All Forum Posts by: Account Closed

Also how do you guys study the market? Ive basically been looking on Zillow and seeing which companies have the most listings and for what price. Then I look up that office and look at the agents and see how many homes they have sold recently. 

I know someone mentioned researching turnover in an area. How do you find statistics or numbers on that?

Im still very much a greenhorn. I ordered some books and im trying to watch videos. Its a lot to take in.

thanks

Could you guys explain what “paying for leads” means? 

I don’t have re license yet so label me a noob 

I’m thinking on starting a career as a real estate agent 

My question is should I consider the house market at all for where I start out? For instance one office there are only houses selling for under 200k. However another office readily sells houses 750k+. Should I consider this at all? 

Also the office that sells the higher end homes has a killer agent who id love to mentor. She sells 20+ homes a year of 500k or more. however if I worked at that office I’d have to compete in that region with her. My question is should I worry about the price of what I’m selling or instead just learn the ropes now and worry about that later? AND should I try to start where there are really successful agents like her I can be around or is that not a good idea? They might not even talk to me. Thanks 

How important is profit margin? What I mean is....is bigger always better or does it have to do with profit after upkeep as well. lets say you own a 500k a year gross building and its 400k a year for upkeep so you are only making 100k a year before taxes. Whereas you could own a bunch of small properties adding up to only 300k but they only have 160k worth of upkeep. You would make 140k a year with the second option before taxes. wouldn't the 2nd option be a better buy? This is just hypothetical ofcourse and I know there are other factors involved but lets just say all things are equal in this instance.

So what I'm really asking is... if you had the choice between say a 50 unit building or a 25 unit building but the 25 showed to have a bigger profit margin wouldn't the latter be a better buy?

Hope I made it clear what I am asking. Thanks

Thanks for all the replies guys.

How do you go about finding a mentor? I don't know anyone really into real estate.

I am 24 years old and am looking to make a good long term investment that will make me able to retire early and possibly turn this into my main source of income someday. I already have my own residence paid off so any extra income will be reinvested or put aside for emergency costs.

With what I said above I like the idea of trying to put down 250k and get a big loan and acquire more properties, with the ability to pay it all off by 40 years old or hopefully before. That being opposed to just buying 2 properties at 100k each and let them pay me back slowly.

I guess I'm just curious as what is generally more profitable, multi unit buildings or 100k+ single family homes? That keeping all things equal.

Or is that what makes someone a real estate investor? the ability to make that call in each situation?

We have a budget of 250,000.

My question is, is it better to have more properties worth less each, or less properties worth more each. Example would be I could buy 2 properties worth 100k each cash, or buy 10 properties worth 20k each cash.. which one is more profitiable? or is it all relative to your area etc...

These would be properties we are renting out, not flipping.

Also, we have little to no credit. If we bought 500k worth of properties and put down 250k or 300k do you think we could get loans?

I plan on doing lots of research and learning before I do anything, and have just ordered some books. But this is just a starting point for me with this question.

Thanks.