Expensive Neighborhoods - Posted by Matt Wilson

Posted by Jim FL on April 21, 2002 at 20:13:14:

Matt,
First, ignore the agent.
They are wrong.
Sure, some houses may sell right away, but not all.
There are motivated sellers everywhere.
People go through hard times no matter what the market or economy.

As to your questions;
"1. How can I get started in real estate investing in this kind of market?"
REPLY:
Go to the “Search” function at the top of this page and plug in “Getting started” and/or “Johnboy”.
You’ll get some good stuff there.

  1. How can I find that one home that my family and I will be happy with, without breaking our wallet in a nice neighborhood?

REPLY:
Market for sellers to call you, and shop til you find one with a house that suits your needs.
It may not happen right away, but they do exist.
Buy from a motivated seller and you can get a deal.
I bought my last three residences from motivated sellers creatively.
I’ve managed to live in VERY nice houses for the last few years for quite a bit less than I would have had to pay had I bought conventionally.

HTH,
Jim FL

Expensive Neighborhoods - Posted by Matt Wilson

Posted by Matt Wilson on April 21, 2002 at 18:52:46:

I’m looking to start real investing in real estate and look for a home for my family. Our area price for homes is around $350,000+ for capes. According to our realtor, many houses sell within the same day of being listed for the asking price. Here are my questions:

  1. How can I get started in real estate investing in this kind of market?

  2. How can I find that one home that my family and I will be happy with, without breaking our wallet in a nice neighborhood?

Here is a good article by Johnboy. - Posted by tang-0-rang

Posted by tang-0-rang on April 22, 2002 at 08:07:41:

This article is propbably exactly what you need to get started in the High-End market that you are talking about. and the author is Johnboy the great.

http://www.creonline.com/mm-53.html

JMO
Todd Williamson (CO)

Re: Expensive Neighborhoods - Posted by Brent_IL

Posted by Brent_IL on April 22, 2002 at 24:51:17:

I’ve nothing substantial to add to Jim’s reply.

Consider that many folks are unable to acquire their dream home until they have purchased and lived in one or two others. They need the equity appreciation from previous homes to get into the house they really want.

CRE can hasten the process, but it still may take some time to get the right house for your family.