All Forum Posts by: Sean Cutt

Welcome! I'm also new to the game, but you'll definitely see that nearly everybody here will be warm and welcoming.

So everything went well! I start actually getting into the work tomorrow.

The manager was talking a lot about paid work in the future once they see what I can do! I am simply going to be working on appraisal reports and getting my certification on the side.

I just did a little bit of digging and realized they're HQ isn't local so I guess you wouldn't call them a local company. Either way I'm pretty excited to get my feet wet.

Thanks for all of the supportive replies!

I know that directly asking for mentors on here isn't allowed so I decided to just call some local real estate companies near where I live and asked if anyone wanted free labor. It took about 15 calls but someone eventually bit! It was weird how long it took for someone to agree to free labor!

I'm going in this blind but the owner seemed pretty straight-forward and inviting so I feel optimistic. I might be played for a sucker but hey, what else should I be spending my winter break on? I think it could be enlightening either way.

It's an appraisal company and they're called Butler Burgher Group and they're in Costa Mesa. They work primarily in commercial real estate which I wasn't originally interested in but over time I've started to really like the idea.

Any thoughts?

@Upen Patel,

Thanks, this was what I was thinking was going to happen.

Thanks for the reply!

So it won't even increase the amount owed at the end of each month? That's nice to hear.

That was the best title that I could fit within the character limit.

My question might seem loaded, but here it goes: If I take out an FHA for 100,000, I have been told I would have to put down a premium of 1.75% ($1750). I have read that this can be financed in as part of the original loan.

My question is this: If I take out a loan with such a premium and finance it as part of the loan, would it have its own specific interest rate or would it just have the same exact interest rate?

By extension, when any premium is said to be financed as part of the loan does it simply become part of loan with the same interest? Additionally, does it also increase the required down-payment?

Thanks again for all of you helping out the newbies like myself.

Hello everyone, my name is Sean Cutt and I am from Southern California.

I don't have much money in my name just yet and am just looking for creative ways to break into the real estate business.

Right now I'm thinking that I would like to invest in du/tri/four-plexes by taking out an FHA loan. This seems like a tried-and-true method of getting into the business as it opens the doors to owner occupied benefits and doesn't require too much of a down-payment.

I don't have any properties in mind yet and just want to gather as much general info on these kinds of deals before I take my first steps. I also don't have a license yet so I hope that gives you a good idea of how green I am in this.

Thanks in advance and thanks for reading!

I don't mean to cheap out, it's simply a matter of me trying to not waste my time and energy for something that so many people have told me is not necessary. People here on BP seem to feel the exact opposite of those I met before coming here.

This has been great though, it's nice hearing opposing ideas as that's what I came here for!

Also, @Jo-Ann Lapin, I had no idea you were talking about a company specifically called "Real Estate Trainers." I thought you meant that Santa Ana in general had good trainers which felt very broad to me, haha. Well, I'll look into their programs!

Wow you both replied quickly! Thanks for the offer for info @Joe Homs , I might call you once my semester ends!

@Jo-Ann Lapin, do you have any specific recommendations? Or maybe anyway to check how current one class might be?

Thanks everyone!