All Forum Posts by: Jackie Patterson

Welcome, Eric!

We've been successful with short sales in Florida and it appears to be a good market for investing. Sounds like you're buying right and using lots of sweat equity.....a pretty good strategy!

Along with checking references and looking at other jobs they have done, be sure to see proof that they are licensed and have insurance. My husband, Bill, is a licensed builder and certified green professional, so he is always the general contractor on our projects. When looking for new subs, he makes sure that they are licensed and insured, as well as checks their references, and closely supervises them. There are so many people right now looking for work, that anyone that can swing a hammer will put a bid in. You may get a lower price hiring someone who doesn't carry insurance, but it can cost you in the long run if there is an accident on the job.

Welcome, Cat!

What area of real estate are you interested in? You'll find people here well versed in whatever you decide to pursue.

Hi Lamont!

Glad you've stopped "lurking" and started participating. You'll find lots of useful information here regardless of what real estate avenue you want to pursue.

Hi Lorilei,

It's natural to feel nervous when doing something new. What makes this harder, is that you're dealing with people that are stressed and going through difficult times. The key to building confidence is to thoroughly understand what you are attempting to do. I would suggest that you partner with someone experienced (especially in short sales) in the beginning while you gain knowledge and confidence. Then you can go out on your own.

Welcome, Emyrn!

You might want to study the MLS to get comfortable with pricing. Since you have an agent working with you, ask them to send you every similar property and track them. Study the days on market, listing price, and sale price. You may also be able to do this on Realtor.com. When you're targeting a property and want to make an offer, ask the Realtor to give you pending and sold comps. You should be able get a good sense of the market and be more comfortable with pricing.

When working on a short sale, you may want to consider using a professional negotiator........especially if you are trying to get a low price.

Welcome, Scott!

As you are discovering there are many different avenues in real estate investing. You're motivated, and willing to study and learn......that will carry you a long way.

Welcome, Hal!

Good luck with your first rental property. There are challenges operating from a distance, but it can be done.

Welcome, Freddy!

I agree, real estate is fascinating. Your finance background will be an advantage when analyzing potential properties. As far as renting out your current home, as long as the numbers work, you carefully screen the tenant and write a good lease it's not a bad idea! Especially in today's depressed market.

Welcome, Jason!
Hope you're staying warm. We're in Southwest Michigan, and as you know it's really cold! We work with short sales. If you're interested in that area, feel free to ask questions.