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All Forum Posts by: Adrie Moses-bailey

Adrie Moses-bailey has started 10 posts and replied 51 times.

Post: Why are they selling?

Adrie Moses-baileyPosted
  • Miami, FL
  • Posts 51
  • Votes 14

I think its a valid question but you are asking with the wrong intuition. Why are they selling may help you create better win win that could get you a better deal. Their selling may not mean anything is untoward just that their situation has changed and they want something new or to get out of what they have, they could have run into financial trouble, gotten tired of being owners or want to deploy their capital in a better market. The only way to find out is by asking and being open to what they say and what they don't say.

Originally posted by @Chris Mason:

Anyone else remember when Bernanke's refinance on his personal home was denied due to self employment <2 years, even though he was making $250k per speaking gig and one speaking gig would be sufficient to make well over an entire year's worth of payments? 

Edit: here it is

 That's both hilarious and absurd but I can see the banks position. Quick someone recommend him a portfolio lender.

Hey Guys Marketplace had a really interesting interview with these three major guys during the financial crisis that some of you may be interested in and I wanted to share. Here it is 

I would love some discussion on this, what did you think? Could it happen again? What would you do differently this time?

Hey,

I am coming from NYC and investing for Cash Flow(CF) here is virtually impossible here at prices I can afford. On the other hand laws are such that even in other towns nearby I am not too keen. I do love the city of Charlotte from the times I have been there and the people but I am wondering what you all think of it as an investment location.

Couple things I would be interested in-

What price point are people finding to work well?

What do vacancy rates look like?

Does anyone know a good realtor or property manager for working with investors?

Which neighborhoods are better than others and which should be avoided like plague dens? Why?

Is there another nearby location that's even better and what makes it so?

Donald Shaver no not rolling in it but BAH is nice all year long and tax free income plus hazard pay is even nicer on deployment. I am a reservist but my active duty buddies are doing quite alright while learning management at a young age to boot (officers).point being that they basic pay is a lot nicer after having living expenses covered. Of course it doesn’t matter if you go blow it all on a car and alcohol every pay day.
I would love to know how he selected the market he invests in and if he ever wonders about diversification. As another poster said it’s absolutely true that military members make a lot more than people think they do a lot of it tax free, especially during deployments.
Originally posted by @Ali Tayeh:

A very interesting article, thanks for sharing Joe. I've been working in one of Detroit suburb for the last three years and I'm about to close on my first home inside the city. 

 What are the top things investors should know before jumping into Detroit in your opinion?

Post: Becoming Licensed in NYC

Adrie Moses-baileyPosted
  • Miami, FL
  • Posts 51
  • Votes 14
Originally posted by @Joseph Profaci:
Originally posted by @Adrie Moses-bailey:
Originally posted by @Joseph Profaci:

Hey thanks so much. That was laid out so clear and is incredibly helpful. I am not quite ready to give up my nine to five but would like to get my license and maybe work part time as a realtor to get my feet wet and see if I can make it go at all/enjoy it before diving in. I recognize it is nearly impossible to have any real success without being fully committed though.

No problem, the least I can do. When I first started, I had another job that I kept as well. When I had established myself to a certain point, it became hard to complete my Real Estate duties while working at the other job so I had to let it go.

I would do as you said and work part time and see if you like it and could turn it into a career. Have a good day!

 Thanks man, I appreciate you sharing that, glad to see I not being silly trying to do both

Post: Becoming Licensed in NYC

Adrie Moses-baileyPosted
  • Miami, FL
  • Posts 51
  • Votes 14
Originally posted by @Joseph Profaci:
Originally posted by @Adrie Moses-bailey:

 What did you use to prep for the exam, how did you register. I am looking at getting licensed as well.

First find a brokerage that is looking to take on new agents. Ask them if they will offer any type of training or will pay for licensing and education. 

Then you will need to find a Realtor Association that offers licensing course. You can chose in-class or on-line licensing courses. I chose on-line but some learn better in class room settings. 

www.hgar.com is the realtor association that i use, they cover from the hudson valley where I live and work all the way to manhattan and bronx where you are from. 

http://www.hgar.com/education/

You will find on-line or in-class education. To become a licensed new york sales person, you need to first complete a 75 hour mandatory course. 

"This course is designed to provide you with the 75 hours of instruction required to be eligible for a New York Salesperson license. This course prepares you for the New York state licensing exam as well as provides the practical business knowledge and foundation necessary to be a successful real estate salesperson in New York. A proctored final exam is required before the certificate of completion is issued." 

So you apply for that:

http://hgar.leaponline.com/online-education/new-yo...

Complete the course and take the proctored exam at their location and now you have completed the course.

But now you have to sign up with the NYS Division of Licensing Services for real estate salesperson

https://www.dos.ny.gov/licensing/eaccessny.html

This is where you find the location to take your state test as well as the license application.

So once you take the test and pass because you took good notes and reviewed them, you are going to wait for the results and hopefully by now you have found a broker!

Once the Pass grade is posted on the website you should be good to go. For me, it was a few years ago and I kind of forget the process but that is what the broker is there for.

You will also need to join a real estate association and the Multiple Listing Service. HGAR provides HGMLS. 

http://www.hgar.com/join/


If I remember correctly, it cost me around $1000 to get started as a NYS Licensed Real Estate Salesperson. $600.00'ish for realtor association membership, $199.00 for online course, $50.00 for test and maybe license application has a fee of $50.00 so maybe around $899.00 to become an agent?

 The HGAR membership fee is a little under $600 per year, but that's a business expense and you're going to use it as a tax deduction as well as all the other expenses accrued for business related tasks. 

HGAR Member Benefits

Automatic Membership with New York State Association of and the National Association of

You have three powerful partners enabling your success.

They are going to make you take a new member introduction class that is like 3.5 hours and maybe an ethics class. 

The state test was $50.00 in 2012; Don't know if it changed. 

Think I covered everything!! If you have any further questions, please feel free to ask! I wish you the best and have a happy new year!

 Hey thanks so much. That was laid out so clear and is incredibly helpful. I am not quite ready to give up my nine to five but would like to get my license and maybe work part time as a realtor to get my feet wet and see if I can make it go at all/enjoy it before diving in. I recognixze it is nearly impossible to have any real success without being fully committed though

Post: Becoming Licensed in NYC

Adrie Moses-baileyPosted
  • Miami, FL
  • Posts 51
  • Votes 14
Originally posted by @Andrew Poitras:

@Llewelyn A.

Hey Llewelyn, yes that's correct 123 Williams St! It is quite dated, but nothing municipal is ever "with the times" so I wasn't surprised at all. 

I appreciate the suggestion. I actually purchased my first home through KW so I have a person there I can start the conversation with.

Feel free to keep in touch. 

 What did you use to prep for the exam, how did you register. I am looking at getting licensed as well.