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- Q: does anyone know about or have a job in real estate?if so what can i look forward to do in it. im kinda intrested in it but i dont want to just jump in and it not be so great so to say.thanks.
- Depending on where you live and how much time/effort you put into it, it can take 6 months or 2 years to get yourself situated and stable in real estate. Be sure to have another source of steady income to support yourself in the meantime. You'd have to not only be self-motivated, but enjoy working with all types of people and rise to all challenges. Right now it's a buyer's market, so you wouldn't have an easy time flipping houses so to speak unless you have the time, energy /contacts, and money to make it work. Because to get a worthy investment you would be looking at some major fixers, then need the sources to fix it quick and get it out there in the market. But there's alot of inventory right now, and buyers are having a field day picking and choosing. Alot of Realtors are pulling out because they got used to the easy days when buyers were out bidding each other just to get a place, oftentimes sight unseen. It's not like that all all nowadays, so those guys who came in at this time are finding they actually have to work to make their money. Don't jump in unless you're fully confident you will stay in the running, and good luck :)
- Q: I've heard a couple of prestigious real estate agents in my state ask people via online for unpaid interns. What are the chances they'll hire me if I have alot of experience and a wealthy family?Do prestigious real estate agents like having unpaid interns (teens with RE licenses)?
- Teens can't have real estate licenses because you have to be of legal age to be an agent. Also, it really depends on the agent and whether or not the intern or assistant has a license. If you don't have a license, you're essentially only good for receptionist/admin work. You can't show properties (you can open doors but you can't answer ANY questions), you can't answer inquiries, you can't do a lot of stuff. Also, some agents (prestigious or otherwise) are cheapos! They love free labor and will try to bend the rules to get the intern to do anything. That's fine because the intern won't be the one held liable, but trust me, they will milk you to the last drop. Even with paid licensed assistants, they're all mostly overworked and underpaid. I've seen agents guaranteed $50K/yr for 9am-5pm work and some weekends only to walk away very bitter and nowhere near that amount. Also, a lot of agents don't want to mentor because they might consider you as eventual competition in the business. I am in an office of over 500 agents and I know that 80% of the experienced agents who have been in the business for decades REFUSE to mentor or even help you in any way. They will use you for open houses but they sure as hell won't teach you anything and they often try to back out of an agreement if it means they make more money. So if you are going to be an unlicensed, unpaid assistant or whatever, I suggest you not be so naive or think that it'll be a great learning experience.
- Q: I am trying to buy properties in Michigan, but my real estate agent doesn't return my calls and emails. Is there an easy way to make offers without a real estate agent?
- If you are having trouble with your real estate agent you might consider calling and speaking with your real estate agent's broker. You might request another real estate agent from this office or you may terminate the contract with the broker and his real estate agent. Keep in mind that most real estate agent's contracts have a clause in them that require payment of a commission if this real estate agent introduced you to the seller. Making an offer and presenting an offer could be difficult or easy based on your attention to detail. You might find a local real estate offer as a real estate agent would use. This is a fill in the blanks. You might simply write your offer on a piece of paper outlining your offer price, a date to close the transaction (this is a guess at the highest order and will not close on this date.)If you are obtaining a mortgage loan to purchase the property, the amount of deposit you would be making subtracting this amount from the offer price.Have the seller sign this offer if they accept the offer. Take this signed offer to a local escrow closing agent and a title company to complete the documentation. This is exactly what a real estate agent would do with a signed offer. The escrow closing agent would then prepare escrow instructions, based on the signed offer. If there are additional information or documents needed the escrow closing agent would request them from you or the seller. Between the escrow and the title company, they would make sure the transaction would close based on the local, state and federal laws that would govern real estate transactions. I hope this has been of some benefit to you,good luck. FIGHT ON
- Q: Hey I'm New to investing and Real estate . I only have what I've learned from The books I've read and the Videos I've seen on YouTube on the subject of Wholesaling and Buying property seller finance.My question is Do you have any tips or tricks or guidance to help and starting Investor.Back Ground : I live in the suburbs of Detroit MI
- There are some situations where you might be able to buy a property for no money down. Read up on double escrows. Since you are new to investing you might find a few low cost projects to work on, selling them successful or renting them. Keep pictures and an account of each property you do as well as the outcome, weather it sold or you kept if for a rental. This becomes your resume. Once you have done several of these, you might now place an ad in your local newspaper or real estate trade papers that you are seeking investors. You might also check for properties that are being sold where the owner is financing the property. If you get this property below market, at times you might be able to negotiate that the owner pay closing cost. Detroit might be a good place to work as there are many foreclosures and other distressed properties there. These are techniques, but you must understand the method in how to do these techniques to be successful as an investor. Because the technique is there you might not want to use the same technique for certain properties that you would buy. One of the things you might consider is finding the local real estate investment group in Detroit, Michigan and joining it. As a new investor you would be given hands on experience about the investment climate in Detroit. You might also find someone that might want to personally mentor you about real estate investing. I hope this has been of some benefit to you, good luck. FIGHT ON
- Q: what are the factors that make for future hot real estate locations? I am particularly looking f areas that have the most growth potential in 5-10 years. Looking for opportunities in real estate or raw land..
