All Forum Posts by: Anthony Larson

edit 2-4s arent possible because i dont think their are any out here

tons of responses. i been busy. first time on here in a minute.

anyone ever buy houses in las vegas. from what i seen its sfh, apartment complexes and a few high rise condos. cant buy apartments and dont know anything about condos. so 2-4 families arent feasible here.

Here in las vegas, from what I can tell, renting out rooms is very popular. I was wondering if anyone out their buys properties with the intent of renting out the rooms rather than renting out the house as a whole.

Any input is very much appreciated.

thats a good point becuase you build experience and with holding and buying turn key properties with a competent realtor and inspector you will have no huge expenses that you may come across with when doing rehabs.

for me its the route i'm taking

although after reading jay decemas book the thought of fixing up multi is appealing

another thought would be to sell with owner financing get 20% down with a compettivie interest rate

and use that money to buy another property, just keep a reserve account.
depending on how much you get from the down payment you may be able to get a 4-unit or soemthing like that

I think with that plan you'll be getting cash flow from the seller finance house, should cashflow from 4-unit and equity buildup plus building equity in your primary

so your accomplishing both goals

do a search for the 50% rule on bp that will help with buying the 4 unit (or whatever type of property you decide on on)

check with a lender and make sure you would qualify to purchase another property

I think it would be difficult to explain to a guy why you deserve the contract fee.

Typically, investors pay contract fees for someone who has done the leg work.

figured out estimate repair costs, comps, market rent etc

i'm not in expert on this

but I would say look for properties were you live first, find buyers at rei clubs and know what to look for.

have a buyer before finding a property, becuase its unfair for the seller if you lock up a house when you can't assign it.

do a search on wholesaling out of town properties see what you find.
just saying before taking my word on it do a little double checking. But, I think you'll be in over your head doing a deal a thousand miles away with no experience

can someone explain RUBS to me please if you have a second.

sounds like its money made from converting to tenant paid utilities

I won't be home from kuwait until August or so of next year, however I want to get my 4 unit with the Va loan I'll live in. Get a realtor license and work for First Weber Group and brokers license in Wisconsin to start a Property Management company. Veteran Real Estate Property Management, LLC.

plus an additional 6-8 units that cashflow 600-800 a month I offcourse will manage myself.

I have been considering purchasing a sports bar in Milwaukee, Wisconsin. Theres one on the market now for $220,000.

HIGH FIVE!!!!!!

?

I'm looking at what is required to becoming a broker in Wisconsin

I found this online

Real Estate Broker - Licensing

1) Complete required education.

A. All applicants for licensure as a broker must complete one of the following as proof of completion of the education requirement:

a) a specific 36-hour brokers course of approved education programs in business management from an an approved Wisconsin school AND if applicant does not presently hold a salesperson's license in Wisconsin, applicant must also complete the 72-hour salesperson education requirement; OR

b) a transcript showing 20 academic semester-hours credit in real estate or real estate related law completed at an accredited institution of higher education AND if applicant does not presently hold a salesperson's license in Wisconsin, applicant must also complete the 72-hour salesperson education requirement; OR

c) a photocopy of current bar membership card or a certificate of good standing in the Wisconsin State Bar.

However, WRA.org says this

Broker License Information for Wisconsin Residents
Resident Applicants
Wisconsin resident applicants for Broker may qualify for the broker's examination and a broker's license by satisfying the following requirements:

Be licensed as a Wisconsin salesperson or have passed the Wisconsin salesperson's examination and:
Show proof of completion of a required educational program approved by the department of regulation and licensing; or
Show proof of having obtained twenty (20) semester-hour credits in real estate or real estate-related law courses at an accredited institution of higher education (NOTE: Applicants are advised to submit transcripts to the Department for approval of credit courses prior to applying for examination.); or
Show proof of being licensed to practice law in Wisconsin.
A broker applicant is also required to pass the Wisconsin broker's examination.

MY QUESTION IS THIS

Do you need 20 credit hours of real estate related coursework to become a broker in WI?