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Thanks for the info Les - and I knew about bidding on HUD - i was being incredibly optimistic. ;-). Anyways - that particular home wasn't in my area - It was out in Decatur somewhere. But I understand what you mean. I think I really need to be assistant to someone experienced so I can start getting some hands on training.

hey lenderles! thanks for the welcome. And yeah - i realize that little flip would be peanuts, but a girls gotta start somewhere. I see you're in Atlanta too - hey neighbor!

Lonnie - PITA = Pain In The A$$.

hey james! well a lot of this stuff i'm learning now, but as far as below market deals - it depends on the neighborhood, and growth. I like houses that i can get $10-20k on just by buying them (ie HUD properties - altho not all of them) but I have found a few here like that. And then the added value of fixing them up. if i can get the suckiest house on the block for 20K below it's value, let's say 80K, and it assesses at 104K as is, and comps in that neighborhood are going for 124K - to me that's a deal, depending on the house's bones. If all it takes is some appliances, a water heater, some superficial repairs, and fresh paint that's a nice profit, if sold at 124K. (i ran across one that sounded like that on paper - I haven't gone to that side of town to actually look at it, tho, if it's still available)

Financing and exit strategies tho - I need to work on. and really figuring out the math.

well yeah - that bit is definitely disconcerting. But i've worked with this person closely for a few years now, in a procurement relationship and I know what she means. She can be a real PITA tho, but I believe she's sincere. Just does't want to do the dirty work. I'll still keep networking and tryng to find others tho.

thank you all for the warm welcome. I'm currently trying to find some sort of job in the industry. I'm hesitent to join the REI club in georgia just yet, because the memberships are sort of steep for my current up in the air financial situation.

I did have an interesting meeting with a close friend yesterday - apparently she's wanted to get into REI for a while, but she doesn't want to "bother herself with the details". Just the design aspect.

I'm wondering whether I should broach a bird-dog/facilitator/coordinator agreement with her.

I'm thinking if i do the research on available houses that are undervalued of course, give her some options for purchase, and then actually spend the on-site time coordinating the rehab/renovation to her specs, and finally stage the house for resale - I could negotiate doing it for a percentage of the final sale price.

Seems like a win/win - i can get the get the experience using OPM, she gets rid of the headache and we both stand to make a profit.

What are y'alls thoughts on that?

Hi y'all! I just ran across this forum today, and decided to join. I just walked off my job a few days ago, because it all got to be too much. My grand scheme was to quit it in order to get my RE License (one of their rules) but as life would have it, my roommate got laid off last week, and I don't have enough savings set aside to cover every eventuality and a year off to get a real estate career going.

Anyways - I really do want to get in on the investing side of things far more than I want to be an agent, and I do have a mentor that I will be working with, but he's not in-state. And it may be a while until he's down here. My interests are in rehabbing, renovations and rentals.

My Ideal job is Ginger to Richard Davis (for those of you who watch the Trademark Properties shows). Actually I want to be Richard some day but all in due time. Anyways I came across this site, after finding a listing for "Property Locators" on Monster.com, and doing some cursory research on whether Real Estate Arena was a scam or not. I'm leaning towards yes.

In any case - being a property locator sounds like a great way to start learning the ropes. However I'm open to just about anything, especially since I'm going to need some money real soon. Anyone know of an Investor in Atlanta that needs a Treo-holder and Starbucks-getter? I'll do it for the opprotunity to learn (and a modest paycheck). In the meantime - I'm going to soak up as much information as possible from the boards here.