Telko

The two biggest concerns are whether you are adequately capitalized to start a business and whether you have the necessary discipline to save money when times are good so that you can stay in business when the real estate market slows down, as it inevitably will. Real estate is a very cyclical business.

When you are just starting out, you likely will have more expenses than income for the first 6-12 months. So, you need to be financially prepared to pay for advertisements, business cards, networking, driving around, etc. Even if you get a sale in the first few months, it takes 30-60 days to get your commission paid (at closing).

Right now, the housing market is in a down cycle. But if you have enough money to stick it out, and you’re genuinely interested in the work, you can turn these circumstances to your advantage. During a down market, the agents with staying power are the ones who benefit once the market makes a comeback.

Once that happens, it is very important that you stash some extra money away for the times when the market cycles down again.

Good luck!

I’ve had a job for about a year now and i’m getting close to 4000 dollars. At first I thought i’d buy a car but what good would an old used car do a few years down the road, i’d just have to buy another one in a few years plus pay for all the repairs. So investment struck my mind. I’m only 16 though and have about 4000 dollars with a limited amount of income. This will be my first time investing and I’m not really sure how to do it and have some questions?
Can a 16 year old invest?
Do I have to invest through a broker? How does that work?
Is that enough money to invest in real estate? Is it possible to join in with other people investing in realestate?
Should I wait to invest because of the bad economy?

I know there’s also mutual funds but that doesn’t really appeal to me.

Best bet would be shop around for a CD (Certificate of Deposit). Stocks are risky at the moment, and are for more long term investments. Real estate is also shaky and for $4000 you really wouldn’t be able to do too much. You can get a CD at any local bank, they usually hold your money for 6 months to a year and can tell you exactly how much money you will earn for letting them hang onto your money for that year. If you want to learn more just click the link I have.

What is a good website for looking at houses for sale. I’ve already checked out local newspapers, Realtor.com, Realestate.com, and yahoo realestate, anywhere else… I’m just really doing research and we’re not ready to talk to a realtor just yet…
I didn’t think about Craigslist!

Thanks!

Just so you don’t waste your time, 99% of real estate websites get their data from the same source as Realtor.com so they won’t have listings it doesn’t.

eBay has a real estate section, though I wouldn’t buy a house that way.

can a realestate agent find someone to qualify and assume my mortgage loan or do i have to find someone to do that myself? Do realestate agents even do that?

Im Alabama, an agent can not do that, but should lead you to the person who can. If you are working with a realtor who only wants to deal with selling your home and not at least guide you to the proper people, DROP them and fine a new realtor.

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If In Alabama – e-mail me
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I am currently in a situation where my realestate agent has dropped the ball on many occassions. She blames every fumble on someone else (including me, my wife, and my mortgage broker). Her fumbles, as well as a couple by the mortgage broker, have caused the closing of my house to be pushed back by a few days. This also affects the seller since they can’t close on their new house until we are closed.

My question is, do we as clients have any protection whatsoever from an agent that has really failed miserably? Based on the contract, even if we cancel the contract we still have to pay her if we buy a house within 90 days of termination. How are clients protected from horrible agents or just bad agent mistakes and judgments? Her mistakes have contributed to the possible loss of the house and serious delays in closing. There have been may more fumbles along the way.
The main fumbles have to do with communication and education.

I will also say I am sure I made fumbles as well, but I rely on the "professional" to tell me what I am doing wrong or where I may slow things down.

- We were offered some repair money. My real estate agent stated we could find a way to get the repair money out of contract so I could take the money and do the repairs myself. Therefore doing more for less. When it was realized this couldn’t be done she quickly said "Well, the buyer brought it up so I was just checking." She planted that seed and now I find out that can be related to mortgage fraud.

- The closing date was relying on contractor invoices, but due to her trying to find a better way, we didn’t get those done (my fumble, as I was relying on her information). We found out 2 days before closing that it couldn’t be done and this was after she said the seller agreed to it. So we had to scramble.

The others basically include VERY poor communication.
And you make a very good point about closing. I was under the impression a real estate agent was there to hold your hand during the entire process, including making sure closing and everything needed happened on time.

I can find a house on my own, I need someone that can help me through the rest of the process. If that isn’t what agents are for, then there is a much larger problem with the industry.
BTW, let me say. You guys have been great helping out! Thank you very much.

I cannot think of anything the buyer’s Realtor might do, or not do, that would delay the closing. Please give some more information.

If it is found that the agent has caused you financial loss through a mistake on their part, they do carry error and omission insurance to cover the mistake. However, I still am not clear on what they could have done that leas to the situation you are describing.

something different than the realestate agents

Look in the Pennysaver, a new one comes out every Tuesday

http://realestate.yahoo.com/Missouri/Springfield/s-glenn-ave:23ebfdb6608a42ada297f2e22dab03c;_ylt=AhZtiGMZZhxqX1p.m9kVHsYN47Qs

I was browsing through these listings and I came across some foreclosures that seem to be priced at a too good to be true price. Should I buy these or is there a catch?

The amount listed is the amount on which the current owner is deficient in payment. The house will be sold at public auction, and the MAIN bidder will be the lender involved, who will bid the price up to a point at which it will accept. If no one bids high enough, the lender will be the high bidder, and will take the property as lender owned.

Don’t expect to get it for just over $9,000 unless that is all it is actually worth.

Realestate

Here is a website for all Updated & Latest news and information. Please check there.

http://www.keralaroom.com/

Hope this will help you.

My mothers landlord has sold the property and was notified today that she has to be out by this Sunday.Does any one have some advice? There is no written.signed notice giving them enough time to move out. The only thing is that she was on a month to month lease due to the fact that the was house put on the market. She has two disabled sons and my sister and her three daughters live with her. It too much of a short notice for them to find something. Can any one help if I provide detail needed.

A month-to-month tenancy requires that they give 30-day notice to vacate, no exceptions. I’m sorry to hear this happen right before Christmas, truly, the landlord has no heart. I’ll say a prayer for your family.