All Forum Posts by: Susan Ali

Yes, I am planning to buy something for myself first then build up from there. I understand the need to find and build a local team to manage the business or even one single property in the context of long-distance investing but I think such a step will enable me to speak the language.

Luckily, I got a brief replay to my email last night from real estate express:

Each state has their own requirement
New York info: https://www.realestateexpress.com/real-estate-license/new-york-requirements/ exam prep is the best minimum way to go...

Could you elaborate on the costs associated with maintaining the license?

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Hi,

I am not a permanent resident of the USA, yet I would like to be a real estate agent in USA in the near future. I have decided to go with real estate express to take my pre-licensing courses and the following steps. Could you help me out answer any of these questions? I have already contacted real state express via email and over the phone their answers were quite limited:

I have learned that the state of California doesn’t require the agent to be a resident, is it the best option out there for me?

What other states that do not require the agent’s residency? Is there anyway I could get the New York state license as a non-resident?

Regarding your courses, I have some experience in real estate locally (Saudi Arabia) under my built, would their basic course be a good fit in my situation? If not, what course would you recommend that I start with?

Many thanks

Susan

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Hi,

I am reading through Ken McElory’s The ABC of real estate investing and trying to apply the five steps property evaluation method to get the property value and price offer, knowing that:

A. The property valuation or purchasing price (Already set by me evaluator for this particular property) is $298000.

B. I have the NOI of 21523

C. And the Capitalization rate of 7.22%

I already got this Capitalization rate (7.22) by dividing the NOI / Purchasing price or C=B/A.
The suggest equation for the price offer goes like this:
Property value and price offer = NOI / Capitalization rate or

Property value and price offer = B/C

And needless to say, the answer is defiantly A.

I am getting nowhere with changing the order or these variables. So, how can I arrive to the price offer? Am I missing anything? Any alternative method?

Thanks,

Susan

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Originally posted by @Jim K.:

This is all reinforced poured concrete construction, with embedded DWW (drains). You've got to chisel it out, find and fix the leaks, redo the concrete, replaster the gypsum, redo the interior stucco, prime with metal or styrene primer and paint. This is going to take a lot of labor to fix and the DWW will continue to spring leaks. Somebody put in faulty plumbing here on the quick-quick when it was built. I have seen this before in Greece. It's usually tub/shower trap leakage. Do the apartment bathrooms smell like sewer gas when nobody's been using them for a while? That's what happens when cracked tub/shower traps drain out.

It smells just like you described it Jim. I am considering the negotiation of a long-term contract with the government to fix the bathrooms of the entire +1600 appartements of the complex as they all suffer the same issue. Thank you all for your invaluable help.

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Can you provide me with a picture of the tight-fitting door clasps you might suggest installing for this sort of doors?

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Bob B. , Fletcher Hardy and Merritt S. thank you guys for your amazing help. :D

Can anyone advise me regarding the pricing?

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Originally posted by @George W.:

Probably a leak from upstairs working it's way down.

Sounds logical. I will inspect the appartements above from now on! Thanks @George W.

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Originally posted by @Scott Mac:

Is the ceiling concrete or drywall?

I do not know. How to tell the difference?

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Originally posted by @George W.:

Is there another bathroom on the next floor above this bathroom?

Indeed. All these appartement are identical and stacked on top of each other.

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Originally posted by @George W.:

Do these bathrooms have showers? Does the moisture in the air have a way to get out of the bathroom? Exhuast fan? Window?

If there is no way for moisture to escape the air in the bathroom you will always have issues.

Yes they have both and neither the fan nor the window are too small.

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All Forum Posts by: Susan Ali

Susan Ali has started 3 posts and replied 11 times.

Post: Getting real estate agent license as a non-resident

Post: Getting real estate agent license as a non-resident

Post: How to arrive to the offer price using the five steps method?

Post: Bathroom ceiling issue - Dammam Iskan (Housing)

Post: Bathroom ceiling issue - Dammam Iskan (Housing)

Post: Bathroom ceiling issue - Dammam Iskan (Housing)

Post: Bathroom ceiling issue - Dammam Iskan (Housing)

Post: Bathroom ceiling issue - Dammam Iskan (Housing)

Post: Bathroom ceiling issue - Dammam Iskan (Housing)

Post: Bathroom ceiling issue - Dammam Iskan (Housing)