Are YOU Ready for the Housing Bubble?

Thats right, I am asking the hard question right up front. Are you ready for the voyage we are about to undertake? Are you ready for the rocky road that some are predicting for the real estate market over the course of the next few years?

Before you go any further take a quick peek at my article on page 7. I wrote about the Greater Puget Sound Real Estate Market and the outlook for the next 6 to 9 months. I stole this article from my website because it is poignant for the discussion we are having here.

Over the last year or so, have you been in the field applying the knowledge that you have gained? Are you actively looking for properties, driving neighborhoods and doing your research? Is your companies infrastructure setup, website, information hotline, buying scripts ready? You have gotten educated on real estate investing havent you?

Take this little test to see how ready you are:

    * What is a 2/28? Or how about a 3/1 or a 5/1 ARM?
    * How do you get your Comps?
    * Describe Subject To Investing.
    * How can you use Lease Options as an exit strategy?
    * What is MAO? How about ARV?
    * Explain substitution of collateral?
    * Describe how to set up a land trust.
    * Who is your Mortgage Broker and what is her telephone number or email address?
    * Who is the best escrow company to used for a Subject To closing?
    * Explain the difference between a hard money lender and a private lender.
    * Is Washington State a judicial or non-judicial foreclosure state? How long does it take?
    * How do you get a preliminary title report and how do you read it?
    * How much does a kitchen cost to replace on a 1500sq ft house?
    * What is a Deed of Trust?
    * What is a lien waiver and when is it used?

About Author

Paul Galasso is President and founder of REI Success, LLC. Real Estate Investing Success is an investing education company dedicated to helping investors hit their strides faster allowing new investors to become independent more quickly and giving them more control over their future earning potential. For more information visit www.rei-success.com.