All Forum Posts by: Brandon Johnson

Amazing, @Brie Schmidt! Congrats on all your success.

I'm thankful for @Joshua Dorkin & @Brandon Turner keeping company on long drives to work, and being the start to my real estate education. Planning to someday reach those numbers!

@Account Closed

Abraham Anderson Absolutely amazing. I'm beyond inspired by people such as yourself. More people should be expose to what a drive like your produce at such a young age.

"Article 25 defines a real estate broker as an individual or an entity, who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocation."

If you're "connecting the buyer with the seller" and expecting to be paid for it, that is brokering. Unless what you mean something like posting ads in a publication that you own for an advertisement fee. Otherwise you're brokering without a license.

Sam Burnoski I just did mine through Illinois Realtors online. It was a bit more expensive at just over $500 for 90 hours (75&15). Was structured well and the practice test/quizzes within the material are useful. Passed the licensure exam with no problem.

@Nicole Stoddard Yikes! I would take the advice of @Laura Williams on this one. Try as they might to be objective, appraisals are still subjective to a degree. Sometimes that degree is worth 20k like Laura stated.

What kind of renovations were made to the property?

@Jason Harris Welcome to Bigger Pockets!

Any ideas on how you're going to go about finding owners that are willing to sell their homes subject to?

It depends. Does it contribute to your end goal? Does it put you there faster than other methods? Will you even enjoy what you'll be doing?

Often I think back to starting college and getting the degree I have in nursing. If I knew then what I know now about how RE can liberate you financially, would I still have started? My answer is yes. At an 80% discount? Absolutely yes. My career gives me a good foothold for living comfortably and gives me a steady income statement that I can wave at lenders. One thing I wish I had realized before and during school is that it was still possible to get started. Before starting mt degree I would have worked enough to buy my way into a some kind of house hacking situation which would have allowed my investing experience and pockets to grow a little more while I was attending classes.

@Tereal Wilsonn

Do a good job screening the next tenant and it wont be. Shame that you're having to evict your very first tenant, but pat yourself on the back for having the sense to get them out before they became a long term problem.

@Michelle Chowan

That 5k a year cash flow can become negative very quickly if your foundation truly is bad and isn't factored into your numbers. Refinancing is a good exit strategy, but as a primary residence it's worrisome that you can't make the initial purchase using the the loan that you intend to refinance into. Do you have a plan to make the property fit FHA guidelines? Have you factored in those cost?