All Forum Posts by: Stacey Manley

Hello,

I have a question regarding my GA real estate salesperson license. I received my salesperson license in January of 2015. The license went inactive and lapsed for not meeting CE Requirements in June of 2015. The original renewal date for the license was 01/31/2019. I still have access to the state licensing portal, which is saying I can reinstate my license by paying $375. 

 I want to know: 

-Am I allowed to retake the state exam and apply it to my licensure like an original applicant? 

-Since my original lapse reason was for continuing education, would I have to fulfill that requirement along with paying the associated fees? 

-ULTIMATELY, I would rather retake the state exam, then jump into CE courses, as it would prove cheaper than paying the current fees. I also want to make sure I'm well versed in appropriate RE knowledge as I once was. However, I'm somewhat confused about whether I would have to still pay the $375 regardless of my approach. Please advise, and thanks in advance for your help! 

 Stacey M. 

Georgia, USA

Hello  Jerryll,

I think the first step in your investment plan should be to identify your niche. What type of investment properties do you feel the most comfortable putting your money into? If I was in your position, I would start by looking into multi-family properties. There are lending options that would allow you to live in one of the units while renting out the remaining units.  By starting this way, you can get approved for a mortgage loan that wouldn't necessarily require 20+% down (commercial investment loans) and still have potential to bring great return.

1.Start by researching the properties available in your area. 

2, Choose a property that falls within your niche (single family, multi-family, land lots, etc. )

3. Research which types of financing are available for the property and whether or not you qualify. 

4. Select a financing option in which your're comfortable and work with the listing agent (if applicable) to answer all questions you may have about the property. 

Once you have compiled all pertinent information on the properties in which you're interested, choose the best investment option for your situation. Considering you make pretty good money at your current job, I can't foresee any issues you would have on the financing side. Depending on where you're looking, you can find rental properties that you could buy with what you're planning to save each month!

I hope this helps, and let me know if you have any other questions.

-Stace  

That's fantastic! I'm a GA real estate agent, and I would love to work with you to assist in achieving your goals! I'm available anytime, and my contact information is listed below. Thanks! 

Hello everyone! I've received my GA salesperson license and I'm currently working under  Century 21 Town & Country of Albany, GA. I'm looking to work with investors and sellers who are ready to do some deals! I can be reached anytime at the information listed below. Thanks!

The only information I found in any of my study materials were related to representing clients in a real estate transaction. I'm planning on using a standard referral contract as sufficient documentation. My intentions are to contact the owner and say "Sir/Ma'am, I see you have a home listed for rent. I know someone who is looking to rent a home in the very near future, and your property matches the prospective tenant's request. I am requesting XX% of gross rent (one year) in exchange for the tenant's information. Is this the correct approach? Thanks for the help! 

Hello everyone! I"m having a little trouble finding this information in GA REC legislation. I recently passed my real estate exam for GA, but I have not found an agency I would like to work with yet. A friend of mine is looking to rent a home. Am I allowed legally to contact the homeowner and attempt to negotiate a finder's fee, considering I'm not under contract to represent the prospective tenant? I've read that it varies from state to state. Any information is much appreciated! 

Thanks, 

Stacey 

BP Family,

I'm getting closer to closing on my first investment property! I have ran into an issue that I could use some help understanding.

The property I'm planning on purchasing is in my hometown, a very small and relatively close-knit community. The estate has three owners, and I have accepted their counter offer. There's just one thing: apparently there is a tenant in the property who has been living rent free for 8 years. His grandfather was the owner of the property.

What is the proper way to address this issue upon closing?

Thanks in advance!

Bill,

Thanks for the information. Just to give you a little more insight, the property is a duplex and I'm using a VA Loan to finance the property. At this point, the banker is trying to gather information for the underwriting process (what he told me, anyway). He told me about the minimum, but since I'm using a VA Loan and I plan on living in one part of the property, I was told I could secure a loan.

Hello BP Family! First off, thanks for all the information and assistance you provide for people like me who have more questions than answers. I've found the property in which I want to invest. I've been pre-approved for the asking price of the property ($24,900), and the mortgage banker at Quicken Loans has generated the documents based on that price. However, I do not plan on purchasing it for that price.

Should I be signing these loan documents for a number that may change, or should I negotiate a price that gets accepted by the seller and then sign the documents? Thanks in advance!

Stacey

@Darrell Shepherd and @Giovanni Isaksen thank you both so much for the timely and in depth responses. Based on the demographic map posted, I'm in the >5% area (Southeast Georgia). Based on the population data, the area seems to be at a very stable state, with growth and unemployment considered. There does not appear to be a surplus of empty houses in the area either. I will definitely take all this information into consideration before making any decisions. Again, thanks so much!