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All Forum Posts by: Ian Price

Ian Price has started 9 posts and replied 54 times.

Post: Introduction

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

@James MacKinnon Welcome!!! I hear you on renting. Sounds like you have plenty to leverage already with contractor skills. I'd suggest looking into FHA loans for first investment/home. Best of luck

Michael, I am not an agent, but will be going to school soon to become full-time and work into flipping. 

3. When considering brokers with different fees, you have to look at how many homes you are going to sell/flip each year. Are you only flipping? Representing other buyers/sellers? How much training to I want from my broker?  Consider the volume deals you'll be doing. 

Personally, I seek a broker that will give me great training and tools first. I am considering a broker that offers that with 70/30 commission split at a $17,000 cap rate. After that, all commission is mine! So I will be encouraged to close many deals.

1. When interviewing brokers, you'll have to ask about working with investors and sub2 deals.

Hope that helps! Good luck!

Post: Indiana agent license School Recommendations?

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

I need some help sorting through RE license schools in Indiana. I would prefer an online class so I can study at my own pace (hopefully faster than physical classroom).  

Suggestions or comments from recently licensed agents in Indiana would be especially helpful. 

Thank you!

Post: Fortune Builders

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

I went to their workshop in Chicago a couple months ago. I went in pretty excited, and they got me interested in RE. With that said, it is a 3-day long sales pitch for their system and coaches, but there plenty of nuggets of info.  It's a ton of hype...

If you have prior RE investment experience, you will probably know over half the stuff they cover. BUT if you don't have the education/experience, it is worth the money. Any specific questions, you can message. 

Post: New young and ambitious couple in Phoenix, AZ

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

Welcome to the BP Community @Ryan Tempel!  Best way to find anything is to use the search bar quite honestly. Just put in some key words. 

I also recommend checking out your local REIA for networking.

Best of luck to you both!

Post: Picking a broker.

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

Hey Nathan, 

I am in very similar shoes. I want to get my license, and have little experience in real estate. I'm trying to completely submerge myself in real estate because it seems to be the right answer for what I want to accomplish. 

I spoke with a KW team leader in Michigan two weeks ago. From what I heard, the training is there, they encourage an "all out" agent model so you hit an earning cap for big commissions, build your own business as an investor of KW. Right now, I am leaning toward them at the moment because they seem innovative and training.  The other broker I spoke to is a successful local investor whom I have decent relationship with already, and I may work with! So, could be tough choice. 

Keep me (and us) updated on how your search goes! Im curious to hear what you find. 

Post: I Want to be a Flipper when I grow up!

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

Hey Scott, 

I too love making diamonds out of coal! Flipping is what I want to do as well. I recommend buying J Scott's book on Estimating Rehab Costs.  You can get a better deal if you buy that and Book on Flipping as a combo here on BP. I did that and have read both. I keep referring to it as I am analyzing deals like you are. 

Ian

Post: First multi, what do you think?

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

@Bonny Lai William and many other BP members are using the calculators under "Tools" tab. BP has made them for us. They are pretty nice! Pro members have unlimited access. 

Post: Interviewing Brokers to be Agent

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

I'm looking into getting my real estate license in Indiana.  I am interviewing a brokerage tomorrow and I want to make sure I am prepared with good questions. 

I graduated college 4 months ago and I started health insurance sales 1 month ago. The company and the people I work with are pretty good to me, but it's an industry that I'm not passionate about like am real estate. As an agent I want the license mainly to lower fees for flipping, transaction education/experience, networking, and mls access, etc. Ultimately, I plan to use a it as tool for starting investments. And of course, I want to make commissions finance flipping SFH and house hack a MFH.

Advice on selecting brokers and questions to interview is appreciated! 

Thanks BP community!

Post: Mapping Tools for Driving for Dollars

Ian PricePosted
  • Michigan City, IN
  • Posts 55
  • Votes 19

David,

This is an awesome article that uses simple techniques with your smartphone/computer. 

It could work really well for mapping out places you have been and documented.