All Forum Posts by: Kayde C.

Kayde C. has started 3 posts and replied 11 times.

I purchased my first "investment" SFH a little over a year ago for $435k in a A-list neighborhood in Central Texas. Due to property taxes, insurance, etc my mortgage is $4,200/month. However, according to my comps houses in the area are renting for just about $3,000/month. I'm wondering if I should sell now (It's worth about $100k more than when I purchased it due to inflation and about $80k of renovations) or if I should rent it out for the $3k/month and let it keep appreciating until I'm able to refinance a few years from now.

0 Votes

San Antonio, Texas

Indeed!

Originally posted by @Russell Brazil:

People with tattoos buy houses too

0 Votes

Chicago, Illinois

Of those 147k agents registered in Texas many of them are not actively working as Realtors. Lots of folks get their license and then give up after a couple of months, or never end up trying at all (not to mention TX is an income-tax-free state) so, your calculations are quite a bit off. Also, as mentioned on my post I already own a successful business that runs itself so no, I wont have to worry about “not eating”. I have no debt & several years worth of expenses in savings, so given the fact that I already have a six-figure income I could afford to make the appropriate investments in marketing & mentoring that would help me get a leg up. I am already fully aware of how realtors are paid, I can’t imagine anyone expecting to “get paid the day they sign the agreement with the seller”. So, now that we’ve established that none of the things you mentioned ‘are the real issue’ I’m going to go back to reading the posts re: my question. Have a lovely day.

Originally posted by @Account Closed:

Texas Statewide Q3 2021 (3 months) had 115,272 sales https://www.texasrealestate.co...(Q4 isn't available yet) so in a 3 month period 147,000 agents shared 115,272 sales, that is about 1.27 sales per agent over a 3 month period. If the median price was $310,000 statewide so 1.27 times $310,000 is about $393,700 per agent for a 3 month period.

If commissions were 6%, which may be high, (many agents are charging 5% and 4%), then commissions were about $23,622 which is split with the other agent getting half and you get $11,800 and that is split with your broker so you get $5,900 - that is about $1,966 per month - subtract gas, advertising, and other expenses and you can treat your client to a cup of coffee and have $0.50 left over. Oh, forgot to mention taxes.

Now, keep in mind that the top performers are doing a LOT more than 1.27 per quarter. That reduces the amount being done at the middle and low ends and by newbies. It is said that it is wise to have 6 months income in the bank before going full time. Also, you don't get a check the day you sign an agreement with a seller, It can take a month or two or longer to go through the process before you get a check.

Most agents aren't eating.

I'd worry more about that.

0 Votes

Chicago, Illinois

Absolute best response on here. Thank you.

1 Vote

Chicago, Illinois

I've been fortunate enough to have found success owning my own business for the last 4 years. It pretty much runs itself at this point and I only have to put in less than 15 hours a week into it. In my quest to find ways to diversify my income I stumbled upon BiggerPockets in 2020 and have been in analysis paralysis ever since. 2 months ago I moved to San Antonio where I'd like to get into REI. With all my free time I decided I'd like to try being a realtor as well. My problem is that I have very visible Hand Tattoos (nothing offensive just your typical flowers & hearts). I've heard of Realtors who have full-sleeves, but those tend to usually end at the wrist. Mine are on my hands and 2 are on my fingers. Since moving into town I have noticed some stares of disapproval, specifically aimed at my hands, and I have been asked about them 3x in the 2 months I've been here. NGL, it's rather discouraging, and I'm wondering if this might get in the way of me working as a Realtor here and if I should just look into some other type of side career in the Real Estate world instead. For example, contracting, etc? Would love some advice from folks already in the industry. Thanks in advance.

4 Votes

Chicago, Illinois

Originally posted by @Luke Henderson:

@Abel Curiel Thank you Abel, I will reach out

Hey, I'm in SoCal, too. Do you think it's still possible to Househack here, or do you think it's too late to find that type of deal?

0 Votes

Originally posted by @Theresa Harris:

I would start by thinking about places where you have family, spent time growing up or living and you know the area.

Unfortunately, I only have family in the 2 most expensive markets (LA & NYC) so I will be having to do this solo and in a place where I don't know anyone. Thank you for your comment though Theresa!

1 Vote

Originally posted by @Scott Sklare:

Hi Kay,

I live and invest in south-central Wisconsin. It is an absolute goldmine for investors. I am a licensed broker, investor, property manager, contractor all rolled into one. Feel free to give me a call if you want to discuss it. 608-438-6371, Scott

Thank you Scott! I will be reaching out.

2 Votes

Well of course I learn about this 2 hours after its done. Looking forward to attending the next meetup!

1 Vote

Thank you for this thread! Very helpful indeed.

0 Votes

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All Forum Posts by: Kayde C.

Kayde C. has started 3 posts and replied 11 times.

Post: New investor in need of serious advice please

Post: Will my Hand Tattoos get in the way of me being a realtor?

Post: Will my Hand Tattoos get in the way of me being a realtor?

Post: Will my Hand Tattoos get in the way of me being a realtor?

Post: Will my Hand Tattoos get in the way of me being a realtor?

Post: Out of state Multifamily

Post: New Girl Looking to Invest, but where?!

Post: New Girl Looking to Invest, but where?!

Post: Multifamily and more Investor Meetup- 4sons Brewery HB - COME ALL

Post: J Scott's Starting Out FAQ