All Forum Posts by: Dj Samson

@Scott Costello That is definitely a better option. However, like @Adam Powadiuk and @Shaun Reilly mentioned I am reconsidering going the residential agent route. I plan on living in my hometown for the next 2-3 years and then relocating a couple states over. I would hate to spend all of that effort building a network for my agency just to relocate. I'm still going to join my local REIA though, which meets later next month.

I just interviewed at a local commercial real estate firm and they are looking for a Sales Assistant. Basically I would be making an hourly wage while showing leases. Then once I am ready I would go 100% commission. This is a great route because I could earn money while I learn. Unfortunately I am still waiting on an offer. If this offer doesn't prove to be fruitful I may not go down the brokerage path because the ramp up time could be too long and put my investment goals on hold.

@Thomas Morgan, I've reached out to a couple property management companies and submitted my resume. I didn't really apply for a specific position and I'm still waiting to hear back. I also applied to my local bank as a Mortgage Closer and got declined, so I'm starting to think that my degree and marketing background might not be enough to get into the loan department. I'm going to keep looking at other places.

I have not considered a job with appraisals. Would this be a position with my local government? Would it require any licensing/training?

There are a couple "blue chip" companies located in my city that I am going to be applying to as well. I would really prefer to work in RE, but worst case I can build up some capital this way as well.

I wanted to thank everyone for their help. I've got alot of input, this community is pretty awesome. Just to keep you guys updated I've got a little over $1k in savings - my goal is to get to $10k-$20k in order to implement my first flip. I will most likely go the hard money route and my obvious goal is to build capital. And hopefully one day I can go full-time and my dream is to own a large apartment complex.

Scott, thank you for the advice. I've been reaching out to some local brokerages but haven't had the best of luck finding agents who are also investors. I'm going to keep trying.

Dave, I've applied to several local banks since I read your post. I chose local banks because from my research these are most likely where I'll be going for my portfolio loans since I may not qualify for traditional loans in the early going.

I also reached out to a local company that does house flipping. I know there are many investors who flip SFHs in my area who wouldn't want extra overhead, but these guys are partners and seem to do a really good job marketing themselves and probably have a large quantity of deals each year. I think even if they just need a guy to answer phones/analyze deals/or do the dirty work I may take it, because I would be working for people who are doing exactly what I want to do.

Thank you again for the advice.

I am 22 years old and just graduated from college with a degree in Business Administration. My goal in life is to become a full-time real estate investor. I hope to begin flipping single family homes within the next year and start investing in apartment buildings within the next three years. Since I only have $1k in savings, I am looking for a job where I can learn and build some starting capital.

I want to work in a job where I can learn about real estate and investments. I currently live in upstate New York and I am considering getting my real estate license and joining a commercial or residential firm. My biggest hangups are that it takes time to make money and I eventually want to relocate to the coast of Rhode Island and this may be troublesome if I build a network here and have to start over.

Are there any jobs that I can leverage to start my real estate investment company? Is going the commercial/residential agent route the wrong decision?

Thank you.

Elizabeth,

Thank you for the detailed response. Everything you said makes sense. The first thing I'm doing when I'm home is joining my local REI club and I agree that this time period of having "free" rent is a great time to save up funding for future investments.

Your point about becoming a real estate agent seems valid and I've been thinking about it since I read your post. I think I'm going to go ahead and get the license, since after reading this blog post it seems like the $600 investment is worth the future savings on agent commission.

However, I am at a cross roads as far as a job is concerned. I just spent the last five months at a desk job that I completely hated (I know that's nothing compared to what some people have done) but I really don't want to go back to that slave-to-the-grind lifestyle. I'm a pretty optimistic person, but I consistently felt the feeling of waking up and counting the minutes until Friday. I hated living like that.

I thought becoming an Agent would benefit me in a few ways. Obviously I would make some money which would be used for investments, but I also thought I would be able to learn about my local market while earning money which basically kills two birds. I realize being an agent is an office job, but I would be able to get outside and meet people and check out different properties. I'm used to spending all day on the phone from 8 am - 5:30.

On the other hand however, building capital is probably as important (if not more) as learning about my local market. And this is what has me stuck. If I don't become an agent I may choose a different job for the next year or so that is different to my past of working in sales/marketing.

