A little background here.. I am trying to get myself out of a terrible financial situation. I was 22 when my husband and I bouught our first home (which is upside down) and started accumulating debt. I live in Las Vegas where the real estate market has plummeted. My husband and I are separated, and have about 45 thousand in debt bewteen the both of us. We keep tinkering back and forth between doing a bankruptcy or just paying our bills off.I have gotten setlements on 3 of my accounts, so that would bring me to $30000 in debt approximately, the also offered to do a loan modification, POSSIBLY approved after a six month forebearance on our home. Bringing our payment from $2500 a month to about $1200. But we wont know for 4 months if that is even approved and it could go either way. I am in the reserves and trying to go on a deployment for 7-9 months that would be about $38000 tax free before the end of the year. If I do a Chapter 7, I believe the majority, if not all, of that money is protected. I could save it, and use about 1/2 of that to buy an investiment home, but I won’t be able to buy one until after statue of limitations which is 2 years minimum?? If I don’t do a bankruptcy then I plan to pay off the settlement accounts first, while paying the others off consecutively (monthly) to reestablish history.after 6 months to 1 year of rebuilding my history then I want to buy an investment home. I am now 25, and I know now basic necessities to be secure. Such as 3-6 months emergency fund, as 0- minimum amount of debt as possible, and securities to help me survive or profit from the recession, my choice is real estate since I’ve studied it, I enjoy it, and I believe firmly I know how to make money in it. And I don’t know much about any other market, such as the stock market, orinvesting.Please help. We have been riding the fence for about 7 months, wasting time because our minds keep changing. We are separated but which ever way we decide to go with this we plan to help each other. I want to build my wealth, become secure, and have long term investments. I want to start up a business (home staging) within the next 3 years also.

Im looking to flip a house, but im afraid it wont sell soon enough due to the market, and ill loose alot of money on my hard money loan
I live in kansas city
is it possible to actually make a flip within 6-12 months?

I asked a previous question about taxes and escrow and noticed that a few responders recommended seeking advice from a real estate attorney. I’m still very early in the buying process for a home that would cost less than $200k. From a cost perspective, does it make sense to retain an attorney? What are the advantages?

Can a non-member get a house by going to the white knights’ castle and talking to the agent?

If a real estate agent has to have their broker sign off on everything they do paperwork-wise, such as, a buyer terminating the contract between the real estate agent, would you say that makes the real estate agent fairly new? That she would need her broker to sign off along with her signature, I would think if they had their license for years and years, they wouldn’t need someone higher than them to sign off on important documents.

If there is a bubble and if that bubble does burst, how much do you expect to see the values decline?

I’m so tempted to sell my home (San Gabriel Valley – purchased in 2001) and rent instead of buying right away.

I have 15 acres and a home I want to sell. The land is eligible for a split. If I split 10 acres and sold it as one parcel, then sold the remaining 5 acres with the house, would I make out better financially than just selling the house and 15 acres?

I recently got my real estate license, and such, and i was just wondering, I have turned in many applications, and ive gotten called back for interviews on most of them, almost every major real estate company in the area, who is the best to work for? Who sells most properties? I’d like to know who gets the most work before making my decision, you know finding a job is a big decision, and when i have so many oppurtunities, i want to make sure, im making the best choice, and not getting screwed, Thanks!

*Windemere
*Keller Williams
*Remax
*John L Scott

By the time my mom died, my (seperated) dad had been living with another woman for 10 years. In Illinois, a commonlaw state, I think that would make them commonlaw married. I don’t know if that would factor in to this issue.

Regardless, when my mom died all her will said was “everything will be divided by her heirs” (three of us) and there was “no provision” for her husband.

However, because he was on the forms for the real estate, he inherited all of it.

With Illinois being commonlaw, shouldn’t he have received 50% of the real estate, with the other 50% being divided 3 ways between the heirs?
I didn’t mean whether or not commonlaw would mean he was married to someone else–that was sort of an “aside” that I thought might, or might not, affect the case.

I thought commonlaw meant that property belonged to both my mother and my stepfather.

However, a lawyer I spoke to claims this is not the case. He claims it all goes to my dad.

I wanted to check because this lawyer was a friend of my dad’s. And has been known to make mistakes.

Generally, the consensus is, this should’ve gone to probate way back when.

Too late for me.

i am interested in becoming a real estate agent but im not sure if it is a good time to become one now. Do you like your job and is it what you thought it would be?