All Forum Posts by: Account Closed

Thanks both! 

@Matt Overbee is the link below the home study that you used? 

http://shop.illinoisrealtor.org/catalog/pre-license/broker-option-1-75-hour-pre-license-topics-home-study

This is what I was leaning towards and then combining that with the 15 hour education that is often offered in a Saturday/Sunday format. 

IAR doesn't have much info available before you purchase this, would you say this actually is 75 hours worth of material to study? I'm trying to gauge how many weeks I would need to give myself to complete this portion.  

Hi Everyone, 

I've been enjoying the forums and podcasts, though haven't come across any specifics to my situation below:

I live in the Chicagoland area and interested in getting licensed as an agent. I'm planning to continue adding buy-and-hold property as well as helping friends/family on a part-time basis. I'd like to transition into a full time agent after a year or so of part-time work. 

While working full time, I'm trying to identify the best program or method for completing the 90 hour classroom portion. Does anyone have experience with the 75 hour textbook format?

Appreciate any other feedback people have on study material or the best way to complete this given a full work schedule. 

Thanks 

Thanks all, sounds like I need to do some further research on seller-financing. As Doug mentioned, there are probably a few issues wrapped into my question but the biggest limiting factor now is having three traditional mortgages that will limit ability for another. 

Long story short, how can I create a mutually beneficial partnership with friends who have cash ready to invest?

I'm willing to provide the brains, time, labor, etc. of searching for an investment property and managing the tenants but lacking the cash. 

Enter, a "wealthy" friend who trusts my judgment and work ethic to invest with. 

I've created one such partnership in which I've essentially taken a side-loan from the partner for my share of the downpayment. From my half of the cash-flow I have paid him back. 

However, in this scenario we are each liable for the outstanding mortgage from the bank and as such, I've bumped against my credit limit with the bank. 

Is my best option to structure a similar deal but look for non-traditional financing (i.e. seller-financing)? 

Thanks for the Insight!