibly can before I take the plunge and chase my dreams. Of course, family and friends generally think I'm being overly ambitious and tell me my goals are nothing but dreams. This serves as motivation for me as I don't like being told I can't do something. I'm completely open to holding phone conferences, meeting face-to-face, or emailing others in the industry whether it be to help someone else if possible, to make a new contact, or simply to listen to someone else's plan taking away any knowledge I can. I can guarantee I will continue reading all of your threads and very much look forward to it. I hope to contribute positively to this forum especially as my knowledge and experience grow. Thanks for reading my story!