- Try checking out the websites of real estate agents in your area.
- Q: I'm interested in pursuing a career in real estate, but I'm worried about the possible lack of opportunities available in this career field during this economic recession.Are my fears justifiable, or do I have nothing to worry about?Also, what other real estate related careers are out there for someone who has a real estate license?
- A very important fact you must considered is majority of real estate agents are independent contracts not salary employees Therefore until you find a buyer, seller or renter you do not get paid; mean while you have accounts payable: MLS fees; your broker may charge fees of insurance etc; need a cell phone with lots of minutes; need a car to get around; need to pay marketing to get your name out, etc while no monies coming in into you land a sale in some manner or form also any monies you earned is taxable under a 1099, so you will owe state and federal taxes on the monies versus a salary employee where the taxes are taken out before you get your pay check
- Q: What are your thoughts on a a global real estate fund in the current market conditions? Obviously the US RE market has tanked and we are starting to see the global market slip. I recently invested into a 5 star global real estate fund, but am concerned that the global re market will follow suit to the us markets. Should I withdraw my funds or stick it out?Also, this is a short term investment account that we are aggressivley investing our funds. We are looking to purchase a home in abour 2 years and are trying to build some return.
- I don't think the international real estate is going to suffer too badly. I know of someone who owns a house in China and the real estate is still climbing.
- Q: What do you think will happen to real estate prices over the next 3 to 6 months, specifically in Atlanta?
- Atlanta is one of the fastest growing cities in the US and will continue. This is because of the attractive lack of excessive taxes (no income tax in GA), and because it is a transportation hub, readily accessable to the whole world, with ease. That means that the price of real estate is going to continue on it's phenominal increase. If you were lucky enough to own property there five years ago, and still own it, you will see a huge increase in your investment. Investors have already started the process known as flipping, where they buy a house from an uninformed owner for the full asking price, and turn around and resell it at an even higher price than anyone imagined possible. The investor does this over and over with house after house, until the increases cease. I know, because it happened in my town, already.
- Q: I want to get into real estate but I dont know my options. Someone told me I need a license and others say I dont whats the truth? I called a school in my town and they said it will be 595 bucks to take the course for 3 weeks, and whats this about finding a broker that will sponser me for a year? It's begining to get confusing. Whats the best advice for me ...please help I really wanna do this
- It depends what's your objective or aim? There are so many peoples to give advice but its up to you choose appropriate advice from them and go for that..You may become real estate broker and agent..You first need a license..
- Q: I am finding it hard to track down a job that allows me to further my knowledge and skills and experience rather than keep me stuck in the mundane (minimum wage) jobs. Is getting a Real Estate license a poor idea, specially since the house market is so horrible? Or could I gain from it?Also, what is the best avenue for getting my license?Thank you.
- I can't speak for your area but where I live the real estate license classes used to have about 50 at the peak in 2006, now they have about 10 students per class. From each of the large classes the instructor estimates that only about 1 student still working full-time in real estate. Since you are on commission it can be very difficult starting out. Getting your license though can be fairly easy. Check with the local association of realtors or your local colleges for courses. Every state varies in the number of hours of classes involved. Most likely you will not have to go to around 50-100 hours of class, take the state test and you are an agent.
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