familyman230
Meriden, CT
age: 44
| I've been investing in R.E. for about 18 months now. Bought and sold three homes since I started. Current markets dictate buying and holding for equity. Any thoughts, I'd love to hear any perspectives.
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lorlie
Eugene, OR
age: 52
| familyman, yes I have been in investments for years. Not so much in the
real estate end, bought 2 houses. But love the stock market.
Have done good. Am thinking of going back into real estate market
is a buyers market, and as the elections come closer is only going
to get better. Am looking at some property now, but waiting because
I know housing will drop more over the next year. Good luck to you.
There are some great deals on Repos out there.
[Edited 1/3/2008 9:40:43 AM]
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winesong
Bend, OR
age: 80 online now!
| I have real estate investments...have for 30+ years.
May I suggest that you align yourself with a mortgage broker, and have your pre-approved profile waiting in his file. It is a really great thing to have your pre-approval letter to accompany your offer in writing.
Do you use a buyer's broker for your paper work? There are experienced brokers and then there are salespeople that want to be successful. I suggest that you use a person that has designations behind their name..such as GRI (basic extra education)
CRS (more education and passed many tests, and closed x # of transactions)
ABB= Accredited Buyers Broker.
The times are great for a buyer,with great interest rates and prices have been lowered in many areas. There should be many renters now, if they have lost their home due to the mortgage crisis. (sub prime mortgage forclosures are killing us now)
They do have to live someplace!
Wine
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familyman230
Meriden, CT
age: 44
| What a breathe of fresh air this has been to read. I actually belong to a group of investors who specialize in the housing market here locallly in central Ct.. I have a mort. brkr., r.e. atty., appraiser, agent from CB., and insurance agents all in the group. The topic of a pre-approval letter is actually a great tip for those who are not aware of it, I do have many things in place with reference to proper parework. My problem isgetting sellers to agree to holding paper for a number of years. Many are reluctant and don't see the true value ofmonthly payments for years to come. I, on the otherhand am trying to find other creative ways to invest with little or no money down in a very sketchy lending market. Thank God my credit score is tier 1, above 800. I don't know many people with a higher score. It's all about terms and location.
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