All Forum Posts by: Jonathan Ghrist

I'm wrapping up the process of getting my real estate license and I'm looking to compile a list of pointed questions I ought to be asking potential brokerages. 

What should I expect in the interview process?

What things should I look for and/or look out for when interviewing as a new agent?

Any other insights are welcomed and appreciated...

Thank you so much Kristen Haynes , half of what you mentioned I had never even heard of.. Incredibly useful information!

In order to even pull info from the MLS, I'll have to wait until I get my license anyway.. That being said, don't I need to be with a broker before I get that access, or no?

Thanks guys, super helpful information.

What does the process look like after you get your real estate license? 

Is there a traditional application process? 

Is there an interview process? 

What's the best way to determine what brokerage firm I should pursue?

Are there ranking sites available to determine highest sales/most sales? (I've tried poking around, but have found that information to be difficult to come by.)

I remember listening to a podcast episode where the guest was talking about putting together a mock deal to have a package to be able to show to a potential lender as a representation of his intentions on a flip deal. I'm wondering if anyone remembers the episode number for what I'm talking about? If anyone has done the same thing or something similar, would you be able to share it as a templet?

How much more or less risky is that? What are some of the pros and cons to that?

@Mike Sattem

With the personal line of credit - is it irrelevant to the lender that I'm using it to purchase a property as well as pay for rehab costs? 

Also, that being said, it sounds like you utilized that for holding a property.. would that route be an option and potentially work for me on a flip as well? Seems like instead of the second refinance at a year, that could be substituted for simply selling the property outright for profit as soon as the project is done, correct? 

All that being said, I could likely get a conventional loan as well, I just don't know what my best bet is at this point.

@Stephanie Medellin, she did ask that I provide some of that information, my problem is that A) I just moved and changed jobs and B) aside from the move, don't actually have two years worth of income history. 

@Mike Sattem, the reason why I went the portfolio lender route off the bat was based on what I read in J. Scott's book on flipping houses. At this point now though, I feel a little stuck and I may need to just keep exploring all my options. As I mentioned to Stephanie, I don't have a track record going back far enough for the first bank (they wanted 2 years history, while a second bank wanted 6mo. which in my case would be more feasible). In addition to that, my job is a relatively low income job. One thing I do have going for me is a solid credit score of about 733.  I don't really know or have anyone I could turn to for private money and have yet to look into hard money. I know interest rates there can be significantly higher as well.