All Forum Posts by: Svetlana Foley

@Marcus Auerbach, all excellent points!  As a realtor, I LOVE working with investors, probably because I am bottom-line oriented myself and like a good deal or help someone who is looking for same.  The trouble with some so-called wanna-be investors is inability to make a decision.  If you did you research, ran your numbers, and know what you are looking for, JUST DO IT ALREADY!!!! looking at dozens of properties and being afraid of "making a mistake" doesn't do you any good - you are losing money by not having rents flowing in and learning from each transaction, and it is a sure way to have a realtor drop you like a rock.

Awesome job, keep on going!

2 hours is close enough - you just need a relationship where you can call/email on a super short notice if needed and the staff gets done.  Big banks/out of state is typically much more difficult to accomplish.

@Joshua Martin  - how is the snowball rolling? Inquiring minds want to know...

Although you can find a bank anywhere, it is best to establish a relationship with a local/regional bank and more specifically a lender that you will get to know personally, especially if you are planning on buying more properties.  Things in RE come up all the time and it is crucial to be able to call up your banker and get an answer on very short notice if necessary.

All of the above is so true!  It could be very frustrating when the beginning investors overanalyze and afraid to commit.  At some point you just need to take a plunge and GET STARTED!!!!  It will also give you an invaluable experience and will make it easier to determine what is a good deal for the next one.

Wells Fargo is notoriously horrible when it comes to short sales.  If you completed the short sale process and have the closing statement, they may have just made a mistake, not atypical for WF, unless its the new owners that are being foreclosed on and WF is also their lender.  If its a mistake on WF part, it is just a matter of either hiring an attorney or making a bunch of phone calls/going through the hassle yourself.  Either way you definitely want to clear it up as it will affect your credit and background checks.

AWESOME JOB!!!! Wow!  Please move to Wisconsin, would love to hire you!

Hi, Aaron- welcome to the site and congrats on working hard!  Just a quick word of advise that I hope you will find helpful - you probably meant to say that you got your sales license, which is quite different from becoming a broker.  In the state of Wisconsin there are very specific requirements to get to that next level, including being in the industry a number of years and completing a number of various kinds of transactions, and unless you got your license while still in high school, you can't possibly hold a broker license.  Since this industry is based on legal contracts, you definitely want to pay attention to the language you use to increase your credibility.  We all have lots and lots to learn, even after dealing with real estate for a long time.  Best of luck to you, commercial RE is the best return on your educational investment by far, and offers the most lucrative possibilities.

Svetlana

date/time/location?