All Forum Posts by: Tal B.

Hi,

I need to take the law portion of the DC Real Estate Exam in order to get my license. II'm already licensed in NY).

As I understand it is 30 questions. I assume it is much less rigorous than the general national portion. However, I have no idea how to study and what to focus on. 

I'd really appreciate some guidance from those of you who took it!

Right now, I found this official regulation text. However, I hope there is a more manageable/concise way to prepare.  

http://www.asisvcs.com/publications/pdf/660909.pdf

Thank you in advance:)

Tal

Thank you! @Frank Gallinelli 

Hi All,

I am an investor from Washington DC. I was thinking about working with Bird Dogs here. Having someone search for properties and give me leads. I was wondering if anyone who has experience in doing that can let me know how the process goes. Do they just give you the name and number of the owner or do they bring a signed contract and then assign it to you? What is the accepted rate? Is there any compensation other for leads that end up in closing?

Thanks!

Tal

1. Hi all,
2. 
   I was wondering if someone can explain in clear and simple language how is a Cap Rate different from IRR.
3. I understand Cap Rate (NOI/Asset) and kinda understand IRR.
4. Correct me if I'm wrong: It is when the NPV becomes zero. i.e. above it NPV is negative. Thus the higher the IRR the better. It needs to be higher than my cost of capital. However, is it by definition always higher than the cap rate?
5. 
   Can they sometime be the same? Is it different in that IRR relates to multiple future cash flows while cap rate is a fixed rate in time?
   When would you analyze an asset with IRR and when with a Cap Rate? 
6. Perhaps @Frank Gallinelli would like to comment. My questions rose after reading his great book "What Every Real Estate Investor Needs to Know About Cash Flow..."
7. Thank you in advance!!
8. Tal

Hi everyone,

I am considering to become a real estate agent/broker in Washington DC. Does anyone know if DC exempts members of a state bar (i.e. lawyers) from taking all the exams? I know its like that in NY.

Thanks!

Tal

Thank you @Michael Jones 

Hi All,

I am a newbie investor. I got my RE license in New York but I am looking into doing some investments in Washington DC. Do you know how can I get access to the DC MLS (I believe it is called MRIS). Do I have to be licensed in DC as well? Is there a fast track if I am licensed in a different state?

I would still be using a local DC broker to buy and sell properties.I just want access to MRIS in order to search for investments.

Hope someone can help,

Thanks!

Tal

Hi @Rashad Dove 

Thank you. I am focused on DC NW and NE. 

By the way, a realtor told me that there is a law in DC tha prevents banks from foreclosing on homeowners who are behind on their mortgage. Do you know anything about that? Same for @Tony McCray , @David Taylor  and @Johnson Ejalu 

From your DC experience, what is a good way to buy distressed properties here? Do you go through the MLS, Short Sales, direct marketing? etc

Thanks!

Tal

Thanks! @Johnson Ejalu

Hi @Tony McCray and @David Taylor!

Pleasure to e-meet. We are 3 friends who will be collaborating. I intend to come to DC at least once a week. It's not that bad... 3.5 hour ride from Brooklyn. One of us lives in DC so that helps. Otherwise I wouldn't be considering it. Brooklyn is on fire and I can't afford flipping here, nor do I think that there are many opportunities here. I haven't been looking hard here though.

David, I will check the group you mentioned. thanks. 

Cheers!

Tal