All Forum Posts by: Account Closed

Hey guys!

     I currently have 11k for an investment property I plan to buy in 6-8 months. I'm currently in a good situation for investing as I recently moved where I no longer pay rent and I'm saving a decent amount of money slowly but surely. I plan to have 15k for a down payment in 6-8 months, give or take 1-2k. So my question is where should I buy? Should I go for a duplex? It will be an out of state purchase as I live in Los Angeles which there is nothing I can afford close to me. I have family that work in real estate in OK where it is cheap, and they can manage it. I do want to have a rental that makes me passive income. Should I invest there? Or should I look at other states? Any and all advice is appreciated. Just trying to prepare ahead of time to make sure I don't make any mistakes, thanks! I figure I can purchase something 60-100k. 

Hey Emily! Well that 15k im talking about is 20% of purchase price which is the down payment most investors need for rentals. But the same people that could buy rather than rent would only need to put 6% down at MOST which is 5k. There's even programs for first time buyers for no money down. And 3% for fha. That's why I don't get why they don't buy. Maybe credit but I wouldn't rent to someone with bad credit.

Hey Emily! Well that 15k im talking about is 20% of purchase price which is the down payment most investors need for rentals. But the same people that could buy rather than rent would only need to put 6% down at MOST which is 5k. There's even programs for first time buyers for no money down. And 3% for fha. That's why I don't get why they don't buy. Maybe credit but I wouldn't rent to someone with bad credit.

Hello everyone!

     I am currently a new real estate agent as well as an aspiring investor. In about 2-3 month I will have about 14-16k to invest in my first property. Now I am going to invest in a price point of about 60-70k for a decent 3 bed 2 bath in Oklahoma. Where I will be able to get a mortgage/taxes/insurance for about 350-500 a month. Rent in the area is anywhere from 800-1200 for the houses I am looking at. Now my question is why in the world would people pay much more in rent when they could buy with only a couple grand down and invest in there own property? I want to invest so badly but I need to learn a lot more first it seems because it's almost to easy. What am I missing?

Hello everyone!

     I am currently a new real estate agent as well as an aspiring investor. In about 2-3 month I will have about 14-16k to invest in my first property. Now I am going to invest in a price point of about 60-70k for a decent 3 bed 2 bath in Oklahoma. Where I will be able to get a mortgage/taxes/insurance for about 350-500 a month. Rent in the area is anywhere from 800-1200 for the houses I am looking at. Now my question is why in the world would people pay much more in rent when they could be with only a couple grand down and invest in there own property? I want to invest so badly but I need to learn a lot more first it seems because it's almost to easy. What am I missing?

I see where you are coming from, the median sales price in my area is 650k so I just am shocked myself at commisions and people are sorta fed up it seems.

Well you are now comparing commissions in a capitalist country vs socialists. I highly doubt commissions are going to be cut in half in this country.  But as a millennial I'm not so sure my generation will put up with such a high cost to sell a house when the Internet does much of the work. Im not sure what the future holds for real estate, and I just wanted proffesionals opinions in the industry. I personally like they way things work and hope this stays a job for an entrepreneur. I don't like the way Redfin operates as it kills motivation for the agent to sell in my opinion. However it seems like my generation is pushing for that sort of structure.

Hey guys, I'm a new licensee and I'm just wondering will real estate agents face the same future as stock brokers or taxi drivers due to technology? I'd love to sell real estate and make a career out of it but with all the internet tools and more and more discount broker apps like Redfin will real estate agents even be around in 10-20 years? I look forward to hearing your responses!