All Forum Posts by: Ronald P.

@Jeffrey Masessa

If you don't like it you can never succeed at it. You can't decide not to go to college and choose real estate because you can "get rich quick." Many fail to underestimate the time and effort you really need to put in into building connections, marketing, generating leeds, and working through the rough and with the law. That being said, I do not know your side and you probably may like it. There is a whole lot to learn and especially at your age with (probably) no experience yet in the real world. Take this advice into consideration as I am around your age.

@Jaafar Mirlohi

And if I do become a broker what are the advantages?

@Jaafar Mirlohi

But all my deals must go through my brokerage when I'm an agent, it can't be alone. I don't know how it is for assignment contracts.

I am currently working on my license as people have told me that it would help me in my real estate investing career. Apparently without the license in the state of Michigan I'm limited to selling 5 homes or less. If I start doing wholesaling I will probably get in trouble because they say "I'm marketing other people's homes" without a license. So to do wholesaling I will have to become an agent because my broker holds my license after passing the state exam. How can I park my license and not join a brokerage? (In the state of Michigan)

@Siobhan Kelly-Roberts That way works too, but how do you trust that the owners even know the condition of their own house well? Getting it under contract requires a purchase price, right? So what if the repairs are more than you expected?

@Alex K.

Sounds good, I would love to have someone guide me along for the first times, I'd possibly even give the deal away just for the guidance.

@Cassi Justiz

So you are saying that I find the ARV from the comps and let the investors find out the rehab. If I get it under contract I will need to have a purchase price to give to the seller.

Hello,

I am taking my pre licensing real estate class and we are on the topic of estate. My brain is having a hard time wrapping around what exactly are estates and what are they even used for and who uses them?

How would you give examples of using estates? Like the fee simple estate, isn't that just basically becoming the owner of the property? I know this is probably a stupid question, but I am trying to really understand this. I appreciate any advice given from you.

@Greg Dickerson

I see, I understand the basics of wholesaling already and will be attending some events and I'm in the process of obtaining my license. Right now I'm just stuck in the details, of estimating the costs and all the contracts. I will try to find a mentor or maybe a group who will guide me along, I have a list source pulled, but it's currently sitting not doing anything.

Hey all,

I have yet to get my first deal under contract, but the course I'm learning from just estimates the rehab costs with $25 sq/ft. and calculates the ARV with the comps. Is it dangerous if I do not physically drive there and view the house? I do not know anything about rehab costs, but I'm reading J Scott's book about it now.

I just need to get in there and get some experience because that's how I learn the best.

Thanks for the advice.