<p>We have equity is a second house that we consider to be an investment. On the Profile that I submitted, I responded to the question about Other Real Estate, giving the value of the equity in that house, and then I included the value of that equity in the figure that I reported as the total of our investments. Did I report the same asset twice, resulting in those dollars being counted double? If so, what do you think I should do - e-mail my D's college financial aid office to explain?</p>
<p>The question on the profile says “What is the total current market value of your parents’ investments? Do not include your parents’ home, business, farm, or other real estate.” I would take it that your other home should not be added to your total investments. It should be included as other real estate later on the form. You might want to check with the schools financial aid office to see if this is correct. They can make the change for you on the Profile form I think.</p>
<p>Thanks - I did not list the first (primary) home among the investments, but listed the second, even though we receive no income from it. (We see it as an investment because we bought it for a reduced price and anticipate its value increasing - I know, kind of ironic right now :).)</p>
<p>bump…</p>
<p>Your equity in the hose is it’s current value minus any mortgage and expenses. If you bought it for cash you can at least just report current assessed value. It doesn’t sound like you double reported it.</p>
<p>PA 145 asks for your primary residence. PA 180a asks for other real estate. There are worksheets that list what to include in calculations for total investments. It specificlly states for PA 120, “do not include your parents’ home business, farm or other real estate.”</p>
<p>GADAD: They would have liked this info by March 27th. I think we’re both running late!</p>
<p>What’s up, DocT? I got our Profile in by the Priority deadline, but then I started wondering if I’d been working too fast!</p>
<p>I have a question about investing in real estate. I graduated about 2 years ago, but I haven’t been able to find a job yet. I’ve been doing some research about investing in real estate. My question is, does anyone have any experience with wholesalers? I learned that there are wholesalers out there that will sell you investment properties really cheap… I figured if these guys are legit, then it could be a safe and easy way to invest in real estate. Does anyone know of any wholesalers, have a view about wholesalers or investing in real estate at all??? I ran into an agent at a brokerage called NetWorth Realty, he gave me his business card and told me to see their website… At this link you’ll see their available investments: [Available</a> Real Estate Investment Properties | Real Estate Investments](<a href=“http://texaplexinvestor.com/category/available-real-estate-investment-properties]Available”>http://texaplexinvestor.com/category/available-real-estate-investment-properties)</p>
<p>Can anyone give me any feedback about this or tell me where I can go for help…? Thank you in advance</p>
<p>Feras</p>
<p>
Sorry, there are no safe and easy ways to invest in real estate. </p>
<p>I glanced at that web site, what I can see they are selling houses to renovate and be flipped. It looks hugely profitable, based on their numbers. But ask yourself:</p>
<p>1) Where did they get their renovation estimates? Pulled out of thin air, probably. You think the “contractors” they got quotes from will be there or honor the price? Unlikely.</p>
<p>2) Where did they get the ARV’s from? You need to do your own research to see if they are accurate.</p>
<p>If it was so simple and easy, why aren’t these guys fixing these up themselves? They might make $2500 commission selling one of these, yet if they fix it up, they can make double the commission and an extra $50,000 in profit (according to themselves). More than likely, they are cherry-picking the best ones, leaving the garbage for others.</p>
<p>You need a lot of experience to tell whether a house is worth rehabbing, and where the landmines are, along with being able to manage a rehab (permits, estimates, schedules, etc) and deal with contractors. You need contacts to know where you can get financing from, who the good contractors are, lawyers, etc.</p>
<p>And you need a decent pile of money to start, you won’t be able to borrow everything.</p>
<p>You can certainly make money in RE, and flipping is one way to do it, but it certainly is not safe or easy.</p>