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Victoria, becoming a real estate agent can be good and bad. As an agent, you have access to the MLS and therefore tons of market comparables and information that is very helpful and vital to you as an investor. But, you don't have to be a Realtor to get that information. Developing a good relationship with one should be good enough. I'll email you more about that when I get a chance.

As for your second question, I would say that buying and holding in a buyers market is almost always the best suggestion. Renting it depends on the market and what that will do to the value of the property, your cash flow and so on as you wait for the market to turn and prepare to sell it back off.

Does that make sense?

The reason I'm investing in Indianapolis right now is because we have over 1,000 new foreclosures per month and 1,000 new bankruptcies as well.

We're buying duplexes, triplexes, and fourplexes for 50%-80% of their value and after all expenses are paid, they're cashflowing $200-$500/month. We pay a property manager and let them deal with the crap.

This is a buyers market and I don't expect to be buying cash flow properties for much longer than the next 4 years or so. By then, the market should be headed way up and I'll be pulling out.

I love the market here.

What are you trying to do, you may not need more than what you have.

I am a mortgage loan officer and is willing to help with financing for properties. I love working with investors.

There are a lot of courses out there that can get you on your way in investing. I have bought many. Some are not worth very much in my opinion. I wpn't mention names.

One course that is heads and shoulders above the rest is a course by Dave Whisnant, an attorney/investor in Atlanta, Ga. He has free information available and a list of hard money lenders.

What are hard money lenders you may ask.

Hard money lenders make loans based on the value of the property instead of your individual qualifications. If you buy the property right, with hard money lenders you can finance the purchase price AND a portion or all of the repairs. They look less at your individual credit score and assets, and more at the deal itself. Plus, most can close loans in days, not weeks!

I hope this helps.

Hello and Welcome to the group.

You have a great market to work. I recently did a couple of re-fi's in Annapolis(excuse the spelling), and was amazed at the rate of appreciation in the area.

live long and prosper!

Just a little patience . . . go here for my response:

http://forums.biggerpockets.com/viewtopic.php?t=904

Victoria - there are several interpretations of flipping. Yes, it can be buying a property cheap, fixing it, and then selling it for a profit. Others will enter into a contract to buy a property and then find a new buyer and "flip" the property to them before the deal closes.

There is certainly competition out there to pick up foreclosures. In California foreclosures are selling for just as much as other homes, often times.

Your concern about finding renters is valid. Many people underestimate the difficulty in finding renters, and often lose their property because they did not set aside enough money to keep the bills paid. You just need to have a good plan and budget properly.

Hope this helps. :mrgreen: