All Forum Posts by: Colleen Martin
Colleen Martin has started 3 posts and replied 3 times.
Post: bankforeclosuressale.com & other websites' efficacy
- Posts 3
- Votes 1
Hello BP friends! I'm starting to look for (off-market) deals and have found a couple of websites listing foreclosed properties. Of course they require fees to join and access details. I'm wondering if anyone has experience with these websites, and whether or not they are both accurate and useful sources. The fees aren't enormous, but I don't want to squander resources. I've found leads on
bankforeclosuressale.com
hudforeclosed.com
auction.com
If anyone has any success or failure stories for these websites, that would be great. Thank you in advance!
Post: Putting dollars to work while waiting for a deal
- Posts 3
- Votes 1
Hello BP community! My husband and I have been convinced of the wisdom of investing in real estate, but I'm wondering what to do in the meantime. We're actively networking and searching for deals, but of course this takes time (especially for our first one). I really think the concept of having your money work for you makes a lot of sense, and my question is: do you have any suggestions with what to do with your money in the mean-time while you're looking for a deal? I'm wondering if it makes sense to simply keep the money easily accessible in our bank accounts, or if there's a way we can put those dollars to work while we wait for a deal. I've done a lot of reading on real estate itself in the last year or so, but I'm pretty clueless about other avenues of investing (especially shorter term ones). Thanks in advance!
Post: Distance from property as first-time landlords
- Posts 3
- Votes 1
Hello!
My husband and I are negotiating what could potentially be an awesome deal for a 6-unit rental property. Obviously there are a lot of financial aspects to this decision that we are working through, but I have a non-numbers question. My main concern is that we currently live just under two hours from the property, and I'm wondering if that may make things difficult. I lived in this property for about a year (which is why I know the current landlord) and have some experience with it. When I lived there we had almost no maintenance issues. I understand that involving a property manager could remove this quandary, but for now we'd like to manage it on our own (for experience as well as monetary benefits). I'm not bothered by driving itself, but I don't know if the minimum two hour delay in getting to our tenants for anything may have significant consequences. For current landlords, what's been a manageable radius from your residence in your experience? Any advice would be much appreciated!