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In our Countdown to Closing post we spoke about being under contract to purchase our 2nd investment house (our 3rd house in total). Well I'm happy to say that closing went well and with minimal issues. There were a few things that popped up that threatened to delay closing, but because I was a pest (and because we had God's favor) those issues got dealt with with days to spare. So for now we will rest and enjoy Thanksgiving, but on Monday we will start in earnest getting the minor repair issues dealt with and getting the house on the market for a tenant.
God bless you guys and we hope you enjoy your time with your families this Thanksgiving!
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We've tried selling by FSBO and by flat fee listing. We got nowhere with the FSBO route... think about it, most *qualified* buyers go through a buyers agent. FSBOs attract the tire-kickers and time wasters... I know that you would like to save the 6%, so would I. But the reality is that if you want to sell your house you're going to need outside help. Agents who have qualified buyers lined up are not going to look for FSBOs. Having said that, know that all listing agents are not created equal. See our post here: http://reijourney.blogspot.com/2008/11/your-real-estate-investing-team.html . You need the inside track on a good listing agent who is a go-getter and doesn't wait for buyers to come to them. They will be an expert in your house's market (i.e. if it's a condo, look for an agent that has a good track record in selling condos.) Look at that agent's past listings and see how long they took to sell and at what reduction to list price.
If you want to get wealthy in real estate, the DIY route is not the best way to get there. Don't be afraid to spend the money to get top notch results. As for the websites you mentioned, I have little experience with them. We use the MLS to get a feel for our market and when we're looking to buy a house, when it's time to sell we turn it over to an agent and focus our lives on other more important things.
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