All Forum Posts by: Monica Young

 Thanks! I'm learning a ton on this site.

@Account Closed Thanks. I'm actually reading "The Richest Man in Babylon" right now. I've had "Think and Grow Rich" on my shelf for a long time but haven't read it yet. It's on my list. Thanks for the recommendations. I'm also trying to get through BPs recommended book list. I actually went to a local meetup called RealDealMeetup last weekend. It was great to see so many like-minded people in person & I will certainly be back. I actually met an investor there that's going to help me find my first investment.

That makes perfect sense. Thanks @Christopher Phillips

@Russell Brazil

That's here, but he left it blank. We are looking for a primary residence. I'll talk to him about that.

@Ned Carey

Thanks for your reply. I thought it was a good idea too. I actually started talking to him to pick his brain about REI because he's been doing it so long and he mentors people. When I told him our plans to owner-occupy, he thought he'd be able to help with our first purchase. I'd been getting listings sent to me by another agent, but I hadn't signed any agreements with them. BTW, I like your company name :)

@Russell Brazil

That answers my question. Thanks again.

@Russell Brazil  

Thanks. That was a good explanation of the compensation. There is some language in this agreement that says if I see any signs or advertisements for properties being offered for sale, I will not contact the seller or their agent, but will first contact my broker who will provide information about the property and make arrangements to see it. Does that mean I shouldn't ever look at anything without him?

@Christopher Phillips

Thanks for that explanation. I was wondering if the % could be built into the offer.

Hello BP. My name is Monica & I live in Pikesville MD with my husband in an apartment. I'm a software developer and he's a business analyst at Verizon Wireless. I love what I do at work. My husband doesn't love his job quite as much, but it pays well. I was looking around for a way to enhance our retirement funds & I read a few books on financial freedom. Specifically MONEY, Master the Game by Tony Robins & Rich Dad Poor Dad.  I looked into Rich Dad Poor Dad coaching and after finding out that they charge $4000 for their coaching, I said "no thanks" and went looking for anything I could find online to get started. I found the BP podcast while googling for information. After listening to a few of them and then watching a couple of webcasts, I became a Pro Member just so I would have access to all the past webcasts. The information I've learned from this site is invaluable. My husband and I are in the process of looking for a multi-family home to owner occupy & we're really excited about it.

This is just the beginning. I'm looking forward to getting started and becoming a contributor to these forums as well.

I am just learning about real estate investing, and I recently met someone at a local real estate investor meetup that has been investing in real estate for 9 years. He recently became a real estate agent, and he knows our area well (Baltimore County MD). We talked and decided that he could help us find our first rental property to owner-occupy. He wants me to sign an exclusive buyer representation agreement that contains a clause for a 3% compensation to be paid to him at closing. Is that standard? Is it possible that all or part of that may be paid by the seller? Also, does exclusive mean that I shouldn't look at any properties without him being there after signing this agreement? I will also ask him these questions. I just wanted to come here to see what this community thinks.