I am able to relate to a lot of folks out there who are getting started in real estate investing.  It has been several years since I closed my last deal because I fell in love with internet marketing.  But because I am ready for a change, and I am feeling the call of real estate once again, I am going through some growing pains.

It does take some time to get back in the saddle of things.  I am broadening my MLS search to all of Knox county.  I feel comfortable with this because I have studied many of the areas and I know what is going on throughout the county.  I know where to invest and more importantly, where not to invest.

But the times have changed and because my old strategies were based off of generating leads from bandit signs, I am having to change my business as well.

I am finding out just how difficult it is to deal with the banks, although you would think they would be making things easier.  It is a little ironic that they have enormous inventories of bank owned homes yet they are reluctant to sell them to investors.

The first problem I am noticing is that in my area most bank owned real estate is priced wrong.  It is as if no one has stepped foot in the home to verify the condition so lets just price the property based on the area comps.  Maybe we just have our fair share of lazy REO agents in our area.  Every now and then their is a property that comes along and is priced right…and it will only last on the market for a few days tops.

The next issue is just how difficult it is to work with the banks.  I know I have complained about this before but I just do not get why the banks think that they should be doing the same things today that they were doing 60 years ago.  The market has changed!

I guess I can chalk all of this up to learning the game.  And whenever I get some more insight I will let you know.

I really just wanted to complain a little bit!

Ross Treakle