All Forum Posts by: Aaron K.

From what I understand it is an appraisal situation that would help you avoid any legal difficulties.  The IRS doesn't want you artificially inflating cost basis a 3rd party appraiser even though it will cost money is probably a good way to go.

@Rob Beardsley is right the best way to get their attention is to be able to provide value in some way.

Most of your questions seem to have been answered here except for the when.  Once you have significant 1099 income (meaning income not from a job where an employer deducts taxes from your pay)  you will have to pay quarterly taxes that are calculated using estimates that you generated when filing your taxes for the previous year.

Best strategy for you and them is to only make offers that are realistic to the seller otherwise you are just wasting your own and your Realtors time.  It's ok to analyze properties and not make an offer because the numbers are too far off, you can also ask agents if your expectations are realistic, if they are then great you will probably find a property that works for you; if not you may have to adjust your expectations or you will likely have a more difficult time getting sellers to accept an offer.

I agree with @Russell Brazil California is not going to give you properties that meet the 1% rule.  As long as you have realistic expectations and focus on total expected return instead of other value metrics that don't work everywhere you should find a property that suits your needs.

If you want to get paid to do it the best option will probably be becoming an analyst, otherwise you can just do it on your own for practice with properties you see online.

If that is the case and the area has good schools and a high percentage of home ownership it is likely a high demand area that people who can't afford to buy yet would love to live in.

It sounds like your agent is actually contacting the listing agent and being told that they will have it soon and it is the bank dragging their feet.  Especially with short time frames like that I have been in similar scenarios where I pass what the listing agent has told me along to my clients and it ends up taking a bit longer.

Saving.

I think that $2,000 isn't going to go very far, but if you start working with clients you may be able to save up a bit more and get enough for a down payment on either a flip or rental property in your area.

If you are looking at rentals it will be VERY difficult to get financing without having a stable income first even if the property would theoretically pay for itself on paper. If you want you can become an agent or real estate analyst to evaluate properties for other investors, this way you could learn while on the job and earn a paycheck at the same time. For buy and hold if you go the multifamily route you may be able to use an FHA or FHA 203k loan to purchase your first property with little down, you would be required to live in the property for a period of time but it would be an option to get started sooner rather than later.