All Forum Posts by: Bob Roemer

As property values go down, how great of an impact will the ripple effects be on the Cities, Counties, and Schools what were budgeting based on the property value assessments?

I agree with Dave, have short term and long term goals. Both can used not only as a way to track the steps being taken, but using the "metrics" can be a great motivational tool. It is good to see how your business is tracking to fulfill the lifestyle results you want, while accomplishing what you want to do for the year.

I'm in the process documenting my goals; 1 yr, 5 yr, and 10 yr.

Another interesting question might be will there be buyers who should be discouraged to buy? And how will they be discouraged? Just like people with other financial problems that keep making the same mistakes, how will these buyers be prevented from making the same mistake again?

It was a voluntary move for a job. I don't know about any other assets other than they did purchase another home. The dual mortgages are what has them stressed.

Being completely new to Short Sales, I'm trying to find out if this is really what I perceive to be an opportunity. A Realtor has a listing where the sellers had to move for job reasons, they purchased another house in the new location, and now can't afford to carry two mortgages.

Total Notes being Carried: $140K
1st: $114K
2nd: $ 26K

The comps would be at the $139K - $142K range.

The house is clean, and it is only 2 years old.

The homeowner hasn't pursued this with their mortgage company yet to see if they are able to do a Short Sale, but they are getting scared about the situation.

Thoughts?

The bank I used when I first flipped a couple of house limited me to 2 for the first time to start building a track record. With the track record, they were open to adding more to the portfolio. This was done with a LLC.

Another question to ask; what should the frequency be in mail-outs? Once/month, once/quarter, twice/year, etc?

Nathan,

I think it is great that you are thinking about this now. By starting now, you will achieve the lifestyle you want and your goals. I wish I could get my kids who are your age to want to learn about this. Good luck!

Christian - Sorry about not that, I have a Texas Real Estate License. As for business, I do have experience. I was an executive in corporate world (Dell), then decided to spend time with the family. I spent some time as a business broker, and wanted to own a small business so I bought one of the businesses I was trying to sell...a Glass & Mirror shop. I've owned it for 4 1/2 years and now have the time to focus on Real Estate. So I am involved in both Commercial and Residential Construction, albeit to small scale.

Joshua - I say dabbling in real estate investing because I'm ready to transitioning to a full time investor. I have flipped a couple of REOs, purchased some acreage to sub-divide, and have a rental property. I would say it is my own mindset of being more focused on investing full time versus sitting on the sidelines due to my own fears of jumping in is why I fell I just dabble in real estate investing.

I'm new to the site, and really appreciate everyone's openness in helping each other here. I've "dabbled" in investing over the past 3 years, and I'm want to focus on truly becoming an investor. I do have a license, but am not an agent, however my wife is C21 broker.