Posted by Jim FL on April 21, 2002 at 20:13:14:
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?"
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.
- How can I find that one home that my family and I will be happy with, without breaking our wallet in a nice neighborhood?
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.