All Forum Posts by: Jennifer Umbaugh

I am looking to purchase a 1917 one bedroom bungalow. I need a contractor to assist with repairs, possibly including foundation work. Any suggestions? Thanks in advance.

Thank you for your helpful posts. Much food for thought!  Would welcome input from others. 

Looking for 70% Rule Deals on SFRs in Wilmington NC. MAX deals - 160K including Reno costs.  CASH BUYER

I am trying to decide whether or not it makes sense to spend the time money and effort to obtain and maintain a real estate brokers license. I only plan to flip three or four houses a year. I understand about all the commitments which would be required of me to obtain and then maintain my license. Including but not limited to working under a broker for three years and continuing education classes along with expensive fees. I have a great real estate broker I have already done two deals with. It seems like it may be a waste of time to go through all that is necessary to obtain and maintain your license when your only goal would be having access to the MLS and listing your own property to save some commission. Taking the class will be delaying me from starting my first flip into 2016 for two months. The class is only $399. I would be interested in hearing from anyone who has some thoughts about the importance or lack of importance of having a real estate brokers license to flip houses.

@RussellBrazil this was exactly my thinking. I understand about all the commitments which would be required of me to obtain and then maintain my license. I have a great real estate broker I have already done two deals with. It seems like a waste of time to go through all that is necessary to obtain and maintain your license when your only goal would be having access to the MLS and listing your own property to save some commission. Weighing all that I thought it may make sense to just take the class and not the exam. It now sounds like from the posts that taking the exam is a waste of time. I am retired and have lots of time on my hands. However taking the class will be delaying me from starting my first flip into 2016 for two months. The class is only $399. I would be interested in hearing from anyone who has some thoughts about this issue. Perhaps I will start a new thread to get some more advice as well Thanks to each of you. I sincerely appreciate your input.

thanks to everyone for your advice. My hesitation in moving forward with getting a license was I have no intention of selling real estate for anyone but myself.   I have been told that after passing the examination and obtaining your license you must work under the supervision of another broker for three years.  That seems like a huge time commitment and another waste of time  as I have no intention of acting as a real estate for anyone other than myself. Are there any brokers out there  who are only doing investing who would be willing to have me work the three years under them?  

Hi Sean! Best of luck to you. If you haven't yet found them, there are some good real estate investment groups in town.

I am a newbie to BP. I live in Wilmington and am looking to do 2 to 3 flips next year. Would like to work with wholesalers. I will not be looking for first deal until March but wanted to introduce myself. I am waiting until March because I will be tied up with the Broker Class in January and February. I do not plan on obtaining a license, just want to learn.

Well done!  Congratulations!

Great lessons for those of us starting out. Thank you for sharing!