All Forum Posts by: Mel F.

So I was reading one of the Getting Started articles here on BP and it led me to the Home Path website for foreclosed properties previously owned by Fannie Mae. I saw what might be an excellent deal for my first rental property and wanted to see what was required to Make an offer. After creating an account, I tried to make an offer but an error message appearing saying that I was not a licensed realtor and could not make an offer.

From what I've read, Home Path sales allow low money down (10%) which seemed perfect starting out in REI, but it looks like I'll have to bite the bullet and tack on realtor fees as well??

Has anyone purchased Home Path properties? IF a realtor is necessary, what additional costs would I be looking at? I guess this is the important step about partnering...

Thanks for your thoughts and help.

Hello fellow Triad Investor. Its great to see so many local individuals that I could connect with. I am new to REI and have been doing rather heavy research over the past couple of weeks. I should be positioned to jump into the market relatively soon. I certainly hope we can leverage each other as I gain more experience. Your 20+ years is a commendable accomplishment! Best of luck in your future endeavors!

Welcome, fellow North Carolinian! I am new to REI as well and haven't lived in NC very long. I wish you much success!

Hello my new BP family. My name is Melvin Fenner also known as Mel. I have lived in Winston Salem, NC for four years now. I'm originally from Mississippi. I currently work in Information Technology from 8am-6pm and will now add REI to my after-hours life. I am brand new to REI but have many friends and mentors in that have been in the business from 5 - 20 years. Although I'm pretty heavy into technology, REI has always been a goal since being an undergraduate student and realizing how much cash flow my landlord was receiving from us college students. Fast forward a few years and now it's time for me to enter the arena.

I am slowly learning about the variouss niches of REI. The end goal, however, is to eventually rent single and multifamily homes close to cost so that renters will not be burdened by stiff prices... its the humanitarian in me. The time and process taken between now and renting lower costs dwellings is TBD. This website has more information for the average person to comprehend but its amazing that so many people are willing to share their stories.

Right now I have a few thousand to invest and will continue to research over the next couple of weeks as to where the money should go. If their are any suggestions, I am a sponge right now. I respect the REI veterans and look forward to learning and growing with each of you, especially those here in the Piedmont Triad of NC!