All Forum Posts by: Account Closed

Thank you, everyone, for your responses :)

Hey everyone, I'm about to take my real estate licensing test and I'm starting to look into what it would take to be successful once I am licensed. I'm wondering if real estate agents in Connecticut are able to have their own websites, or if they can only operate under their broker's website. I checked the law book, but all it says is that the salesperson can't advertise properties as being in their own name and that Internet advertising of any kind has to include the broker that the agent is affiliated with. I couldn't find anything more specific than that.

I understand that the courses aren't going to help me with investing. That's not why I want to take the classes. (I mean, ultimately it would likely be better for me to have my license while investing, but I'm not doing it for training in investing) I want to take the classes to become a realtor. 

And, no offense meant to any of you, but I didn't really get an answer to either of my questions: whether it's worth being trained by a brokerage; and, if it is worth going through them, how to write my resume and cover letter since my job experience hasn't been in line with a sales or marketing job. 

For many years, I've wanted to become an agent, but I've never really had the opportunity to follow through with that desire. Originally, I started trying to get a license in California because I lived there, but the class I was in for Principles and Practices ended up being the worst possible class ever because the teacher was completely useless (he literally spent 99% of the time talking about how great it was to be a broker and how he's a broker in 3 states and how most of us would fail at being a real estate professional). So, I went back to focusing on my career as a nanny, which I've done for 11 years. This last summer, the family for whom I worked moved from CT to upstate New York. After 7 months of not being able to secure anything long term that has enough hours (I've gotten a few babysitting gigs here and there, and I work very part time as an assistant at a telecom brokerage agency), I've decided to pursue real estate again. 

I looked online for classes but all of the places I can find that aren't associated with brokerages cost an arm and a leg and don't have any openings within the next few months. I did, however, find some brokerages that offer the necessary training for licenses if you work for them. 

So my questions are:

1. Is it worth being trained by a brokerage or is that a situation I should avoid at all costs?

2. If it is worth being trained by a brokerage, how do I write my cover letter and resume in such a way as to make me look like a useful candidate without lying?

Originally posted by @Michael Noto:

@Account Closed this is something your agent and/or inspector should be able to guide you through pretty easily. Do you have an agent? Did you have an inspection contingency in your contract?

 I'm not under contract, I haven't even placed an offer yet because I'm attempting to determine if it's worth the effort of even placing an offer. 

I have been looking at buying a home to flip in Hamden County, CT. The bank told me that there is a private well and septic system, and that there may or may not be issues with them that could cost an upwards of $30k to fix. Today, while looking at the field card, I noticed that the city's records show the house is connected to to public water and sewer system. The bank claims its records of the private well and septic system came from the city, but I don't even see a mention of there being a well or septic system on the property. Who should I talk to about confirming which set of information is correct, or should I just assume the field card is correct?

Originally posted by @Trevon Peracca:

At the end of the day the agent just wants to close the deal. They will not care which party benefits more from the transaction if you use her as a dual agent. They will more time "Talking sense" into you instead of fighting for you.

Source: Used a dual agent before and fired her for that reason.

 That's what I expected, as well, but this person was adamant that because the listing agent would get the full commission, instead of half of it, that he or she would be more willing to convince the sellers to accept whatever offer you put on the table. 

As I was networking earlier this week, I got to talking about some properties I was looking at. The person I was talking to told me to ALWAYS work with the listing agent because it will ensure you get a better deal on the property. However, I was told a few years ago that it's illegal for listing agents to also be the buyer's agent. Can you work with the listing agent? If so, is it really in your best interest? And how do you go about following through with that?

Originally posted by @Travis Lloyd:

I'm assuming by "southwest connecticut" you mean down in fairfield county? But 300-350 arv? So you're talking Trumbull, Danbury, or perhaps Monroe or Bethel? We flip primarily here in Fairfield county, and I can tell you people like their AC. I always take out legacy systems and put in ductwork and high efficiency direct vent lp/gas setup with AC. Its about 20k. I've probably looked at this house already (not many REO in the county I don't visit) but that price point is below my usual - so I'm not competition (I promise!). Feel free to shoot me a private message if you'd like to discuss. I have a lot of resources down in this area that could help if your guys don't want to come down from east hartford.

 The house is near Oxford. The homes on the market and recently sold in the area are either old and dated or new construction. New construction is going for $500k-800k, and the older homes are $150k-250k, which is why I'm wary to guess higher than $300-350k at the moment. 

I do have a question for everyone here: I stumbled across a wood burning furnace for a forced air system. I've known some people in Vermont who use them and love them (especially with how much they end up saving a year), but don't know how people here would react to them. Has anyone here used them in flips?

Originally posted by @George Paiva:

Is there an attic and a basement? Whats the ARV your looking to chase?

 There are two attics (The addition has a roof that runs perpendicular to the original, and for whatever reason they did not tie the two spaces together. Tomorrow I'm going to the city to see if they pulled permits on the addition because, based on what I've seen of it, there's a high possibility the addition wasn't permitted.) and a short basement (it's about 5-5.5 ft under the main house and 6'10" under the addition). 

My realtor is doing some digging into the comparables; but, I think (based on what I've seen in the area), $300-350k is probably the most realistic ARV, since it's an older home in an area with a lot of new construction.