All Forum Posts by: Amber Forkey

That will help. Some basic topics areas I would advise becoming familiar with are current market trends in your area for real estate, as well as financing opportunities that you'll be able to utilize (assuming you won't be paying straight cash for the property. For example FHA loans are available for multi family housing under 4 units but you must occupy one unit yourself. You may have heard the term "house-hacking" before, this is where you buy a multi unit property and live in one while your renters pay your mortgage and expenses for you. The benefit to financing with an FHA mortgage is the low down payment that's required (far less than the typical 20% down for a conventional loan, usually around 3-5% of the loan amount).

The property analysis calculator here on BiggerPockets will help you tremendously. Since there are so many numbers that go into analyzing a property, this resource will help keep the process as simple as possible while allowing you to see whether or not it's a viable investment option. The calculator will have you input amount for things like property taxes (which can be found on your county's website most times) property insurance (you can call any insurance agency and have them give you a quote on the property) and other factors such as vacancy rates, mortgage payment and property maintenance fees. 

Start analyzing and then when you find a property where the numbers work, submit an offer on it. 

I would start communicating with some of your local real estate agents now and let them know what you're looking for. Sometimes it takes talking to 3 or 4 agents before you find one you grove well with. They'll be the one to submit the offer on the property for you if it's listed on the MLS. Zillow is my go to when searching for properties but then again your area might offer RedFin which I've heard a lot of people speak highly of. The key is to just start looking at properties and becoming familiar with what's out there.

When you say "investing in real estate" do you have a path in mind? For example, are you considering single family, multi family, commercial, ect? Being able to set your focus on one for the moment may help you when you begin your researching journey. You'll be able to filter out some of the information that doesn't apply to you just yet. 

Hi Alex,

I just finished the 75 hour NYS salesperson pre licensing course through The CE Shop and passed the proctored final exam that will allow me to sit for the state test on the first try. The way they structure the material is very easy to follow and understand. In addition, their online support is fantastic. I never waited more than a minute or two for a question to be answered.

Cost wise, I paid for the premium package but that includes the 22.5 CE package for the first renewal of my license. That's the only difference between the premium package and the value package. Everything is online, there are no books but all resources are provided in PDF versions so you can download and print them off if you'd like.

You had asked "is it worth it?". To me, anything that will further my education on real estate and broaden my perspective is worth my time. You'll get various types of responses ranging from absolutely to heck no (depending on who you talk to). At the end of the day, it's a short course and it certainty won't hurt you to have it. I'd say knock it out, pass the tests and get licensed. In my opinion it helps to build trust, especially seeing as how you want to get into the flipping business. It's all about disclosure once you're licensed.

To give you an idea on the timeline, I started the course on March 4th and finished it on March 31st. Took the practice final after reviewing the materials on April 2nd and sat for the proctored final exam this morning and passed. Now I'm just waiting to take my state test in May (that's the earliest a test site is available).

The only regret I have is that I didn't just do it a few years ago when I first starting thinking about it. So my advice, rip the band aid off and get started :)

I hope this helps and if you have any other questions or just want to pick my brain feel free to message me.