Real Estate: Georgia/Real Estate

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Question
My name is Rashad.  I have invested in real estate for a living a few years back.  I am in the process of rebuilding my credit and rebuilding my capital. I live in Georgia.  I feel like I should be doing some things in the mean time.  I'm frustrated because it feels like I cant do anything without credit or liquid. My questions are as follows:

1.  What are some things that I can be working on or attending, etc in order to get a jump on things?

2. Do you know of any ways I can make money in the field of real estate if I have bad credit and less than $5k saved?

3. Do you know of any private lenders who's qualifications would be to look at my job history?

I am eager to leave my 9 to 5 and get back to working for myself.  Please help!!!!

Thanks.
--
Rashad A. Shaheed

"Passion is the genesis of genius."

Answer
Hi Rashad,
You say you had previously invested in Real Estate for a living, but you don't say what you were doing?  Selling, flipping, rehabbing and flipping, rental properties, or what?  You also say that your credit is bad, so I would assume that what you were doing in Real Estate failed.
1.  First thing you should do is rethink what you are going to do in Real Estate.  If what you were doing failed, what reason is there to think that now it will succeed?  It will probably take at least ten years for the market to recover.  Keep that in mind.
2.  If you are interested in rentals,  check out John Adams in Atlanta: http://www.money99.com/. John used to do a lot with rental programs and I think he also worked with financiers.  Sign up for his newsletter.
3.  In your current position, probably the best thing to do, would be to find a house in a GOOD location in very POOR repair that you can get for a very LOW price. You may not be able to get financing and may need to find an investor. Anyway, move into it, work at your day job and repair the house nights and weekends.  Then sell it and repeat.
4.  I don't think you're going to find a pile of gold in Real Estate anymore with out adding a lot of hard work.
5.  Of course you could go to school and get a Real Estate license and go out and sell Real Estate.

Good Luck with whatever you decide to do.  

Real Estate: Georgia

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Sharon Huneycutt

Expertise

I cover an area of North Georgia in particular, but I'll be happy to help you with general Georgia Real Estate questions. I also could refer you to someone in a specific area if need be. A lot of people who want to move to the mountains don't really realize what it might involve. For instance, here in North Georgia, if you want a mountain view, you may have to drive up very steep roads. Will you have well water (That's usually good!)? Do you speak septic tanks? Have you considered that if you want really want to get away from it all, you'll do it on a gravel road? Where can I find a good Bug Out Location in North Georgia? What's difference between a Log home and a Log Sided home? How can I tell? What's a "Shared Well"? What do you mean "Easement"? Who takes care of the house when you're not there? Can I raise chickens? Where can you stay to check it out? This is a very popular area for second homes and investment properties or when you finally decide to get way from it all, I can find your perfect property. I can answer questions on North Georgia Mountain living, housing, land, amenities, and activities. We handle a lot of foreclosed properties in our office so I have become a Certified REO Specialist. REO means Real Estate Owned and is the industry name for a Foreclosure. It refers to "owned by a bank or other corporate entity". Of course since I'm in Georgia, I can help you with the way Real Estate is handled in Georgia. If it involves an area of expertise I don't have, I can probably tell you what kind of an expert you do need.

Experience

We've had property in the Ellijay area for over 15 years and I've been selling Real Estate for over five years. My husband, who is a Civil Engineer and Appraiser, and I built our own log home. We researched log homes and North Georgia for three years before choosing Ellijay. Because of the building experience and being married to an engineer/appraiser, my real estate experience is a bit more extensive than average. I also am an education freak believing that the more you know, the better off you are. My husband and I both like photography, so we drive and hike all over the mountains looking for pictures. I typically cover an area including Pickens, Gilmer, Fannin, and Union Counties. I occasionally venture off into Dawson, Cherokee and Towns Counties. Selling Real Estate in the country has a number of aspects not found in City Real Estate. Make sure your agent is experienced in country real estate if you're buying country property.

Education/Credentials
MHA, CMA, Licensed Realtor, Associate Broker, e-PRO, GRI, Certified REO Specialist. Realtors are required to have 24 hours of continuing education every 4 years. I have well over 200 hours in the past five years. That's almost 10 times the required education for an agent who's "just getting by". A Real Estate purchase is one of the most important things in your life. Don't pick the kid at the bottom of the class to help you with it. Those little letters behind a Real Estate agents name are an indication of their interest in doing the best possible job that they can for you.

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