All Forum Posts by: Jordas Reyes

I think a good option is to get licensed and work with a team on the resale side. Second work with a property management company. If I could go back to college I would have gotten my license back then and started getting experience in real estate right away as your trying to. I also think a sales job can be help as well as your always selling a product/service and yourself.

Hey Jonathan! I can understand the frustration he has if his losing money on it. Did he not trust the realtors evaluation? Have you considered getting a second opinion from another realtor? I would definitely get a contractor in asap for a bid. I would also be looking at my holding cost at this point too compared to not getting it on market and paying a commission. Sounds like he will lose $$ regardless but consider it a good lesson. Next house he will be much more educated.

I thought some of you might like to read this short article around best cities to invest on a budget. Anyone disagree with the list and why?

Enjoy..

JACKSONVILLE – July 26, 2016 – It's a good time to be a real estate investor: Median prices on existing homes are expected to climb 6 percent this year, according to a new study by realtor.com and HomeUnion. And those looking to invest in real estate now can find lots of options if they're willing to look past pricey big metro areas.

To find the best budget-friendly places to invest, they looked at single-family homes that cost $232,500 or under – the median price of existing homes nationwide in April, according to the National Association of Realtors® (NAR). The analysis also included other factors, which is why some markets with lower appreciation appear higher on their list.

The top 10 cities for investors on a budget:

1.Jacksonville, Fla.: 3.6%

2.Tampa, Fla.: 4.4%

3.Orlando, Fla.: 3.7%

4.Chicago, Ill.: 4.2%

5.Detroit, Mich.: 3.1%

6.Las Vegas, Nev.: 4.7%

7.Cincinnati, Ohio: 3.4%

8.Phoenix, Ariz.: 4.8%

9.Cleveland, Ohio: 3.4%

10.Minneapolis, Minn.: 3.4%

HomeUnion also identified the following metros as where buyers can see the largest first-year rental returns as a landlord:

1.Cleveland, Ohio: 11.1%

2.Columbia, S.C.: 9.7%

3.Birmingham, Ala.: 8.5%

4.Pittsburgh, Pa.: 8.4%

5.Milwaukee, Wis.: 8.4%

Source: "The Best Cities to Invest in Real Estate on a Budget," realtor.com® (July 25, 2016)

© Copyright 2016 INFORMATION, INC. Bethesda, MD

Welcome Kai Kopsch . Best of luck to you! Closest reia I know of is in fort Myers. Have heard good things but have not made it down myself yet.

Welcome!! and best of luck to you!

Maximum allowable offer? I have not analyzed anything that low but assume the 70% rule won't hurt as a starting point. Cost of repairs don't leave much margin so would need to really know cost to determine offer.

Welcome @Garrett Hicklin.. Good direction from Michael.. I suggest you read everything you can get your hands on! listen to podcast whenever you can and start figuring where you want to start with RE investing (buy/hold, flip, wholesale, etc...). Also start networking in your area. Best of luck.

congrats Jake!! When I joined bigger pockets I saw some of your earlier post and know you have been working towards this! Nice job and best of luck to you. 

I just passed my state test like two weeks ago. Here's what I Have been up to... I met with 5 brokers already. I suggest you make a list of what's most important to you and make sure who you go with can provide that. Been working on website, content, social Media branding, business cards, learning communities in my area, developing business plan, reading books, practicing scripts. I think the most important things we need to get good at fast is cold calling and having specific marketing plan in place (make a budget). As for cost so far I'm under $1,000 but still have much more to go. Everyone's budget is different but I'm close to $5k with all expenses to get started the way I want. Everyone's situation is different though. Wrote this quickly so let me know if can answer something else. Best of luck.

I have made the best connections by just talking to and meeting as many people in the industry as possible. After a little while you will click with the right people and the one you least expected will be all for mentoring you. Best of luck