All Forum Posts by: Ti Jackson

Rikin, Yes in fact I do! There is a REIA in Towson, MD. The club holds frequent meetings daily/monthly. In addition, they carry a meeting every third Thursday of each month for free. It would be a great way for you to meet investors and potentially meet your investor partner (if looking for one lol).

Here is their website

http://www.baltimorereia.com/

Originally posted by @Rikin Patel:

Hey Ti,

Congrats, on obtaining your RE license. Thank you for the warm welcome and I look forward seeing you around the county. Do you know of any REIV networking meeting occurring in Harford County that I can attend?

Thanks,

Rikin

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Hi and nice to meet you! I have recently taken my PSI RE exam! There are few resources out there when it comes to audio and real estate. Yet, to help me pass my exam I went on YouTube. Some pre-licensing teachers video tape their class and post on YouTube for others to watch. Just make sure that you watch videos posted within your state if you watch videos on RE law (as each state has different laws). Also, on the Apple app store, there is an app which you can download for $30 called DEARBORN real estate education. This app gives you many resources such as audio, videos, vocab, matching games and tests. The app covers 22 different chapters such as; leases, financing, taxes and liens, contracts, agency, fair housing, property management and more. This app really helped me due to the fact that i always carry my cell phone with me; so, when im bored I just pulled out my phone and began studying while im at work, or listen to the audio while im driving. Honestly it was pretty helpful. Good luck!

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Hi Rikin, Nice to meet you! I also live in Harford county and I just opbtained my RE license. I hope to see you around town and wish you the best of luck within your RE investing. Stay in touch!

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Lol thanks!! And yes it's awesome to link with someone my age!! Many people on here are older and its kindof hard to connect and get to know how they are investing/ becoming successful in our time today !!! Not 10 years ago lol (times have changed).

Furthermore, many of my family members live in Columbus (westerville) and Dublin and majority of them attend OU. As for me, I moved to MD with my family Bc my dad recieved a job with the government. I am also in college I start my last year this fall coming up at UMBC. I'm going for human resources management! Of course like you, I constantly have the talk with my parents about how I don't don't want to be in debt and how im graduating with a degree that Im not even going to practice. It really makes me angry when I think about the debts lol.

Also, the process of getting my license was pretty easy. Many brokerages throughout my state offer real estate classes. So I called up long and foster and started 2 days later. The cost was 200 total which included tuition, books and fees. My class was from April 6th - may 11th 6pm-10pm. They have weekly classes aswell. But long story short you have to attend the class every day, pass a midterm and final exam with a 75% and lastly pass your psi exam. The psi exam is pretty tricky I failed the first time Bc the wording threw me off. But studied harder and went back and passed the second time. I have affiliated with Keller Williams (they have a great mentor program!!!) 60/40 split and your able to earn 100% commission in the near future. Also, I plan on saving before I actually start investing. I haven't thought about the amount but, I'm sure that if I save for 5years I'll have a ton saved lol. Furthermore, I wish you the best within investing! Stay in touch! As you said we can def learn from eachother!!

Originally posted by @Grant Edwards:

@Ti Jackson

It's awesome to hear from someone my age! Haha I'm excited for your future, I'm sure it's bright. I love your story about you went to go get your license, I might just do that in the near future. I'm about to go into my last year as an undergrad at OSU, and honestly college is kind of a downer on my real estate dreams haha. SO MUCH DEBT! But I love that you have a plan and that you're motivated to succeed, and also that you have an interest in investing; that's hard to find among our peers. So I appreciate that.

I'd love to hear more about your story! Let me know if you're going to college, what the process of getting your realty license was like, how much money you plan to save before getting started, etc. Hopefully we can learn from each other and bounce some ideas back and forth!

By the way, I just finished my first book on real estate investing called The Millionaire Real Estate Investor, and it was GREAT. So I highly recommend that one along with Rich Dad Poor Dad if you're into reading.

Look forward to connecting with you some more, and thanks for the encouragement!

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Hello Grant and welcome!

I am also from Ohio (Mansfield) lol :). But anyways, like you I am also very young 21 and I am seeking to invest in properties as wel (flipping)l. I currently work for a military base and I know for a fact that working here isn't going to give me the education and experience that I need to learn when it comes to investing in real estate. Therefore, I recently went to long and foster, took my pre licensing course, passed my exam and joined Keller Williams realty. Although, many would say that it isn't necessary to receive your license to become an investor; I thought it would help me a ton. I now have access to MRIS and many other sources which I wouldn't have if I hadn't gotten my license and became a realtor. Furthermore, I am able to earn money. When I say money I'm not talking about your typical 2,000 check. I'm speaking about 5,000-10,000 checks depending on what the commission split is and the market price (also how frequently you earn these checks all depends on how much business and sales you produce and when you produce them). Overall the point that I am trying to make is that, the steps that I followed/ am following to become a successful investor is to learn about the business and earn equity. Then, in about 5 years when I have enough money saved in equity and I know enough about the business, that is when I am making my first flip.

