All Forum Posts by: Jared McCorkle

 As someone who currently is in College it really depends on what area of real estate you are trying to pursue. If you are trying to be a realtor or a appraiser then you don't need to go to school for that it would be a more efficient use of your time to get your license/certification. If you are trying to be a investor again you don't need to go to school for that, if you feel that you need to take a class, take a Real Estate class at a community college for a couple of hundred of dollars instead of commit to a 4 year university if you are trying to be a investor or something like a realtor/appraiser. 

However, if you want to be something more specialized in the Real Estate industry then a 4 year college might be more beneficial, I am a Accounting Major in College right now and I know people who have graduated and specialized in Taxes for Commercial Real Estate and also have clients who are investors in Residential Real Estate. 

At the end of the day, whichever path you go, you're going to need some form of Education, your going to need to make connections and build relationships either way. Whatever you want to do I would research the Requirements in your state to become that and build from there 

Hello BP I am looking for someone to potentially partner with on a Real Estate Investment Property. 

The reasoning for this is because currently I want to do a deal however, I am running into a lot of hurdles trying to make it happen. I am a Accountant from The Ohio State University taking a few classes finishing up my senior year, while doing so I will be working at Ernst & Young (EY) as a Auditor, I have been working as a Auditor for around the past year while in school however for a different company. 

When it comes to conventional loans for LTR , I have the downpayment and credit score etc, however lenders are reluctant to lend to me because I don't have enough Job history. 

When it comes to Fix-and-Flips, realtors and contractors don't really take me serious as a potential client because it would be my first deal and I get the impression that they don't believe that I will actually buy and initiate the process of rehabbing the property. 

Ive talked to Hard Money Lenders, as well as conventional lenders and they recommend me to partner with someone more experience who has more connections than I do especially for my first deal. 

My question is what should I do should I wait or should I try to find a Partner on these deals, and if I should find a partner where would be the best place to look or would anyone on BP like to partner? 

You would have to run the numbers and evaluate the trade off. If the properties rent for the same amount but the new one will require less maintenance then on a monthly basis that would put more money in your pocket as its less in repairs and CapEx, however if you sell you would have to pay taxes, closing costs for selling and buying the new property so with that is the extra cash flow worth it. I would run the numbers and compare what would be the best option for you.

 The best way to find information about the property and the owner is doing a public records search which you can do via the counties auditor website and conducting a property search, you can also contact other government entities in your counties and ask about information of the property. However, I think the best way is to get in contact with the realtor who put the property up for sale as they are probably working directly with the owner. 

You should be able to get Cards like the Chase Ink Business, and both American Express Blue Business cards as well as a few others. With a new LLC you would have to personally guarantee the line of credit as long as you have above a 700 credit score and everything in the LLC is filed right, you should be approved for it.

Hello, 

Currently I am in the beginning stages of doing my first fix-and-flip with a Hard Money Loan and I am running into an issue with the Hard Money Lender and Realtors in the area. I have a couple of prospect properties I would like to tour and get a better SOW for the Rehab, however because of the still someone hot market we are in realtors are not taking me serious as a potential client and tour the property without a preapproval letter, however the Hard Money Lender will not issue me a Preapproval letter until I get a better estimate of the SOW and come up with a plan on how I am going to do the project which I can't do without looking at the property first with a Realtor. 

Is this typical when it comes to fix-and-flips and how should I approach and solve this situation that I am in?