All Forum Posts by: Jason Read

Hi BiggerPockets Forum,

I am an up and coming real estate investor, looking to buy a home to house hack in the coming months.  I have yet to get preapproved as I was waiting for a pay increase in which I recently received.  Below are my questions.

• Should I get preapproved by the lender I plan on loaning from?
• Can I play it simple and get approved by rocket mortgage and get right to shopping?
• Is there any curveballs I should be aware of before I start this process?

I have a solid W-2 Job making around $55,000 including incentives and a credit score in the 760-780 range, I have no debt other than subsidized student loans of $12k in which I won't need to pay interest on until 6 months after I am out of college (over a year from now).  The number I expect is in the ballpark of $250,000.  Can someone sanity check that?

That is great information @Tyler Gibson.  I haven't looked into the possibility of referrals before.

Hi Tyler,

Thanks so much for this insight, this is valuable information.  When I'm looking into getting my real estate license, I'm looking in three realms of how it could help me financially.  One could be with representing a seller and making a commission, one could be with saving money in payed out commissions due to representing myself, and one could be with saving time.  My view would be, if my annual fees are $2,000, I would either need to represent the sale of one property making a ~3% commission, or represent myself in the purchase of one property, saving over $2,000 in not having to pay an average of 3% commission.  I believe either of these routes would outweigh the expense.  Am I looking into this the right way?  I'm very open to opinions and I'd love to speak on this topic more.

I'd also like to add that I do not plan on being a one man band, not working with real estate agents because I want to skimp out on paying commissions.  I know that I will need help from an investor friendly real estate agent like yourself for my first few deals, as a license does not bring with it expertise, but I'd like to have the license as a just in case instant where I find something that I can represent myself in.

Thank you,

Jason Read

Thanks for the recommendation @Amber Forkey, I'll make sure I check it out!   

Hi BiggerPockets Community,

While this isn't my first post on the site, this is my member introduction.  I'm a 21 year old resident of Orlando, native to South Florida (Martin County).  I am a Finance student at UCF with an expected graduation date of May 2022.  I have a job as a Financial Analyst with a large corporation that I have held for the last two years, which has taught me some valuable tools of the trade when it comes to running a business.  

I have a high drive and a hunger for success outside of corporate America. When looking into diversifying my income streams, I was always led back to real estate. I began listening to the BiggerPockets podcast everyday on the way to and from work, starting from episode one (I'm approaching episode 30). I've yet to pull the trigger on my first property, and I want to sit back and watch the markets play out after the moratorium ends July 31st before making any moves (I'm not in a rush). I'm also starting my Real Estate licensure class this upcoming week, hoping to become licensed by the end of summer. Not necessarily as a means of income, but for the benefits of the MLS and the ability to represent yourself as a buyer/seller.

I'm looking to establish a network of likeminded individuals that can build off of each other to make our dreams happen.  Agents, Investors, Attorneys, Wholesalers, Etc.  Please reach on BiggerPockets, or on my LinkedIn (as it's currently in my daily routine to check) https://www.linkedin.com/in/ja... .  I want to have a strong foundation and proper knowledge of the industry, so that when I'm ready to pull the trigger I can do so without fault.

Thank you, and I look forward to speaking with everyone,

Jason Read

Hi BiggerPockets forums, newbie here, myself and an associate are looking to make an entrance into our real estate investing journey in the near future.  My associate is bringing substantially more cash to the table, but I have come across on off the market property that may be a good deal.  My question is, what is the standard compensation structure for bringing a deal to the table?  For example, I have $10,000 my partner has $240,000, we buy a house for $250,000 and I have a 4% stake in the deal, so I would receive 4% of the profit.  Should providing the deal change this compensation structure?

Hi BiggerPockets forums, newbie here, myself and an associate are looking to make an entrance into our real estate investing journey in the near future.  My associate is bringing substantially more cash to the table, but I have come across on off the market property that may be a good deal.  My question is, what is the standard compensation structure for bringing a deal to the table?  For example, I have $10,000 my partner has $240,000, we buy a house for $250,000 and I have a 4% stake in the deal, so I would receive 4% of the profit.  Should providing the deal change this compensation structure?