Fannie Mae Foreclosures
I found a house on the Fannie Mae foreclosure list and went by the property to take a look ( this is not in my town) called the realtor while I was in this town to take a look, went home and ran some numbers. A few days later was looking on the fannie mae website and this house was no longer listed. I called the realtor and she said the house had not sold and was "bank owned" . My question, if the house had not sold, why did it drop off the fannie mae list and is now bank owned. Any help understanding this would be greatly appreciated. Thank you --EB
If you want the house put the agent to work so you can get it.
If forclosures is what they do best, why would they teach you that exact thing in their own city? Are they even local? A Mentor is usually MUCH LESS helpful if they are over the phone. Even less so if online. But assuming they have a legitimate intent to help. Ask for references. Prior students you can talk to. Deals they have closed. Numbers on those deals, and total dollar volume of deals for say, past year, two, three.
LouIinvestor,the rep said they have mentors all over the country. I will ask those ?? you presented.
Thanks
cambana
hello,
I wanted to ask the same sort of question. I have tried to get started in this aspect of real estate but I need more assistance/advice than what I am receiving from the person I am learning from now. I was thinking about a mentor situation (saw the ad on another website) - it looks sincere however I am curious to know of their true intentions. Has anyone had a positive and productive experience with this avenue of instruction?
thanks
c_13
Have people on here ever mentored people peronsally? I would love a real estate investor to mentor me that I could trust.
When it comes to coaching and mentoring you will find a multitude of programs with all different options but do consider a few factors.
True coaching and mentoring is better served in your area - learn about your market area and than interview the potential coach or mentor about your market area to truly provide you proper coaching and or mentoring one needs to know your local market.
Sometimes you will find a coach or mentor at your local REI club or even doing volunteer work with one or two of the top realtors in your area that are active investors themselves.
True mentoring is taking you by the hand and walking you through all the steps.
I had the privilege to work with a vary large real estate guru many years ago and he took me on a tour of his coaching facility on the west coast and what I saw was a sea of vary young people with headsets on taking incoming calls, typing questions into the computer and using flip charts to provide answers to investors and the odds are not one of these coaches has ever done a real estate transaction and the cost at the time was just under 2k a year.
This is not a knock on any gurus system, but you need to try and find a coach that can teach you from experience as it will help you avoid a few pot holes along the road of real estate investing.
Many put a price as the deciding factor of an education and this is an error because the cost of ignorance is much greater.
[addsig]
You need to come to Alabama..lol
Quote:
On 2005-03-01 15:12, AdrianEI wrote:
You need to come to Alabama..lol
I do from time to time - take care
Many mentors have a hidden agenda. I believe that a good mentor is great. But you should never partner or have any business deals with your mentor or even business deals that your mentor originates. It is kind of like going to a psychiatrist to help with your marriege when the psychiatrist is sleeping with your wife. Not very objective.
Brenda
Hello all , I saw some of the postings and had to stick in my two cents worth. Anyone can go to the local Barnes & Noble book store an learn what the so called "mentors" teach. Most larger cities have Real Estate Investor clubs that bound like minded people together to shoot advice or ideas off each other. I would advise anyone to go their first before a "mentor" group. :-D
Hello,
May I suggest you go to "foreclosure.com". They have a section of "gurus to stay away from". And they also have investor inputs of different people and sites that are rip offs. It taught me to stay away from some of them.
Good Luck.