All Forum Posts by: Ryan P. Kotschedoff

@Joey Cornelio definitely "rich dad poor Dad" if you haven't read it yet and also Donald Trumps "the art of the deal" are both fantastic books that can get you motivated and dedicated to real estate.

@Stephanie Choi When it comes to finding your first brokerage I recommend finding a brokerage that has a temporary training course or someone that you can shadow in the beginning. This is important because you don't want to join a brokerage and not have any help. Also I find that smaller brokerages tend to be better due to a closer relationship with the company allowing better internship in the beginning to get you started. Just call all the local brokerages and ask questions to see what they have to offer and then evaluate from there. Having a team that will teach you and support you in the early stages is very important.

Personally flipping mobile homes isn't always the greatest idea due to the fact that its really hard to make a profit and if you do make a profit, it will be really low equity which isn't worth your time. Also the people moving into mobile homes aren't always looking for the nicest mobile home in the park, they want the cheapest. So my overall thoughts is you can make a profit but just a very small one. I think Mobile homes can work if you think of it as a numbers game and do a lot of them, but that will take a lot of time and money. So basically its possible but just not really worth it unless you can do multiple at a time.

Originally posted by @Eric Adobo:

Originally posted by @Ryan P. Kotschedoff:

Originally posted by @Eric Adobo:

People to do mundane tasks are called He-ataries it She-ataries.

You actually have a person who is bringing you on as an Intern? 

 I have talked to a few brokerages and they said to talk to some of the agents to see if they need help. Most of them said I could probably help one of them out.

 I think they were trying to be polite. Behind your back they telling agents no way no how. 

I can see a broker getting interns from a college.  Can't see getting one off the streets. 

Possible if you have relative or family friend willing to take you on. 

 I already have connections through family and friends to help me get with some brokerages, and I think some agents would be more than happy to have someone do tedious work for them with no cost involved. Just some basic training.

Originally posted by @Sasha Mohammed:

@Ryan P. Kotschedoff Good for you, man! Starting early :)

I started out around 22, working for free for my cousin who was a Loan Officer. He had me walking around to Real Estate offices handing out chocolate bars and talking loans, trying to get some referrals. NOTHING came out of it at first. But actually, looking back, I learned a TON. 

You'll find plenty of places willing to bring you on as a free intern if they're busy enough, and it sounds like you have the tenacity for this business if you're 15 and already on it. They'll have you making coffee runs and organizing paperwork, possibly setting up open houses or doing some marketing. If you have any interest in the loan side of things, you could apply somewhere as a Loan Processor (without any licensing) and get a feel for everything that goes on on the back-end of the sale. You'll see the RE business inside and out and have a good understanding of how things actually work besides the open house cookies and glitz and glam of the paychecks, and surprisingly, that helps more on the RE tests than most of the classes/studying (although all of that is really important too). 

Most of this business is commission only, so get used to working for free and busting your butt. But it's a ton of fun. I wish you the absolute best of luck!

 Thank you for the response!

Originally posted by @Eric Adobo:

People to do mundane tasks are called He-ataries it She-ataries.

You actually have a person who is bringing you on as an Intern? 

 I have talked to a few brokerages and they said to talk to some of the agents to see if they need help. Most of them said I could probably help one of them out.

Hi BP,

I am currently 15 years old and turning 16 in about a month. I plan to be an intern at a brokerage to get the most experience I can as early as possible. I have been studying real estate for a little over a year now and I feel like I can provide some good assistance to an agent or broker like doing the tedious paperwork or just the little things that will free up the the agent or brokers time, allowing them to do more deals. But at the same time it will give me good experience. MY QUESTION IS, what will the agents/brokers expect out of me and what will they most likely have me do? I want to know this so I can better prepare myself to give the brokerage the best assistance I can. I presume that most of you are either agents or brokers so what would you have me do if I was your intern? Thanks for your time.

Also I know I cant sign contracts due to my age, but I can do many other things that is usually a waste of time to agents or brokers. I just don't know what to expect and what they will have me do. 

Thanks

@Jim Welch turn it into a rental property

You are definitely in the right place! If you want to learn about the investment market in Henderson Nevada just search up local forums in your area and their should be plenty on info! This is a great place to learn because I am fairly new and I have learned a lot so far.  

Hi BP,

I am 16 years old at the moment and I plan on getting into the real estate Agent/Investor industry once I am of age to do so. I take it most of you are either an agent or an investor right now. My question is, if you could go back to 16 years old what would you have done to make yourself more successful as an investor or agent today? Would you have studied something different or wish you didn't make certain mistakes?  I am just curious so I have a greater chance of success when the time comes. Thank you for your time.