All Forum Posts by: Rachel Hertel

Thank you all for helping to point me in a good direction.

@Scott Wolf I have toyed with that idea, and actually found some handwritten letters from back in the 70s trying to convince our family to sell it back to them. I've found home addresses for the owner and siblings, so I may write him a letter since I can't find an email address. That does seem to be an easier route for me, although I'd probably let this potential buyer know before I do so.

@Wayne Brooks I didn't know they could do so. I guess I'll just have to be a bit more pushy. I should hopefully get some answers from the escrow officer who did the title work today.

@Peter Walther I will do that today; thank you!

I am in contact with a potential buyer for a tiny lot I own in Hot Sulphur Springs in CO. When our real estate agent got the title work back, it said that once the land is sold, the legal access to it is gone (I would assume the owners of the larger parcels around the lot had good lawyers to put this in for the few tiny lots still scattered across their land.) He got us in touch with a potential buyer, and we cancelled our contract with the agent, since it wouldn't be a good deal for him (or us.) The buyer said that even though he understands that he could end up not having access to the land, he'd still be willing buy it for a low price just in case he can figure out a way to access it. So right now we're in the process of how to secure a safe transaction. He feels a lawyer is too expensive. Additionally, the title company said that they couldn't close without insurance, and that they couldn't write a policy for land without access. If this is true, would paying for the lawyer be the only way to go, or do we have other options in regards to a third party taking care of the transaction? The purpose in selling this is to stop having to pay taxes on it, so I'm not expecting much money. But simply printing out a deed and hoping the potential buyer pays after I send it seems very unsafe. Any advice would be appreciated!

@Brady Potts That sounds great! I'll send you my email address.

@Joseph Konney I'll definitely keep an open mind with the suburbs. I'm from Skokie, so I could see myself coming back home to them at some point.

@Brie Schmidt When you talk about a loan limit increase, are you referencing that max limit for an FHA loan that Joseph mentioned? Does this mean that once you need to borrow more than that, you have to put 20% down?

I am going to move forward with getting my license, and wanted to reach out for opinions on favorite programs, and whether online or in person is preferred? I work part time, my husband works full, and we have a toddler. So in person is doable, but I am leaning more towards online courses. Thanks in advance!

@John Warren Thank you for clarifying! I know being an agent isnt totally related to investing, but since I am in a place of reconsidering my career, I can't help but think that it may be helpful to work in the industry. If I can surround myself with professionals in real estate, hopefully I can pick up tools and knowledge along the way.

@Ryan Musto This is really helpful! Since I'm not totally certain if we'll be leaving the state, I will look into the Real Estate Express program.

@Calvin Ozanick Thank you for your advice!

Does anyone have suggestions on what programs they recommend for the 90 hours of education required before sitting for the license exam? I am at a crossroads in my career, and since I've gained an interest in investing, I think it would be beneficial for me to become an agent, and delve deeper.

Also, if I am not certain I will be staying in Nashville, would it still be beneficial to pursue this goal? Or would it not make sense until I know for sure where I will end up? There is a possibility of my husband and I moving in the next 6 months for his job.

Thank you for the input!

@Brie Schmidt I had a feeling that our "dream" neighborhoods would be over budget. Though I haven't determined an exact budget yet, I know these numbers sound higher than we can afford. That being said, we know we have to be flexible and compromise in order to start on this journey. I will reach back out once we know for sure where/when we are moving!

@Crystal Smith I appreciate the advice; I will start running numbers for practice once I know if we will be coming to Chicago. I would love to come back home!

@Brie Schmidt, since we don't know exactly where we will be moving, or even when (although my husband is actively searching jobs) I haven't been doing very serious searching. I'm from Skokie, so wouldn't be totally opposed to living there, but Evanston would be preferable if living in the "burbs." In terms of neighborhoods in Chicago, I'd love to explore options in Andersonville/Edgewater, Ravenswood, and Lincoln Square, or further South in Logan Square, Humboldt Park, Bucktown, Wicker Park. However, my initial reaction is most of these locations are too expensive. 

@Craig Curelop, @Michael Facchini, and @Joseph Cameron, I realize my tags didn't link. Please see responses above!