All Forum Posts by: Kevin K.

Unsure what forum to post this to but its a beginner question nonetheless.

I've been looking for about 4 months now for a job with a property management company.  Full disclosure, I would like to learn the ropes for awhile before I venture out to create my own PM business. Thus far, I haven't had much luck with landing a position. I'm currently finishing up renovating a property to sell, but that's about all the experience I have as far as real estate goes.

Might anyone in the business have some good advice for me for what to include on a resume that an employer would look for? I'm working as a chemist now, but the parallels aren't terribly apparent and seem to be stretching sometimes.

Thanks for any and all help.

@Christian Hansen @Nate Estelle @Chris Parrish

Hi guys, came across this thread searching for some similar answers.  Question being, say you don't currently work for a PM, but want to start a PM business.  Here in Illinois that requires a RE license, however when you obtain the license, don't you need brokerage sponsorship to use your license? What brokerage would sponsor you to allow you to run a business unaffiliated with the brokerage? Am I missing something here?

@Blake Messina In pursuit of a real estate license, how does that work in terms of brokerage sponsorship? Do you just have to pay the dues without actually being an agent? Are most brokerages open to this sort of thing?

Hi all,

I'm looking to get a job with a property management company.  I've begun applying to some local companies lately and noticed that some of them prefer the candidate obtain their RE license x days after hire if they have not already.  My understanding is that once you get your broker's license, you'll need sponsored supervision from a brokerage until you get a managing broker's license, so until then all activity you do will be the responsibility of the brokerage.  Is it likely that the property management companies just have their own licenses that you would work under? Or is it that the management companies are actually seeking candidates who might already have their managing license?

Best,

Kevin

To investors in Illinois, have any of you been able to put 20% down on a property? I ask because each bank I'm working with is requiring 25% at minimum and I'd be more comfortable at the lower percentage. 

@Mark Ainley Thanks Mark

I know someone that have just undergone a on a 3-flat in an increasing value area in Chicago.  2 of the units are already rented out, and the 3rd is owner occupied.  Their plan is to live in the garden unit, and renovate the two other units.   Current rent is 850/unit and after renovation are looking to have rents at 1450/unit.  There shouldn't be any legal issues as far as forcing the families out to renovate the property, right?  Their leases expire in March and will be able to live there until the lease expires of course.

Hi BP,

I have a lengthy question regarding an estate. My grandfather passed away and the house is to be split between my mom and uncle 50/50.  My uncle wants to sell the house, my mom wants to keep it so she'd like to buy him out of his half.  Is it required to go through a closing process with title insurance? Or is there a means where the deed can be signed over in some way. I have an attorney telling me I'd need to go through the closing process and of course recommending title insurance, and I have a title company telling me that my uncle could just deed the property to my mom without needing to go through closing or the need for title insurance.  The property is still in probate if that makes a difference.

Thanks all for your help

Kevin

Hello again BP,

I'm seeking some advice or perspective on various jobs in the real estate world.  I want to be involved in the real estate world and accrue money for future investments by exploring different options that are available to me.

I have skills in web development and photography, and I'm currently trying to piece together a real estate / architectural photography business.

I'm also considering working for a property management company for experience as well, but finding it difficult to break into that arena based on lack of experience / work history in management.  If you work in this area, how did you get involved with it? Any advice or tips?

I've considered realtor but I don't think it's for me. 

I want this industry to be my life.  I'm interested in so many aspects about it and I just got my first rental property rehab underway. 

Does anyone else have any considerations, advice, tips, paths that I haven't considered?

Sorry for the long post, but I greatly appreciate everyone that spent their time to read it.

Thanks.

Quick question guys,

Is it standard practice to have the buyer purchase lender's title insurance? I'm buying a HUD condo and the title company is telling me that I'm to pay for the lender's title insurance as well my own title insurance and I'm not sure how that works. If I don't have the title as the owner, I'm paying insurance on it for..?? The lender has the title.. so why do I pay for both? Please help.

Thanks

Kevin