All Forum Posts by: Jackie Patterson

Thanks.....I'll check them out. Right now my "smart" phone is smarter than me, but I'm learning!

I just got a Droid X last weekend. I've learned how to make calls, keep up on email and even post on Bigger Pockets. Now I'm looking at different apps. Any suggestions for apps you particularly like?

Michael,

I only know about birddogging for short sales. It can be a great way to make some extra money, although it isn't quick. Short sales take 3+ months to complete and (at least the way we do it) you are not compensated until it closes. That being said, if you steadily refer short sales, then in 3-4 months you should steadily be getting paid.
It may be quicker for wholesaling. Someone else can probably address that.

Welcome, Rod.

We work with short sales. We've done some in Illinois with an attorney, and one without. The one we did without an attorney, We purchase the property and then re-sell it. The one we did without an attorney, we used a title company, but the end buyer used an attorney.

Welcome to Bigger Pockets, Alan. I'm sure you'll enjoy all the information you find here.

Welcome to Bigger Pockets, John!

You've got a good start with 4 rentals. When you're flipping, you might try non-traditional sources for money, depending on how long you hold. This would work well with wholesaling and short sales.

Your wife needs to study the MLS every day, looking at new listings, pending and solds. It won't take long to get a good handle on the market, what's selling, what it's selling for, and how long it takes. She can also run a CMA in a radius from 1/4 mile to a mile or more from an address. That will also give her good information. Finally she needs to drive the neighborhoods at different times of the day to get a feel for them.

Why not if you have the funds to do it? Of course they would have to be able to qualify for the mortgage payments. I would never co-sign for a mortage. That's asking for trouble.

We work with Realtors across the nation. We look for a Realtor that understands our process and is investor friendly. The Realtor must be competent, understand the local market and dependable. We rely on them to get the information we need to analyze a potential short sale, and then be able to follow through during the process. Reliability is #1. My husband and I are both Realtors as well as short sale investors (Bill is a broker), so we are in a unique position of understanding both sides.

Good luck, Sage. Sounds like you're laying a strong foundation to being a top notch Realtor.

CONGRATULATIONS, Chris!

That's a great accomplishment, and one step closer to your goals.

Welcome, Mo!

You might consider short sales as a way to generate capital. It takes awhile, (3-4 months at least) but can be lucrative, and doesn't cost you anything but time. Regardless of what area of RE you chose, you'll find lots of good information and people willing to help here on Bigger Pockets.