All Forum Posts by: Andrew Waltner

Hello BP!

I am seeking advice on potentially obtaining my RE license to work part time as a RE broker, while obtaining a full time day job in financial lending. I want to know your opinions on selling houses part time to stack commissions with a full time salary day job. Of course there is more to my story, so let me give you a short background on my situation.

Soon, I am graduating from a university with Bachelor's degrees in both Finance and Economics. I am an inspiring real estate investor and extremely oriented around real estate. Last summer, I worked for a real estate brokerage's admin team, compiling paperwork for home sales, calling leads and setting appointments for brokers, etc.

As a result, the brokerage wants me to come back and work as a broker full time in June. However, I need a reliable & consistent income stream initially to fund the investment properties I intend to purchase asap. Therefore, I have come across the thought of taking classes to obtain my RE license, while working in financial lending, and eventually working part time as a RE broker while maintaining a full time job.

My questions

• Do any of you work a full time job and as a RE broker part time? If yes, what kind of job? Do you love it/hate it?
• Anyone work both on the financing side as a mortgage loan officer, and on the sales side as a RE broker?
  • Perks of working on all sides of RE transactions vs specializing in one?
• As an inspiring RE investor, with degrees in Finance & Economics, how would you capitalize on potential earnings with careers in the RE industry?

I am so torn between the different career paths available to obtain capital for my RE investing out of college. I would greatly appreciate any thoughts on the topic from professionals within the RE & Financial industries. 

Thank you for your time!

Hello BP! 

I am from the Greater Seattle/Tacoma area in WA and am looking to purchase a 4-Plex property by the end of this coming summer (August-Sept.)! It will be my first property purchase and I intend to househack the 4-plex, while taking advantage of an FHA owner occupant loan w/ 3.5% down.

My Questions:

• I have heard of "First-time homebuyer seminars" that are home-buying classes where after they can help provide "downpayment assistance" up to some amount (I believe 4%). Can I take advantage of both FHA owner-occupant (3.5% down) AND receive downpayment assistance from attending a seminar??
• In hopes of finding a property for around $300,000. How much in capital would you make sure to have set aside for this investment purchase? I am aware of all the fixed costs (comissions, closing costs, etc.) that come along with purchasing a property. However, I have not yet purchased and am unaware of how much these costs can amount to as I am looking to generalize a target goal for saving over from now until Sept.-Aug.
• Purchasing Foreclosed/Short-Sale Properties- As I have checked out foreclosure/shortsale listings. I often see "Cash offers/buyers" only and am left with this question. Are Foreclosed/Short-Sale properties possible to obtain if financing with an FHA owner-occupant mortgage loan??
• As I have expressed my interest towards investing in multi-family rentals, I have several trustworthy colleagues who agreed they would be interested in teaming up on investments. However, I wouldn't necessarily want to reduce my cash flows by 50% from taking on a partner in a 4-Plex deal. Therefore: What are some of the best (most profitable) methods in regards to teaming up with a friend for financing a property?

Thank you for taking time to read through my situation and questions! I appreciate all feedback and am open to any suggestions you may have!

Sincerely, AW

@Axel Ragnarsson Thanks for the advice, I will be sure to keep an eye out for a four unit when the time comes! I have a question for you, how did you become a part time real estate agent while in college? Did you get an internship with a company? Are you independent or with a company? I am interested in finding an internship related to the real estate industry to gain some actual field experience.

Hey there!

I am currently a college student in Washington state, and am extremely interested in investing in real estate right after graduation. As of right now, I believe that a small multifamily home will be a great stepping stone into my investing career and hopefully allow me to eliminate my rent expense. From there, I would plan on saving the money I would be wasting on rent, and allow it to build up for any operating expenses, and eventually another property to reside in as a permanent residence. 

As of right now, I am a junior and have about a year and a half before graduating. Yet, I know I can start preparing for this venture now.

My Question to you is what would you suggest to a young ambitious college student eager to invest out of college?

For now, my plans are to: Continue adding into my savings account to accumulate enough for a down payment, acquire a credit card to establish a line of credit (card suggestions?), and further educating myself in multifamily homes & responsibilities.

I would appreciate any suggestions of other things I can do towards putting myself in a great position for investing in real estate immediately after college! 

Thank you for your time,

-Andrew

I am currently a double-major student at Central Washington University. I am studying towards degrees in Finance and Managerial Economics. Looking to establish a plan to begin investing in real estate immediately after graduation. So far, I believe starting with a small multifamily home and working up from there will be the best stepping stone into my investing career.