Investing in real estate

[Real Estate Forum]

I have a feeling this will be a major category :cool:

[San Diego Real Estate]

Mike I agree... do we have any investor questions out there? ;)

[Prant]

Hello everyone!

Let me introduce myself. It's "PRANT" Real Estate Agency, Laureate of the International Award "Actualidad 21st CENTURY: Gold Star for Quality", the leader of the growing real estate market of Azerbaijan. We offer our services, to private clients which want to buy properties on CAspian Seashore, in the South Caucasus, Baku and other parts of Azerbaijan, individual and instituinal investors, which also want to use the real estate investment opportunities of Azerbaijan.
Thanks very much for your attention.
With sincere respect,
"PRANT" Real Estate Agency.

[Prant]

It's me again, "PRANT" Real Estate Agency.
Please, contact me, if you are interested:
manager@prant.net

[sarahk]

Hi

Here's some rules for investing


Know the area you will be investing in
Be within driving distance or have a property manager you'd trust with your life
Don't buy properties which will be let to people you don't feel safe dealing with - even if you use a manager you will need to go face to face from time to time


Now, people have been encouraging overseas investment for years - citing the tax breaks when you take a holiday to do a property inspection. I'm not so sure - especially when there are language and cultural differences.

Not wanting to take the wind out of Prant's sails, but I'd stick close to home when investing.

Sarah

[MaxSinclair]

Does anyone have any experience investing in foreclosed properties? I am totally confused about HUD's rules. It looks like we need a special license to deal with HUD properties. Their site says that HUD pays 1% to the listing agent and up to 5% to selling agent. 1%? who's going to list that? Or did I understand it wrong? Anyway, if anyone knows anything about foreclosure, please help. THanks.

Max

[chachi]

Max, I am assuming from your post that you are looking to become a listing agent that reps HUD properties? I don't know your business, but I don't think you really want to be HUD's...well, you know what I mean don't you? Since HUD is a federal agency, you have to adhere to all kinds of silly rules. If you are looking to invest in HUD homes and your market (I don't see Lake Oswego being a hotbed for HUD foreclosure activity) is one where there is a nice spread between what you can pick up homes for + rehab + carrying costs and market prices, then they can be very lucrative. I have a childhood friend who was doing over 150 homes a year in LA (yes, he is big time with 5 crews), but when everyone and their mother wanted to become a real estate investor in California a couple of years ago, the HUD foreclosure/investor market dried up as properties began to be bid up too high to make any money. Home buyers began entering the market and an investor cannot compete with what a homebuyer is willing to pay for a property.

[MaxSinclair]

Hey Jason,

No, I don't want to be a HUD listing agent. I went to talk to them at their office and apparently even as a buyer rep, you need to register with them and follow their rules. That sucks!

You're right, Lake Oswego is no foreclosure territory, but inner city Portland used to be. I've been trying to get properties before foreclosure. But competition is stiff.

I'm receiving a lot of investors from CA. Are you seeing any activities from your clients wanting to invest in Oregon?

Max

[chachi]

Max, I don't really broker stuff any more. But, I do remember the last time every one headed north. :) HUD has a ton of rules and if you do enough volume, you can expect to get some discounts ( I know my buddy used to get 15% off when purchasing 5 or more properties at a time) when buying in bulk. But, things have changed since the market exploded. But, I believe you are doing the right thing by getting involved with them now and learning their methods as I think in the not so distant future we will be seeing a rise in foreclosures.

I just looked at a NNN leased deal here in CA for $750 sq. ft....I am sure that is why you are seeing a lot more investors from CA looking elsewhere. Crazy.

[MaxSinclair]

Jason, I know how crazy things are in CA. And you're right, we're likely to see more foreclosures in the near future. I personally have clients bought homes that they couldn't really afford.

Max

[San Diego Real Estate]

Guys I agree between the lenders and the Buyers that are willing to pay anything...When is it ever going to Stop? ;)

[chachi]

When people believe that the market is unstable.

Look at the FOMC's actions lately and the 10 Yr Note's pricing over the last three months. Raising the Fed Funds Rate is supposed to cause banks to raise rates on home loans. The 10 year is heading back to where it was 3 months ago. I think we are going to see Greenspan and the FOMC get more serious with their tone and actions and will likely see the FFR pass the 4% mark this year.

[Jiany]

Hello Everyone
Im in the midts of selling my friend's property, and we just found out that he will have to pay a huge tax amount on his profits. His tax bracket is very high, so I went and looked more into 1031 exchange.
1031 exchange enables you bi pass paying tax on your real estate short term gains. There are a couple of rules to the game that you must follow in order to be eligible. So before buying real estate, seek information on a 1031 tax exchange.
If anyone has question, ask away.

[Cedar City Utah Realtor]

Accually 1031's Defer taxes they dont avoid or bi pass them but they are a great thing. I know alot of people who have defered taxes for 30+ years at high rates then retired, droped into a low tax bracket and then cashed out for a big savings.

[ibuyhomes]

No, you do not have to have a license to buy HUD property. You do have to use a realtor. Most HUD properties are listed for owner occupant and if they do not sell then they are opened up to investors.

Most people here in Florida are not bothering with HUD homes anymore. They are going for full retail value.

They also have a loophole where Non-Profits get a discount on buying houses.

Like everything else in real estate, it will come back as a good source for buying homes when all the rookies go back to the stock market.

Good investing.

[natemas]

I've purchased several books and courses. I've found that all have some useful information, but none are complete. It's best to read. A lot. I've read about 10-12 books and still feel like I learn a little something with every new book.

I did find the course by Dave Whisnant to be the most useful for what I wanted to get into though.
You can download a free portion of his course here:
realestateinvestmentpage dot com

[restate]

I dont think so its risky but it takes time to be give you some extra benefit I am a relator you can chek my link also for such good info about Las Vegas...:)

[teamgreene]

So, where can I get in touch with HUD if I'm interested in representing buyers of sellers? We've got a new business on our hands here, and we could use the work.:D

[michael]

For Hud listings you can get them directly off the federal government web site. at
www hud .gov

It has all the listings on it. But it is a tough road to go and you probably will not secure anything at a great rate. Maybe next year it will get a bit easier.

Florida is still a very active market, just a lot of inventory to deal with. Unfortunately just about everyone seem to be in the real estate business. I am in tampa and everyone I meet is connected somehow.

The Gulf coast region of Tampa, Brandon and central florida although slowing will still have a good three years of healthy appreciation in it. Check out the new company that I work with. It is in Tampa, called Thespillzone.com

It has tells you a predicted value for any property in the United states for free (at least 3 years from now). Real cool internet item.

[Real_Estate_Agent]

Real estate investing is a hot market and there is so much money to be made.

I like this thread because it has great information.

Hire an experienced real estate agent in the city you would like to buy in.

Sincerely,

Fernando Spindola

[bermyshotta]

keep up the good info?

http://www.easypanamarealestate.com (http://www.easypanamarealestate.com)