All Forum Posts by: Julian Zamora

Thanks for the info,
No I don't live n PR do you? The properties are in the north. I do have an agent I know personally but she's only in the area at certain times of the year.
Section 8 would be better than nothing. I'm more interested in an ABB type deal but will work with what cash flows. Both muti units and single family intrigue me.

If you don't live in puerto rico its not a good idea to invest. It's not like other markets where all info is online and everything is super fast and easy.

0 Votes

San Juan, Puerto Rico

Quote from @Erik Estrada:

Quote from @Julian Zamora:

Quote from @Erik Estrada:

I would recommend looking into a crash course to help prepare for the exam. In CA I took a crash course with Sharon Butler and I passed first try with an 86%. I also treated studying like a full-time job. I took a couple of weeks off from my former job to really focus and prepare for the exam.

Iv'e been thinking of purchasing this after completing my hours.

Affinity NMLS Exam Prep Crash Course

Does Sharon Butler still offer a crash course?

Thank you.

Yes it's here https://sharon-butler.mylearnworlds.com/courses

May want to check if there is a difference in the GA test

Thank you

0 Votes

Atlanta, Georgia

Quote from @Chris Seveney:

Quote from @Julian Zamora:

Hello, my name is Julian. I am a licensed realtor based in Atlanta, Georgia, and I am currently working on obtaining my mortgage origination license. I am 14 hours into the 20-hour online course offered by "RealEstateU." I've been informed that completing the course alone may not be sufficient to pass the exam, so I’m seeking advice on how to prepare effectively once I complete it.

Currently, my only other resources include a YouTube video, five practice exams, and a textbook.

If you have any additional suggestions—whether online or in-person, paid or free—that could help me effectively prepare for the exam, I would greatly appreciate them. Thank you!!

If you can find practice tests, that is my recommendation - that is what I did after taking the required time component and did not have any issues passing the test.

Thank you

0 Votes

Atlanta, Georgia

Quote from @Erik Estrada:

Iv'e been thinking of purchasing this after completing my hours.

Affinity NMLS Exam Prep Crash Course

Does Sharon Butler still offer a crash course?

Thank you.

0 Votes

Atlanta, Georgia

Thank you

0 Votes

Chicago, Illinois

Currently, my only other resources include a YouTube video, five practice exams, and a textbook.

If you have any additional suggestions—whether online or in-person, paid or free—that could help me effectively prepare for the exam, I would greatly appreciate them. Thank you!!

0 Votes

Atlanta, Georgia

Quote from @Kamal Martin:

HI Guys,

Does anyone know about investing in multi family units in Puerto Rico? Where to start, choosing an agent, DSCRL alternatives or similar programs, etc.

Thanks

Kamal

Do you live in Puerto Rico?

The recent earthquakes destroyed many multi-family complexes and will continue doing so. I would go against investing in them. Maybe concrete single-family 1-4 units depending on the price point and cash flow.

Also there is no real MLS in Puerto Rico you need to find an agent for each area you want to look at. And the laws and regulations here are very different, not very strict like the states.

Prices are high and rents are low over here. A majority of people who rent homes here have 100% equity in them so any rent will cash flow. And financing from what I've heard is very difficult to get. However demand is very high, especially for section 8 which also doesn't pay very well because government funding is one of the lowest for Puerto Rico. And the hardest part of all this is finding sufficient labor to rehab/manage the property.

1 Vote

San Juan, Puerto Rico

Quote from @Jay Hinrichs:

Quote from @Julian Zamora:

Quote from @Jay Hinrichs:

Quote from @Julian Zamora:

Thank you for the insight.

I'm located in GA.

Could you at least tell me where to get started? And what requirements would be?

Thank you.

just talk to any mortgage company and tell them you want to come work for them they will tell you what you need. Its somewhat like a RE license vis a vi a RE broker license
you need to start as an MLO ( mortgage loan officers) Before you can became a Mortgage Banker as stated above you need to show experience. then you take the state test and the federal test to get your NMLS registration..

Many mortgage shops do NOT allow their loan officers to also be RE agents on the same transaction to much of a conflict of interest.

Thank you.

So I shouldn't call mortgage brokerages, I should call mortgage companies? Like banks?

Pretty much my first step should be work as a loan officer and then the rest will come to me? My overall goal is to become a mortgage broker as I like the idea of having all lenders as an option and working for my self.

I really appreciate the help!

the opposite call mortgage companies and apply for a job.

Thank You

0 Votes

Atlanta, Georgia

Quote from @Preston Dean:

HI @Julian Zamora

Congrats on your RE license!

Just like getting your RE license you'll have to complete a specific amount of hours. I'm fairly certain you have to be licensed for a specific number of years before you can be mortgage broker. I would suggest starting as a mortgage loan originator aka MLO. You can probably just Google how many pre-licensing hours and education you need for your state in Georgia but I bet its around 20-30!

Cheers from Fort Worth

Thank you!!

0 Votes

Atlanta, Georgia

Quote from @Toby Fellows:

Quote from @Lydia S.:

@Toby Fellows

You are correct, you need to ‘hang’ your license under a broker in order to practice real estate, and most brokerages require you to become a member of the National Association of Realtors as well.

While you are preparing and taking your courses, contact several brokers and interview them to find out who might be a good fit.
There are likely some that have a lot of investors.
Find out what they offer as far as education and support, what their fees/splits are and what their expectations might be.

Remember, you will need a certain amount of continuing education hours, and you will want a Brokerage that has the support you need to help you through your contracts and answer questions. If you’re lucky, you will find one that has a lot of Realtor/investors to learn from.

Ask around and good luck!

Thanks For the Advice @lydia & @Ray Hage, thatsh helpful. ive Just started the online training and about 3hrs into the 75 hrs so Wish me luck! If you have any recommendations for brokers in the Atlanta area please let me know.Thanks

Physical in person classes is much easier. But if you can do it go for it!

0 Votes

Atlanta, Georgia

All Forum Posts by: Julian Zamora

Julian Zamora has started 4 posts and replied 19 times.

Post: Multi Family Units in Puerto rico

Post: How do I pass the NMLS SAFE Mortgage Loan Originator Test?

Post: How do I pass the NMLS SAFE Mortgage Loan Originator Test?

Post: How do I pass the NMLS SAFE Mortgage Loan Originator Test?

Post: Study Material for Illinois Mortgage Lending License Exam

Post: How do I pass the NMLS SAFE Mortgage Loan Originator Test?

Post: Multi Family Units in Puerto rico

Post: How do I become a mortgage broker?

Post: How do I become a mortgage broker?

Post: Do I have to register with a broker if I want to get my real estate license?