All Forum Posts by: Holly Baldwin

I am looking for a licensed Realtor (licensed in Alabama) to work with in the Birmingham or Montgomery, Alabama areas.  I'm interested in purchasing an investment property, either multi-family or single family, within the next six months there. Any replies would be helpful.

Thanks!

Holly

Thank You @Ruth Jones! I appreciate your help so much! I will give him a call as well.

Thank you @David P.!  I appreciate it so very much.  I don't need weekly lawn service, but more of a rehab on the desert landscaping.  I am sure most companies do both.  I will check my messages and give them a call to see if they work in that area. Thanks again!

Hello BiggerPockets community!

Do any of you in the west valley of Phoenix have a landscaping company that they would recommend to do some work on my rental property?

Thanks so very much!

@Quintin Mortensen

Welcome! Congrats on getting closer to obtaining your Utah sales license! What school did you go through? I did online school through Stringham Schools and really enjoyed it. Good luck on your state licensing exam! Most everyone I talk to passed it the first time. I'm sure you will too!

@Lee Busby

After talking with a CPA, you lived in it for at least two years so that is good. You moved away in 2012 so you have three years from that time to sell without the 15% capital gains tax. But you do have to recapture the depreciation you have taken each year so you will just be taxed on that portion. The exact dollar amount will depend on how much depreciation you took and your CPA will need to plug those numbers in and give you that final tax dollar amount.

So if you decide to sell, you need to sell before summer of 2015 to escape the 15% capital gains tax! As far as how the "taxable income amounts" apply, definitely consult a CPA to get the nitty gritties. If you don't have one, I would be happy to give you the name and number of mine.

Hello @Lee Busby

If I understand the math correctly, you are putting $286 per month into your pocket after all expenses including property management?

My first piece of advice is have a real estate agent do a comparative market analysis (CMA) for you....and maybe even do up a seller's net sheet. Many agents offer to do the CMA for free and should show you the net sheet as part of their listing presentation. You need to know what you will most likely net after the sale closes (don't forget agent commissions and escrow fees). You say $25k to $40k.....that is a huge spread.....nail down the number so you can make a more educated decision.

Secondly, if you truly will net closer to the $40k, I say sell. My advice to you is to always have your own financial house in order first. Make sure you have 6 to 8 months worth of expenses saved in emergency fund in place in case of family emergencies. Make sure your Roth IRAs are being maxed out each year. If your company offers a 401k match then make sure you are contributing at least up to the match. Make sure you have enough life insurance on both you and your spouse. Cover yourself first and if you do, you will be financially sound and better able to do investments!

@Maria Kazak

Another thing that hasn't been mentioned yet is to market yourself to others on your team, i.e. mortgage lenders, escrow servicers (title), home inspectors, etc. These are the people you need in your circles anyway. Interact with them and get your face out there in the community. Be visible and professional.

Cheers!

@Bill Mitchell

Hi! I am a part-time agent and I also have another small part-time job as well as being a stay-at-home mom. It is doable, but the hardest part about it is juggling schedules and finding time to generate leads. And as an agent, you are basically in the "lead-generation" business. No leads, no pay. So Bryan L. isn't kidding when he says "Be ready to work 7 days a week." A new real estate sales license does not directly translate into deals closed and being paid. It was pretty frustrating in the beginning........

@Porter Rappleye

Hi! I am a real estate agent in your area so I thought I would let you know some of my thoughts as I read your question.

I currently work as an agent part-time because I still have a young daughter who is not in school yet. I work at night and on weekends. It is definitely doable, yet I find that it takes me twice as long to get leads and such because I am part-time. That, in turn, makes it so I am not making as much money as I could be if I were full-time. Thankfully, my husband is the bread-winner in our family, so I am able to be part-time and not worry about how much I make.

One thing I want to caution you on is that a real estate license does not guarantee that you will have work. In the beginning, it takes hours and hours and hours of lead generation work just to get your first deal. As an agent, you are in the "lead-generation" business mostly. If you are the main source of income for your family, I highly suggest some regular-paying side jobs in the beginning to go along with being an agent.

One more thing....when I was choosing a brokerage to go with, it seemed like they all wanted me to sign with them. You will have your pick. Brokerages get lists of recent graduates and they use those lists to start advertising their brokerages to you. They start coming out of the woodwork! That is why you end up more as the interviewor.....they all want you, but you don't necessarily want all of them. There will be only a few that will fit your needs and your personality most.