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Q&A in Real Estate Investing (newbies)

lilywhite · 90 · 22584

lilywhite

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on: Jun 26, 2008, 08:38 PM
hi guys :) i'm done reading some books on RE investing, but i still have questions in mind...like, how do we determine the market value of a property? where do we ask? can we rely on brokers? agents? banks? or can we go directly to the assessors office and ask this?

how do i negotiate with the bank? can i really ask them to lower their asking price to 30%?

i really hope someone would be willing to mentor newbies. i really am very interested to try this! I'm having difficulties overcoming my fear that's why i try to read books on RE investing to at least get myself prepared :book:

i think the next step is to associate myself with knowledgeable/positive people to keep me motivated :)

hope i'm on the right track ;)


lilywhite

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Reply #1 on: Jun 27, 2008, 02:25 PM
i found out today that not all banks pala are that flexible pagdating sa mga non-performing assets nila. this bank (rural bank) requires 50% DP & 2 years installment. the sad part is, some of them are unlocated. bahala na raw ang buyer i-locate ang property and most of their NPAs are not yet consolidated. whew!

pasyal ulit ako next week sa iba pang banks.


lilywhite

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Reply #2 on: Jun 30, 2008, 10:25 AM
hi richerlife! One of your products is Intra right? dati nakong member jan. the products are good! Direct Distributor nako dati, but i stopped na. Gusto ko naman ngayon ng traditional business..and gusto ko pong magventure sa Real Estate not mlm :)


richerlife

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Reply #3 on: Jun 30, 2008, 12:16 PM
ah ganun poh ba... pero talaga namang kumikita diba at tested ung mga products nila... nag re-real state venture din ako... may pinapabenta akonh 2lots sa Puerto Princesa City, Palawan., 1000sq. meters each... kung gusto mo tulungan nlang tayo & hati nlang tayo sa commision... ty.


lilywhite

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Reply #4 on: Jun 30, 2008, 07:31 PM
newbie pa lang po ako sa RE investing, as in nangangapa pa lang at hanggang patingin-tingin pa lang ng properties  :D pero pwede rin akong mag-canvass :) pasend na lang po ng additional details :)

yap lifestyles products are good esp ung intra! un ang nakagamot sa eczema ng mother ko. nakaka-free case kasi ako noon kaya okay lang :)


tutoy

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Reply #5 on: Jun 30, 2008, 08:25 PM

to know more about how to analyze a real estate investment as an investment portfolio

check thishttp://towergroup.blogspot.com/


lilywhite

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Reply #6 on: Jul 01, 2008, 11:32 AM
thanks for the link sir tutoy  :applause:
i'll definitely check that out :)


glomor

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Reply #7 on: Jul 12, 2008, 07:06 AM

Better pa rin if you work for someone or for a company that deals directly or indirectly with real estate and get to learn from their deals. The best teacher is still experience.
 :applause:


lilywhite

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Reply #8 on: Jul 12, 2008, 05:11 PM
hi glomor  :hello: would you like to share some info about companies who works directly/indirectly in RE? wala kasi akong idea jan :)

it's impossible pala to transact with banks regarding their foreclosed properties if you are not employed or self-employed :( unless cash basis ka magbayad. self-employed ako dati, pero closed na ung computer shop ko. bagsak pala ako sa RE investing...

pero i can still try looking for motivated sellers with flexible terms and low price. ang mahirap lang dito sa place namin, ang gusto lang ng tao dito is cash basis. huh!


vince

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Reply #9 on: Jul 12, 2008, 07:30 PM


 wow ang gandang thread ito.. subaybayan ko nga..i'm also a real estate agent /property specialist as parrt- timne kaya medyo interested din ako sa real estate investing :thankyou:


lilywhite

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Reply #10 on: Jul 12, 2008, 07:52 PM
hi vince! thanks for dropping by dito sa thread :) real estate agent ka? wow! pa-share naman ng mga experiences mo sa RE  :applause:


tutoy

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Reply #11 on: Jul 12, 2008, 08:02 PM
for a novice in real estate investing much better kung mag-start kayo for a win-win deal, yung no money down by using motivated seller atleast wala kayong puhunan or kung meron man very minimal lang sa umpisa then along the way pagkumita na kayo at the same time nakukuha nyo na yung flow of transaction in real estate in this way basic lang pero its a proven income..

Think twice before you go to foreclosed business madami akong kakilala na nasunog ang pera nila, na-overcome ng liabilities yung sana na casflows plan nila bottomline ang panalo yung banko another subject for foreclosure na naman sayang lang yung investment cost mo for the repair and other incidental expenses pag walang immediate tenant sa property kaya maibabalik lang sa banko ulit yung property swerte naman ng banko kayo pa nagpaganda ng property para taasan nila ulit yung price value.

try to visit regularly sa blogsite dami kayo matutunan on other angle side of real estate investing.

« Last Edit: Jul 12, 2008, 08:03 PM by tutoy »


lilywhite

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Reply #12 on: Jul 12, 2008, 08:21 PM
hi tutoy  :hello:

yes you have a point regarding sa foreclosed properties. i'll take your advice...pass muna ako sa mga yan, hanap muna ako ng motivated sellers.

please correct me if i'm wrong. baka kasi iba ang notion ko sa no money down using a motivated seller. ang pagkakaintindi ko kasi diyan is:

-to look for motivated sellers
-then hanap kaagad ng motivated buyer/s.

tama ba? paano po applicable ung win-win deal sa ganitong set-up if for example, hindi flexible ang seller sa terms, like cash basis lang ang gusto niya. how do we go about this?

thanks po for posting here :)

i'll try to visit ur blog regularly :)



ace_01

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Reply #13 on: Jul 14, 2008, 02:18 PM
hi lilywhite, may konti n kong alam sa buying foreclosed properties.. i can share my little knowledge to u..
Posted on: Jul 14, 2008, 02:09 PM
alam mo, in real estate investing, all u need is some basics, but u dnt have to know  it all, konting guts din, and konting capital, syempre, but dis capital u r tying 2 invest say for example 20% of the cash price, mababawi mo rin in 2-6 months.


lilywhite

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Reply #14 on: Jul 14, 2008, 02:33 PM
hi ace_01! thanks for sharing :)

guts...hmmm meron ako niyan  :hihi: feeling ko nga may pagka-kapal-muks nako sa pag-inquire noon sa mga banks  :D ang lakas ng loob kong magtanong-tanong, at natry ko na ring bumisita sa mga properties nila.

paano ko kaya mababawi kaagad ung investment ko, for example ung 20% DP? ang alam ko lang kasi na way is to find din kaagad a motivated buyer.

may binisita akong res'l lot last week, nasa subdivision siya. before, it was priced at 2,500/sqm (market price ng bank), now it's down to 2,000/sqm (auction). zonal value niya is 3,000/sqm.

if ever na-acquire niyo na po ung property, how much are you going to sell it?

thank you po for any input :)


 


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