All Forum Posts by: Raylicia Y.

Unfortunately, I don't think so. Real estate fees are pretty expensive. Which is why I chose to wait to get my license until I had a few properties under my belt. Keep saving up, because I don't believe any real estate company pays them for you.

I am going through the same thing Brian Tran After reading many blogs and forum posts on this topic, I chose to wait since I plan on doing flips and BRRRR properties. On one hand, you have access to the MLS and you save a bit of money, which is a great advantage when searching for deals! On the other hand I have read that realtor fees are expensive. When selling your properties, you still have to get things approved by a broker. In the beginning it may not seem like it is worth it. I personally chose to wait! I don't have $5k a year to waste at the moment. I am still trying to get my first deal. It also depends on what you plan to do. If your interest is in wholesaling (from what I have researched) I would suggest you get your license. If not, I don't think it is necessary when you are just starting out.

Love this flip!! I'm not surprised that even after the hassle with your original GC, you fell in love with flipping. With these results I would too!! Michelle Hart when exactly during the renovation process did you and your husband decide it wasn't right for you guys? Good luck with selling the property!

Thank you both for your responses! Ryan Cameron Quick question, why did it take a year? Did they want to wait until the house was fixed up? John-Delfin Skovira Thank you so much for this thread full of information! I am going to be up all night reading this!! I have been searching through these forums looking for some info, I guess I should have stopped searching for Upset Sales (I wasn't finding anything)

My goal is to rent out at least 2 homes in the upcoming year. I have been saving money and doing a lot of research through Bigger Pockets for some time now. It wasn't until just recently where I learned about Sheriff Sales and Upset Sales in my area. The Upset sale runs annually every September and after talking to my mothers landlord, surprisingly the majority of them attend these auctions! The homes can be dirt cheap ranging from less $1k to an average of $8k (the maximum I have seen is around $30k). You have to do your own title searches, etc. and you are unable to get an inspection before purchasing the home. The homes are old and not in the best condition. The amount of homes on this list are extensive and they have many homes in areas that I am very familiar with. After researching the BRRRR method (something that I would love to do in the future) and wanting to eventually build a portfolio. Would these Auctions be the best path for a newbie? I'm aware that the title search must be done correctly or I am in for a lot of trouble. Other than the title search, the cost to renovate the home may be pretty expensive as well. It seems as though many landlords do this in my area, but I wanted to get advice from someone who has had experience in this. There aren't many forums discussing Upset or Sheriff Sales. What is your take on this?

Yes! There are some who are more into the holiday spirit than others and love to give gifts to their neighbors. A few people in my neighborhood do it every year.

Family is family, what can you do. It's disappointing not to have their support. I think family members have such a traditional mindset in the way businesses should be ran or how money should be made. REI can be risky and maybe they're concerned. Instead, confide in people who are interested in REI as well. You could even make a few friends through these forums. Your family will come around eventually.

Even though I do not want to finance the property, I also dont have the funds to fully rehab it if it goes extremely wrong. I may just wait to finance a multi-family property when I do find one I can afford.

Thank you all

Yes ive been able to take a peak. But it is a sherriffs sale. No one resides there, as far as I know it just needs cosmetic repairs. I am unsure about things such as the heating, plumbing, electrical etc. Which is why I am asking if it is too risky for my first property.