CLEMSON — The Madren Center welcomed four real estate experts from North and South Carolina to discuss the market’s future, its ups and downs and what graduate students can expect when they immerse themselves in the fast-paced career choice.

Gary Frederick, head of Hillwood Investment Properties in Charleston; Neil Robinson, coastal developer; Doug Gray from Jamestown Properties in Atlanta and Dan Pattillo from Rooker Real Estate all reunited at their alma mater to share advice, tactics and their experiences with students in the Master’s of real estate program.

While the economy continues to struggle and can largely be traced back to the fall of the housing market, each panel member agreed that there are pros and cons to the foreclosure crisis sweeping the nation.

“There haven’t been as many foreclosures as we expected to see at this point,” Neil said. “We should see many more in the next six months. Even though that means more opportunities for the real estate investor, I warn you to be extremely cautious.”

Especially in the residential market — with such a surplus of homes that have never been lived in — the risk of taking over an older home that will require deferred maintenance, taxes and insurance could very well drown the investor.

Other members agreed that the foreclosure market could fare well for the economy down the road.

“More families and couples are taking over these homes for a cheap price, flipping them, selling after a few years and gaining equity after doing it for 20-plus years,” said Gray.

And even though some companies may be hesitating to hire when these students graduate, asset management organizations are exploding with success and are necessary in order to keep the real estate market healthy and the economy stabilized.

“It’s an excellent route to take,” Gray said. ‘They took off in the early ’90s and because of the weak economy, are taking off again. They are helpful to many companies that may be pushed up against a wall.”

In closing, the panel members highlighted how important it is to keep your word in the real estate business and expect to work long hours.

“There is one exception though,” Neil said. “If you know you’re going to work late, tell your wife what she wants to hear on the phone. Then, we you get home late, she’s only gotten mad at you once.”