All Forum Posts by: Melissa W.

Thank you for your tips gentlemen.  I must have not articulated my words properly.  I was pretty lucky in Real Estate when moved our here from back east in the 90's.  I bought my first two properties in Newport beach when the market was low.  I also bought a few properties from individuals that were going through a divorce.  I did get a property in the mountains that was 50% below market value in Running Springs.  I drove up in a blizzard to get the deal completed.  After renting the property with positive cash flow, I sold it a year later and made double from what I paid plus $20,000.  Even back then the deals were hard to find.  There was always another investor one step behind me, and I mean that literally. lol

I realize that it takes persistance, patience and dedication to make these deals work in the Real Estate investment world.  I am not afraid of hard work to secure my future. 

Thank you again for all your comments.  I enjoyed reading them, and I am willing to keep on learning.  

Melissa

Well said Josh!

Hi Jon,

First I want to say, "don't get frustrated."  It takes time to get comfortable in investing.  You are still in the learning stages.  

Secondly, run from that Realtor as fast as you can.  He is not giving you good advice.  The best way to find a good Investment Realtor is by word of mouth.  If you have investor clubs in your area then sign up for one.  It is a great way to meet seasoned investors that may be able to send you in the right direction.

Don't give up, stay positive and be persistent!  I bought a few properties in the past with no money down.  I had Realtors tell me the same thing, so I dumped them and found a Realtor that could help me with my goals.  I bought the property I live in now, with the current owner financing the 20% down with 8% interest.  He was retired and was moving out of state to live in a senior community.  The homes around me at the time were selling for 1.2M.  I purchased my house creatively for $540,000.  The current owner originally was asking $1M then it went down to $890,000.  He already had three offers for $540,000, but he turned them down.  I had a great investment Realtor and we went with a different approach.  It was an emotional sale for him.  He was the original owner and his wife and children grew up in the home.  It was a win win deal.  He made 8% on the 20% down that he carried in a short period and we got an affordable house in an expensive area!  Our home is worth 1.1M today. 

In conclusion, don't let anyone bring you down.  Keep yourself in the presence of positive people, and people that have your best interest, not there own.

And to you Ohio, "keep your negative words to yourself!" If you don't have something positive to say, then don't say it at all!

Hope that helps you.

Good luck!

Melissa

Thank you Josh. I will check out the site.

Melissa

Hello again.  I should have searched this before asking a stupid question (LOL)?  Jerry Puckett is a person who talks about real estate investing.

Sorry. I answered my own question.

I enjoyed reading your success story though.

Melissa

Hello, I have a question?  I am new to this site and I do not know what @Jerry Puckett is?  How did that help you and can that help me in Southern CA.  I now you are from a different state.

Thank you.

Melissa

Hi Josh, Can you recommend any investor realtors that have access to distressed properties in Down town Riverside.  Our company specializes in rehabs and distressed properties to flip.

Thank you.

Melissa

Hi, you cant be afraid to low ball an offer even if your agent says the seller will never except.  I bought two properties successfully using that strategy.  The first property that I bought that way was selling for $440,000, but he did not do any upgrades and had to move out of state.  I waited two months and no body put offers in. So I put an offer in at $320,000.  I figured he would come back at $350,000, but he countered at $340,000. I took it!!  The second property was in the mountains in Southern CA and was selling for $84,000.  I drove up in a blizard because the realator said the owner just wanted to get rid of it and I got that for $54,000.  It was in perfect rental condition.  Did not have to do any work what so ever.  I rented it out for a yea,r and when the year lease was up I sold it for $120,000.  I put that profit into the house I'm living in today.

Hope that helps you.  Also, if you choose to flip, be aware of hidden costs and make sure you do the numbers properly.  Do your research on all the hidden costs that realtors do not enclose.  Remember, they just want there commission.  It is up to you to do the research.

Melissa

Hi, I am noticing the HUD lists and Forclosure sites that claim to have free listings then when you sign up it says they cost $1 and then my cc will be charged ranging from $30 to $50 a month depending on the site. Are there any sites to look at distressed properties for free? Thank you.

Melissa