This is how I am getting started.

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Thanks Eric, you gave me some great advice!!!

Originally posted by @Eric Thomson:

It depends on the lender. Many of them have different terms. You're probably looking at a 6 month term to payoff the loan, they will typically loan you purchase price plus repairs based on ARV, and interest will be pretty high. Usually you can pay a fee to extend the term if you cannot sell within 6 months. But, you could probably get 125% LTV so you would not have to use any money of your own other than, perhaps, earnest money. You may ask for some lender recommendations from investors in your area and you can see what each of them offer. Another option would be to find a local bank that is willing to offer a portfolio loan, but in my experience it would be difficult to get 100% financing, much less a loan to cover repairs. Or find an investor who is willing to partner with you. Get a written bid from a couple of contractors to verify your repair estimates. You're smart to account for the surprises!

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Eric- Hi and thank you for your post. I have spoken with the agent whom has the listing and she simply stated that no one wants to put in the time to update this home. Its in a great neighborhood where many families with young children live. The only factor is, is that no one has the time to update this house. The comps in the neighborhood are from 200,000-250,000. I think overall id need about 25,000-30,000 to fix the house completely (that includes; updated bathrooms 3,000 each, updated kitchen 9,000, flooring in basement and bedrooms 3,000 and id re-do the deck, which would prop cost about 2,000 + room for surprises). I think that I could make a huge profit on this property. I just need the funds. Also, with a hard money loan, exactly how does that work?

Originally posted by @Eric Thomson:

Hello Ti,

Congratulations on getting your license. Good luck in your RE career!

Financing a deal is usually one of the hardest parts. As long as the numbers work with hard money that may be your best option. My only question would be if it only needs minor work, why has it sat on the market so long? What would this home sell for when you finish? How much would the repairs cost?

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Hello all, I recently obtained my real estates license and will be affiliating with long and foster. within real estate I really would like to get involved with investing and flipping properties. There is a home in my neighborhood that is foreclosed on and has been on the market for about 400 days, the property is now 90,000!!!!! Im so excited because, the property is in great condition... all it needs is a face lift (new flooring, painting, kitchen and bathrooms). BTW this property is 4/3 and over 2000sqf. Long story short. I have invested all of my saved up money into my real estate career. I want to jump on this property as quickly as possible, yet I have no money saved up... I thought about a hard money loan, contacting investors + more. Yet, im unsure how to get started. Any thoughts or ideas? Thanks

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Your post really helped me with my decision. I have come to learn that Keller Williams is helpful in the aspect of mentoring and teaching; although that aspect is great, I will not be able to have a mentor/mentee relationship if I am not bringing clients in to get me through the process. I'm not saying that I want things handed to me, yet as a new agent I think floor duty and having leads would be very helpful. Plus your right, many people seem to go for the larger/most popular brokerage in my area rather than a brokerage that they have never heard of before. Starting with a larger brokerage would be the best option for me! Thank you so much !!!!!!

Originally posted by @Russell Brazil:

@Ti Jackson...I just made the move from a small brokerage to Long & Foster. I made the move because I wanted brand recognition. That in itself helps to generate leads when talking to people. I get a lot more respect from people when they hear I am with Long and Foster versus some no name brokerage.

If likely suggest Long and Foster, or even Keller Williams. I would also say that the culture of the office you are in should play a role. My office has a very positive and helpful culture which attracted me to it, as opposed to some other offices I visited that seemed more like the agents were competing with one another.

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Hello everyone, I recently came to you guys with a post seeking information about which brokerage I should affiliate with. I haven't received much feedback so, im here again with the same question... I have spoken with long and foster, Keller Williams and Coldwell banker. Each brokerage has their + and - . I really liked Keller Williams, yet I have learned that Keller Williams does not provide leads (which as a new agent I really need leads or floor duty). In addition. I am only 20 years old and I take start up costs into consideration as well (due to me barley having money saved). Im very excited to start this journey, yet I want to start out right and with the right brokerage... Please help me... Which brokerage would you/ did you affiliate with and why?

Thanks guys.

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All Forum Posts by: Ti Jackson

Ti Jackson has started 9 posts and replied 40 times.

Post: Newbie Member from Harford County, Maryland

Post: Real Estate Exam Audio

Post: Newbie Member from Harford County, Maryland

Post: Rookie from Indiana! Only 21, looking to get started!

Post: Rookie from Indiana! Only 21, looking to get started!

Post: Decision on investing

Post: Decision on investing

Post: Decision on investing

Post: Brokerage Affiliation decision

Post: Brokerage Affiliation decision