All Forum Posts by: Ian Price

If you don't need in-class learning, I highly recommend REAL University online course. One of the cheapest I could find, and I did well enough on the test to past the first time.  Let me know if you have any questions about the process!

Thanks Andrew, that is very insightful. Forgetting or ignoring the tax-earnings, depreciation implications could be a big mistake. This highlights the importance of REI accounting and having an excellent accountant too!

Most of these properties are being bought up quick for all cash.  That seems to be the only way to snag these properties up...

 Calling all single family investors!  

I am curious to find out what your cash-on-cash criteria is? 8%, 10%, 12%, 15% 25%?!

I am an agent in Northwest Indiana and am seeing homes selling for $30,000 - $45,000 in decent shape and neighborhoods in Michigan City and surrounding areas. Most of which are roughly getting at a minimum of 10% COC return all the way up to 20% after expenses, vacancy, and management.

What do you shoot for COC returns...or are there any other important criteria you look for in that number?

Thanks

I have just completed licensing requirements for my state and have interviewed 4 different brokerages - 2 national (Keller Williams & ReMax), 2 local.  Since, I am new it is important for me to have 1. Resources and training   2. Company and office culture  3. Focus on technology.  

My favorite is KW even though there is not yet a big presence in my area.  But I do see an opportunity there for long-term growth.

What was your number one reason for choosing your broker?

Thanks everyone!

Great taste, looks well done!

Appraiser for sure. Congratulations on the purchase @Chetan Naik

Hello @Dario Kerkez Welcome to the community! The content on Biggerpockets is phenomenal. I always recommend podcasts to new members. Look for ones that interest you and listen on the way to work. I haven't gotten even half through the 202 episodes, and I found so much inspiration and advice. Great job to @Joshua Dorkin and @Brandon Turner for turning out high quality content every single week! #GiveThanks

Hi @Adina McCollough Welcome and blog on! BP is so helpful. Listen to all the podcast about wholesaling!

Hi Joe,

My opinion, no. A traditional bank conventional loan will not provide financing for this type of property for mainly one reason.

Because of underwriting standards, typically a bank hires an appraiser for determining current market value. Whatever the appraiser comes back with, the bank's LTV is 80%. So unless you have a great deal, it'll be very difficult to get financing for the rehab and purchase.

Ian

I am curious, what type of job do you hope to get? You should decide how often you can and will build your agent business and is it the best use of your time for your goals. 

Personally, I graduated last May and tried insurance sales, but my true interest is in real estate. I quit and found a job in Real Estate at an appraisal company. I will start school for my license next month. In the meantime, I've interviewed different brokers.  

I want to use my license to 1. Make money on the side too (I have part time job and flexible) 2. MLS access and able to view properties myself 3. Pay myself for flipping not another agent and 4. Understand better the residential market.

I hope this helps