All Forum Posts by: Linda Osborn

Okay, @Tarek Soliman, that is different. I'll check with my contacts and let you know. What is the ultimate use of the raw land? Do you buy it to build on, then sell with a house on it? Or some other use?

I like Benchmark Mortgage in Cedar Park...but I guess it really depends on what you are looking for. Are you looking for investor loans on rental properties? 

Ask for Sheri McKim or DiAnne Warlick and tell them I sent you.  If neither of those have what you are looking for, PM me and I have a few other options.

Just as a general fyi...right now Austin rents are about 12-18 months behind the market... Housing prices have been continually rising during the past 2-3 years, and rents are only increased in yearly increments...when a lease is up. So I would expect rents to keep rising for some time to come. Good news for investors, not so great news for renters!

I would send them an official "NOTICE OF LANDLORD'S INTENT NOT TO RENEW". This is a TAR from you should be able to get from your realtor. It is the "official giving notice to a tenant" form used in Texas. You want to get it to them before the end of May, though, if you want them out by the end of June.

Welcome to BP Greg! Feel free to reach out if you have any questions. BP is a great place to get started and has a ton of valuable resources! Good luck!

Jessica,

Welcome to BP! I'm not sure about the laws in Iowa, but there is a similar requirement in Texas, so I'll tell you how it works here.

Once you get your RE license in Texas, you are not allowed to work independently as a salesperson, but must choose a RE broker to "hang your license" with. I believe the intent of these types of laws is to keep new real estate licensees from jumping right in and working with the public independently when in reality you really still do not know what you are doing!! ;-) The intent is to have you work with someone who has been in the business longer who can help teach you the ropes and, in theory, keep you out of trouble....especially since real estate does involve quite a bit of money, working with the public, & legal issues.

In Texas, your license is not considered "active" unless you have a broker. And you can't work independently until/unless you have worked 4 years as an active agent (with a broker) and after 4 years you study and get your own broker's license.

What this probably means is that you'll have to find a broker to hang your license with so you can remain "active", but who understands that you will not be acting as a truely active salesperson  (translate: you won't really be making him/her any money to speak of). Some brokers are okay with this. You just have to find one that is...and you should find one that also likes working with investors.

There might be another option. If all you are looking for is MLS access, you might try finding an agent or broker to "help" with CMAs. In Texas, agents are allowed to have "assistants" that we can set up with MLS access for additional fees. If Iowa is set up the same way, you might be able to locate and befriend an agent who would let you have access if you offer to pay the fees, offer to give her/him any non-motivated seller leads you get, offer to help with their CMAs, and/or buy/sell your properties thru him/her, etc. (Again, as long as this is allowed/std practice in Iowa.)

Hope this helps!

-Linda

Renting in Lakeway should be no big deal. We've successfully lease listed several properties there. Feel free to contact me & I'll see what I can do to help.

What monthly amounts are you putting toward repairs, property management, property taxes, insurance, HOA (if applicable), etc.?Will yard maintenance be done by tenants? How much vacancy are you assuming? Will property come with tenants or will you be bringing them in yourself?

Welcome to BP @Justin Koopmans!

I agree with @Russell Brazil, and I think I can provide a slightly different perspective. I began investing far before I became a RE agent. I started out investing part-time, while working full-time in tech. Then I made good money, but did not have very much time. In early 2015, I switched from tech to real estate and went ahead and got my license. I just recently made the choice to step up both traditional real estate buy/sell activities and investor buy/sell activities. The advantages of being an agent are many, including not only the affore mentioned access to the MLS, but also access to training on real estate law, on your state's purchase/sale contracts, and other (often free) training not readily available to the general public. In addition, being an agent can help you build your real estate network, with access to specialists at title companies, mortgage companies, hard money lenders, real estate lawyers, and other real estate professionals. Being an investor, on the other hand, not only helps you to expand your knowledge about the industry, but ultimately opens your eyes to more non-traditional buy/sell methods, which may provide additional income generating / wealth building options.

The only caution I have to getting your license is that, depending on your state, it may open you up to some legal complications. In Texas, for example, agents are required to disclose they(we) are agents (or "real estate professionals") on all real estate transactions, whether or not we are "acting" as an agent in that particular transaction or not.

Hope this helps!

Hi Ryan. Welcome to BP! Lots of great stuff on the site, so keep cruising around!