All Forum Posts by: David Miller

@Lynn McGeein 

Hello Lynn, thanks for the tip.

I was definitely planning on offering discounted services at the start of my career. 

Your post just confirmed what I was planning.

What about desk fees, what can I expect to pay?

Also, I'm going to need to actually learn. How can I go about that?

@John Rogers Thank you for the information. I passed the state exam and got my license.

I do want to eventually be a RE investor via flipping property and also being a landlord for steady income. But for now I just want to focus on learning about RE by being a salesperson.

So I've been focusing on getting my diploma and getting my salesperson license. I passed the exam (So glad that's over) - I don't really know where to go from here. 

Do I just start calling brokers? 

And once I do start shopping for a broker, what should I ask and how should I... be?

 I've never worked for anyone but myself so I've never done interviews and things like that. 

Though I am told in Real Estate the roles are somewhat switched because brokers want as many salespeople as possible. Is this true?

Also, is there any further classes/learning I should get before looking for a broker?

 @Zach Gregor - I suspected it might have been homeowners insurance, but I thought that would have been listed separately, somewhere else. Thought I might have been misunderstanding. I wasn't 100% sure what to write in my notebook, so thank you!

I'm still doing the pre-license course. I'm writing it all down in a big note book to help me memorize it all.

I came across this on Real Estate Express' course.

My question: Why does this list both PMI (Private Mortgage Insurance) AND Insurance? What's the difference?

---------------

Conventional Insured Loans

Unlike the conventional loans listed above, these loans require less than 20% down payment but they also require mortgage insurance which protects the lender (not the home buyer!).

PMI (Private Mortgage Insurance) is charged at the beginning of the loan and may also be part of the monthly payment so the payment becomes PITI, Principle, Interest, Taxes, Insurance and PMI Insurance. The mortgage insurance is purchased from a private company, not the federal government. Both the real estate professional and the buyer should understand that PMI is to protect the lender from default of the buyer, not insure the buyer's life.

Typical payment of Conventional Insured:

• Principal and interest payment $700
• Taxes $150
• Insurance $ 70
• PMI $60
• Total $980 per month

Hey everyone, update here. The Instructor emailed me back. 

Maybe this will come in handy for somebody in the future. Here's what she says it means.

Does anyone know?

Real Estate Express, pre-license 63 hour course, chapter 5, pg 10: "Escrow Accounts Deposited"

The area I can't understand is the bold and underlined.

Please forgive my ignorance, but I can't understand what's being said here. I asked the "instructor" via email earlier today but received no reply.

Please break it down into plain English, preferably using a real life example.

@Kevin PrenticeThanks for such a concise post - I'll keep everything that you've said in mind and try my hardest to apply it all. Believe it or not, my worries aren't about passing the test, I'm pretty sure I'll pass easily. I'm actually worried that once I'm licensed I'll forget some minor rule, law, stipulation, or term, and screw up or get in trouble or something.

 This is what I suspect - That all that other information is only vital/relevant if I plan on using it, but if I'm starting out as a basic salesperson I doubt I'll need to know all of it off the cuff.