All Forum Posts by: Account Closed

@Ryan Dossey the timing had nothing to due with the courses rather my schedule. I work full time and partake in REI. Since signing up I purchased and renovated a fourplex as well as got married so those took up some of my time

@Ryan Dossey I am up in Washington so the requirements are different. I actually signed up for classes back in January and am just now getting to the exam.

The actual license is issued by the state and then you "hang" the license with a managing broker (real estate firm). A broker/salesperson (terms vary depending on state) can't operate by him/herself, they must be under a managing broker (requires 3 years experience to be managing broker in WA). Hope this helps.

@Kate Kedenburg 

Ahhhh, good old Tac town! I would guess that if you were to eliminate all non-converted properties your properties to choose from would drop by 70% and your cap rates would be cut in half.

I invest up the road in Everett where the same is true. My current portfolio consists of 2 duplexes, a triplex and a fourplex all built as single family homes. They all were built pre-1915 and built solid. Being a second generation REI I have worked on these types of homes all of my life. Typically they are built sturdier than newer homes slapped up during housing booms. As far as repairs and Capex go, depending on the property, we allocate 7-10% of rent for each (14-20% total).

These properties can be cash cows or money pits depending on purchase price and/or defered maintainence.

@Vonetta Booker 

My advice would be to realize that an investment property isn't the same as a primary residence and you will likely make offers on numerous properties before closing a contract. We put in offers on at least 6-8 renatls before we ever even recieved a counteroffer. Then there is the negotiating phase where another two fell out of contract. We finally closed on our first investment property 7-8 months after we made our first offer.

Now, less than a year after our first investment property closed, we are under contract on our fourth.

@Dev Horn 

yes, realestateexpress.com. Sorry, I was abbreviating...

@Ryan Dossey 

I'm using REexpress.com right now. I finished my courses and have my test in less than two weeks. I have been involved in REI for a couple years and own 5 properties so the material isn't that difficult, just a lot of memorizing definitions. REexpress was the cheapest I could find and I have zero complaints. Good luck!

@Ryan Swan 

FYI-I am sending you a PM to inquire about your iframe solution. Thanks!

@Marcus Nielson 

Tacoma, WA (30min south of Seattle) is the best bet as far as pure cashflow and proximity to Seattle. I invest in Everett (30min north of Seattle) for numerous reasons but Tacoma has always looked very attractive from a pure numbers standpoint.

@Casey Stratton 

I love the mulifamiles, especially fourplexes. It takes just as much effort to buy a SFH or duplex with only 1/4 - 1/2 the cashflow (oversimplified of course) and only slightly more effort to manage a fourplex vs duplex. You will have to put up 25% down on 2-4plexes on your first 4 properties and then 30% down on properties 5-10.

Good luck and keep us up to date on your venture.

@Ryan Swan 

Thanks for the tips! I currently use the redirect and am building zero rep...not cool in a business where all you have is your rep. I will have to look into the iframe you speak of. Thanks again.