All Forum Posts by: Andrew Jones

Thank-you for your wisdom! I am glad you took the time to answer my question.

Andrew J

Thank-you for your response! Do you know if you can quit and return without having to re write the test? Or is that once store paying the fees you are forced to retake the exam?

@Ming Lim Thank you for your insight!

Hey BP community!

I am looking for the knowledge of a past or present realtor to answer these questions for me:

Once you pass the test to become a licensed realtor can you have access right away to the premium part of the MLS?

Do you get to have access to the more in depth information provided by the MLS if you are not associated with a company?

Once you leave the company can you still have premium access?

Do you need to hold a licence that is in effect to access it?

I ask this because I am interested in acquiring a license but I am unsure if the fees associated with holding one are worthwhile for the potential one or two transaction I'll be making a year to invest in my own personal property purchases.

Thank you for your feedback,


Andrew J

I was wondering what the BP community thinks about these types of certifications: 

Mortgage Broker

Specialized Mortgage Broker

Commercial Real Estate Broker

Residential Real Estate Broker

The fastest each schooling can be completed is about 4 months. 

Do you think they are useful not only for personal use as a means to help with investing in real estate but also as something that can help me earn a living? I look forward to hearing some of your opinions. 

I think it's great that you brought your story to life through that video!

@J Scott 

 So the solution would be to raise rent or find another neighborhood with a potential home that rents at a higher rate but has homes that are worth less? Sorry my math is skewed. However I'd like to thank you for your help!

@Steve L. 

The value of the land (of a potential home) is worth only 25% of the total value of the property. Though I do agree that the assumption is wrong. Thank you for your input!

Thanks for you comment @Andrey Y. !


I will start the book tonight and I'll check out the rest! I am just wondering if you could enlighten on something though. Wouldn't you want to see depreciation as an expense because the bottom line is that  you'll be out of pocket in some way because of it? Or is it just a fact of life that income properties don't entirely get paid with tenant money even if it seems like it? @Account Closed  

I'm trying to understand the calculation for depreciation. I used a calculator and entered some numbers to find the yearly depreciation of a rental property. It tells me that it would depreciate in value by 7,700 a year. How is it possible to rent a home and at the same time make money if there seems to be so much money needing to be paid for.

Depreciation                7.7k
Insurance                     N.A.
Heating                        2.4k
Property tax                  4K
Mortgage Payment     15k

                          Total: 29.1

29.1/12= 24.25

I can't see how a tenant would pay 2425 a month to live in a home in my neighborhood.

Nice homes are renting for 1000 a month.

Example of a home in my area:  http://location.duproprio.com/4-et-demi-a-louer-st...

It seems a tenant would have a lot each month just for me to break even (pay the mortgage). I would have no surplus to reinvest back into the property for repairs and such.

Could someone please enlighten me on this? Thank you in advance!


Andrew

Wow! Thank-you for your wisdom. You guys have reminded me and shed light onto certain numbers and situations I didn't think of. I listen to the podcast quite often and try to explore the forums but for a newbie it isn't always easily to remember all this information.

Thanks again!