The Few, The Loyal, The NICEST!

I posted that consumer sentiment survey in the post below with some trepidation - I really don't plan to turn this into a real estate blog, and that was kind of putting the toes over the line. And I already have several sincere answers utterly sans snark, and I thank you for that.

The background on that: I'm enrolled in a program to become a residential real estate investment agent. Not a genius, not an expert, not a get-rich-quick scheme. I will insist that buyers consult with their lawyers and/or financial advisors - hell, I'll make them put it in writing that they will do just that.

But it's a buyer's market and there are people who have money sitting around in CDs and money market accounts that are earning less than jack these days, looking at the prices now wondering about whether it's a good time to think about buying an investment rental property with some of that cash. What would it cost to hold the property, what are rents and vacancy rates, if I hire a management company what would that cost, what's the bottom line? I am educating myself on all of that so I can provide information to make intelligent decisions.

It's about long-term investment, not late night infomercial get rich quick buying houses for pennies on the dollar, or fix and flip. This is about buying something to hold for a long time, and I really respect the entire concept.

It involves me learning a lot of actual business math and stuff like GRM and other scary three letter words, but I'm fine with that when it's attached to a real life application. Give me something to research and figure out and the tools to do it, and I'm on it. This is business, and this is an under-served part of the market, which is why the late-night infomercial people are teaching their students to get their own licenses and their own MLS access and do it themselves, because agents are USELESS. And fair enough on that - we aren't really well trained in the quasi-commercial calculations about what makes a great rental property, we have to seek that training on our own. So I do understand the market for the late night infomercial people.

I've met those late night infomercial students. I held an open house for another agent a while back, and a couple came in and spent a lot of time examining the house. While he examined, she bitched - it was too small, and Oh My GAWD (in exaggerated Noo Yawk accent - sorry, New Yorkers) only TWO Bedrooms! That just won't work as a rental property! and on and on. The wife announced as they walked in the door that her husband has a license. I just listened to her - I'm guessing they had studied tactics on "How to bargain for the lowest price!" and while he explored, she played Bad Cop to me. The performance was wasted on me, though I really did want to slap her and I couldn't wait for them to leave, and the house found a buyer a couple of weeks later.

So, anyway, that's what the survey was all about - it was an exercise from the training program. And I very truly sincerely thank all of you nice people who came here for stories about the dogs and the screaming cat who answered anyway!