Right now is the perfect time to be investing in real estate!

Okay, I don't know why, but I'm just freaking terrified of making low offers on the higher-priced homes up here. Things up here are in the $280k-$500k range, and I'm completely tripped out by the thought of offering $150k-$250k less than FMV on a house! I'm also tripped out by asking my agent to do it, even though she's told me she's game. I'm afraid she'll get herself black-balled from the RE community or something, LOL!

I live in VA and I am interested in a property in Maryland. I want to write up an offer to present directly to the seller, since there isn't any agent involved. If I decided to use a Buyer's agent, how would they get paid, how much would they get paid and when would they get paid? Would they earn 3% or 6%. I am not sure.

Well, I finally did it. I made my first offer on an REO with NO MONEY DOWN! Unfortunately, I had to bypass my friend the realtor because she was holding me back with a bunch of excuses of why my offers wouldn't be accepted. I went direct to the listing agent. We did everything by email. Here is the run down...

3/2 SFR 1226 sq ft

ARV: $124k (conservative)
Repairs needed: $20k (on the high side)
DOM: 111
Asking: $104,900
My Offer: $60k

When I got started, probably a lot like most of you, I didn't have money, experience, or knowledge, but I had a massive DREAM. My dream was so big that when it was sitting there in front of me it completely blocked out all of my obstacles. I really couldn't see my obstacles. All I could see was the prize. Because of all that I was very, very nieve. I thought that real estate was like a recipe. When you bake a cake, you add the correct amount of ingredients at the right time, put it the oven at the exact temperature, and take it out of the oven at the right time-YOU ALWAYS HAVE A CAKE COME OUT. You don't second guess the ingredients or the mixing and baking instructions. You just follow the instructions.

Reluctant would-be homeowners must do their homework before agreeing to build equity by renting.

In Depth: Rent-To-Buy Pros And Cons As home prices continue to drop, consumers are taking a harder look at rent-to-buy options, in which potential homeowners commit to a multi-year lease with a future option to buy the property.

In other words, it's nice to have an out. If property values plummet, the renter can remain a renter until the agreement expires. Should values rise, then the rental payments count toward a purchase of the home within the agreed-upon time period.