All Forum Posts by: Chris Puglisi

Thank you @Upen Patel.  Unfortunately that is the answer I was expected to get.  

Has anyone bought a property where they had to displace one of the tenants in order to move into a unit?  Both tenants want to stay and one has a kid.  As much as I like the house I really would have a difficult time asking one of the tenants to leave. 

Hello, 

I am looking to make my first purchase and I found a duplex in a great location. Both units are currently rented but in the listing it said possible third unit. The possible third unit would be in the basement which has windows and two walk out doors. My question is, is it possible to qualify for an FHA mortgage as an owner occupant if I am living the third unit of a home that is only listed as a duplex? I am in my mid 20s and do not need anything fancy and do not mind living in the basement. It would be much nicer than any apartment I would get for the same price. The numbers even work out if I was going to move into one of the two units that are currently occupied, but honestly it would break my heart to buy a home and have to displace one of the families that lives there. I have been looking for a multi family home for a while and this is the first one that really caught my interest.

I hope I explained this well enough but please let me know if there are any other details you need to know in order to help me with my problem.

Thank you 

Chris

Thank you Laura.  That is the biggest reason I am interested in the job.  The company that owns the building is very large and they like to hire from within.

Hey Jennifer, The property is opening next month so none of the apartments are rented out yet which creates a great opportunity

Good Evening Bigger Pockets, 

I have been looking to get out of the fitness industry and into the real estate industry for about a year now.  The question I have is what is the average commission paid to a leasing agent.  The complex I would be working for is 240 units and rents are anywhere from 1800-3600 a month.  I have searched in online but get such a wide rage of numbers.  

Seeing how I am not to familiar with the industry I want to make sure the offer is fair and not under what the industry average is. 

Wasnt sure what forum to put it in but hope this forum is alright.

Thank you

Chris 

I never really thought about working as an agent at this point.  Always planned to get my license down the road to help grow my business.  

I have looked into a couple leasing agent jobs which might be where I have to start.  

Does anyone have experience or did they start out on the banking side of real estate? Maybe with a mortgage broker or a bank?

Good afternoon Bigger Pockets members, 

I am interested in finding a job that will help me learn the real estate industry as well as help me save up so I could start real estate investing and build a career.  Just to give a little background about me, I have a finance degree but have been working as a manager in the fitness industry.  I have been in this industry for a while and I am ready to move on.  I am looking to find a full time, or even part time, job in the real estate industry so that I can learn more about how the industry runs.  I have been sending a lot of resumes out, mostly to property manager and  assistant property manager jobs.  I figure that a property manager position will give me the experience I am looking for so that when I start buying my own properties I am more knowledgeable and prepared.   The problem I am running into is that most of these positions require 2-5 years of real estate experience.  My management in fitness has taught me excellent customer service and sales skills and I think these would be very useful in the real estate industry.  

What other types of positions do you think I should apply to in order to learn and grow in the industry?

Thank you in advanced

Chris  

Hey guys, 

Thank you so much for all the quick responses.  I made the phone call today to submit an offer and unfortunately I waited to long and someone came in and took the deal paying asking price.  Which now makes me more confident that it is a good deal because my offer was under the asking price.  

Lesson learned, trust yourself and don't hesitate when a deal comes up.  Still have 11 1/2 months to reach my goal.  

I have been reading and learning over the past year and my goal for 2015 is to make my purchase.  This past week I found a deal that I am really excited about.  A motivated seller for a home that needs mostly cosmetic work.  I have looked over the numbers multiple times and looked at comps in the area but there weren't many that are similar to the property I am looking at.  the numbers seem to work and I have a large margin of error.  But I am having trouble pulling the trigger.  How did you guys work up the courage to make that first purchase and take that risk?  I think part of the reason I am concerned is that the numbers even when expenses are doubled still leave room to make money.  It almost seems to good to be true.  I don't want my first purchase to be a bust because I have been saving for a few years to make my first deal.  

Just looking for a little motivation. 

Thank you 

Chris 

I am looking to make my first purchase within the next 6 months. This is going to be my first real estate purchase. Has anyone taken advantage of of first time buyer loans such as FHA loans maybe a 203k or something? My thought is to buy a property, looking at condos (because of my budget) but maybe a house if the price is right, fix it up while I am living in it for the year then sell it or rent it out at that point. My thought is that if I could sell it without a profit but I can make enough to cover my holding and renovations costs then I would have had free housing for a year which allows me to save up more for my next deal. Or if selling is not an option, I could rent it out.

Just curious if anyone has done anything like this before and if not what is your opinion on this strategy.  

Thank you

Chris 

Thanks for all the help.  Looks like I have a lot more research to do.