All Forum Posts by: John Stamos

Which Real Estate Licensing course has the most online video content that I can listen to in my car while driving around? Thank you! 

Hi, I looked into REPS and my spouse meets most of the criterion. My question is the following…

Do the several hours taking a Real Estate Licensing course and exam count towards Real Estate Professional Status? My spouse has more than 500 material participation hours on our properties but will the Real estate licensing course hours help her come closer to the 750 required or those are disqualified hours? I know that hours spent with broker buying/selling after obtaining the license count towards the status but do the hours getting the license count?

Thanks!

Hi, I looked into REPS and my spouse meets most of the criterion. My question is the following…

Do the several hours taking a Real Estate Licensing course and exam count towards Real Estate Professional Status? My spouse has more than 500 material participation hours on our properties but will the Real estate licensing course hours help her come closer to the 750 required or those are disqualified hours? I know that hours spent with broker buying/selling after obtaining the license count towards the status but do the hours getting the license count? 

Thanks! 

I am partnering with someone on a large multifamily deal with 30 units where the deal is being purchased by me at the stage of all engineering and permits completed by seller. We are ready to break ground with horizontal construction today. Needless to say the seller is adding on a large premium on top of the land cost for the permits/engineering etc. This will be significantly reducing our overall profits on the back end.

My question is that I am unsure how to breakdown the percentage equity and needed some advice.

I will be doing 100% of the financing for the entire project (land, engineering, horizontal, vertical, taxes, loan interest costs etc).  I understand it’s risky in these uncertain high interest rate times. I found the deal and brought it to my partner. I plan to remain active throughout the project and help wherever I can. I do not live close to site.

He will be overseeing the horizontal construction using the bids provided by the seller. He will be using his friends construction company to do the vertical construction. He will be finding renters to stabilize the 30 units before we sell the project and exit. He lives only a few hours from the site. 

What is a fair equity percentage breakdown between him and I?  Keeping in mind the current shaky banking times we live in (March 2023). Project likely will be completed in 2 years.

Thank you for your thoughtful responses in helping me pick a fair equity split!

If you were in your 30’s and had a steady cash flow of $200K per year which could be used to buy more real estate- what would your BEST real estate long term strategy be to build generational wealth?

Would you buy a few SFHs every year with 30 yr fixed mortgages (I realize limit can be 10 but assuming can get private loans)? Or would you focus on a large apartment complex buildings? Or invest in self storage facilities? In other words what would be the most ideal thing to do with the $200K being saved every year??

Thanks for any thoughtful advice! I want to be able to look back and say that I’m glad I did the most optimal thing available to me in real estate.

I am looking to buy a condo in Miami as an investment. What features in a condo make it more valuable and a better investment over time? For example someone told me to go for a higher floor in the building if possible because it gives better views and is more desirable. Or high ceilings, water view balcony, closer to beach etc. Some say buy away from the water due to rising water levels. My friend feels higher pedastal unit ceiling (Lower levels with poor balcony view) is more desirable whereas I feel a regular ceiling with a water view balcony is more valuable (higher levels in the building) - what do you guys think is nore valuable between those two? Needed some advice on condo features to seek out when picking between the various condos. Plan will be to rent it 6 months and use it as a second home for 6 months. Looking for a short list of features that make a condo appreciate over time! Thank you!