Hello!

My name is Darren and I am from NY. I am 22 years old just graduated college and my goal is to become a full-time real estate investor. My plan is to flip single family homes and eventually purchase large apartment complexes in order to create monthly cash flow.

After college I naively moved to Silicon Valley for a job at a tech startup. I always was intrigued by real estate investments but was intimidated because I never had alot of money needed to invest. I chose online companies as my path and now I am changing ships.

I have spent most of my $6k savings moving to and from Silicon Valley. I am pretty broke, so my plan is to get a job once I move home and save up $600 needed for my real estate license exam. I'm going to become an agent, get a job at a firm and then build some capital. I know being an agent is more difficult than people expect, but even if I have moderate success it will create a huge start for my portfolio (I will be living at home = 100% profit!).

Do you think my plan is viable? And do you recommend any books for beginning investors? I have read alot from Robert Kiyosaki and like I said earlier, I want to do this full-time so I intend on practicing both flipping and buy and hold in order to create equity and cash flow.

PS : If anyone is from Poughkeepsie, NY and would like an extra hand doing anything I would love to connect.

Thank You!!

Hello,

My name is Darren and I am a business student at a college in upstate New York. I’m taking part in a summer business incubator program in Syracuse, NY where students create startup companies. I believe the best businesses begin by solving a problem and I’m interested in building my business around helping real estate investors since this has always been an area of interest for me.

I am trying to determine what problems/inefficiencies real estate investors encounter that I could solve through developing an inexpensive software solution. If the forum moderators are okay with this, and if you have a couple of minutes, answering a couple of my questions below would be a huge help.

I appreciate your assistance,

Darren

Questions:

1.) What is the biggest hassle real estate investors have to deal with?
2.) If you could wave a magic wand and change something about what you do, what would it be?

OK, so I am relativity new to the forum but I've been a little confused about my plan. I'm 17 and I'm going to be going to college this January. I've read alot of good REI books like "Real Estate Riches" and "The Millionaire Real Estate Investor." Right now I have $4,000 in my bank account. I'd like to buy a duplex next summer and rent out the other unit while I work as a bartender/waiter to increase my savings so I can buy another property.

I'll eventually transfer the following January of 2010 to a 4-year school and I'll either sell off the duplex or have a property management company take it over. I hope to be buying real estate whatever four year school I go to, even if I end up going to New York City.

Alot of people ask what you're goals are, but pretty much my biggest goal is that after college (in about four years) I'd like to have enough monthly cash flow to pay for my basic necessities so I can invest in real estate full time. That's my dream but I'm not sure if it's possible. I'd get a job after college if necessary in order to keep investing.

Here are my concerns:

1.) If my parents sign on using their credit with a loan, would $4,000 be enough for a down payment?

2.) How many properties would I have to purchase during college in order to be somewhat financially free (being able to live off of the income) after college?

Thank you for your help! Any advice is appreciated.

Thanks for the help guys! I'll check out those books Jason. The $6k didn't come easy. I saved most of it overtime and by selling a few expensive items that I owned. I am also graduating early from high school in January and I'm trying to do it without a car which is getting tough.

Thanks for the advice!

EDIT: Also, would anyone know where I could find a form like you were talking about with those 20 questions? Thanks again.

I'm a 17 year old High School Senior and I live in the suburbs of New York and I'm interested in investing in real estate. I currently have about $6,000 in my savings account and I plan on using these funds to buy my first property.

I've been reading alot of real estate books and although I'm taking in so much info, I still feel a little confused about analyzing profitable deals. I've been told that a good way to get started before I turn 18 next year is by bird dogging. I understand the basic theory of bird dogging but I don't completely understand what type of information I need to supply the investor when passing along a deal. I also am unsure if a home/apartment owner would give me certain information when I'm not actually interested in buying the property.

As far as actually investing, I plan on buying a duplex when I go to college next spring. I'm a little worried that a Banker/Realtor/Lawyer won't take me seriously because of my age, but my parents said they will sign on a loan because I don't have any credit history.

My major goals are to have a stream of income in college and to be financially free when I leave college.

Does anyone have any advice for me? If you recommend any books that could help me get started I would appreciate it.

Thank you for your help.