All Forum Posts by: Trevor Jones

Hey Ali,

I actually earned a degree in Business Administration/Real Estate in 1990.  That gave me 7 of the 8 classes I needed.  There are two ways to get your broker's license, and both of them require the 8 classes:

1.  Get a degree in real estate

2.  Have 2 years experience as a licensed agent

I don't believe  they have to be college classes - just need to meet the requirements.  There are a ton of schools out there.  You can probably take all the classes online.  For you, the fastest path would be to get your agents license, and while working of two years, take all the classes.

Hope this helps and best of luck!

Trevor

Getting on Bigger Pockets 5 months ago and listening to like 35 podcasts got us all excited about real estate.   We figured if we were licensed, we'd be ahead of the game.  And that began our quest to get licensed.

And now...  I've got my broker's license and my wife is days away from receiving her agents license.  Funny thing is that we're pretty excited about working that side of the business too now!  

We've been so busy with that stuff, that we haven't been active here, but that should change.  Still jazzed too get into investing.  Originally, we wanted to do flips.. but after all the research, that seems like a ton of work.  More interested in rental properties - would love to get some multi families!  Soon!

Our best to all of you!  We'll see you here and maybe in person!

Trevor & Leila

Hi James, 

Contact the market place at Keller Williams.  Here is the one local to you:  http://www.fortworth.yourkwoffice.com.  You will find it's a great environment with strong values.  They are awesome and welcoming to new agents in the industry and will guide you through all the steps you need.  

I live in Simi Valley - about 40 minutes NW of Los Angeles, so real estate isn't cheap around here.

I'm a new member, and have listened to about half the podcasts. Fantastic info for sure.  However most of the time, the numbers they talk about aren't remotely relevant to my area.  The 2% rule for a rental!  Not even close!  A basic house around here costs about $500,000.  There is no way it would ever rent for anything close to $10,000 per month.  Closer to $2200-$2400.

As far as flips, its a similar situation.  You might be able to find a run down 3/2 for $350,000 in a ghetto neighborhood.

So my question is, as a newbie, is it possible to be a successful investor in Southern California?  I'm sure it IS, since there are a ton of properties being rented out everyday, so someone is doing it!

Is anyone on BP doing it, and staying in or near the bigger cities?

I know I could find less expensive properties as I get farther from Los Angeles, but I'd like to stay as close to home as possible.

Any input would be welcomed!  

Thanks,

Trevor

@Shane Pearlman & others that responded Thank you!  (got to figure out how to add multiple @'s!) 

Leila here, Trevor's wife. Thank you for the response to Trevor's debt question. He told me about the post this morning.  in essence I said we need to lay it out and see where the best allocation of money going out will produce the best yield. Thanks again for the insight. We are both extremely driven and have been successful in business ownership for years.  @Ricardo S. we discussed this morning about trimming the 401K to 5% so we get the employee match, thank you for challenging the 401K.  It's worth running the numbers.and weighing it out.  When we become a team we are pretty unstoppable.  We will keep you updated.  This is good for accountability. 

Thanks Hattie!  Great advice!

Welp...

14k on one car

29k on the other

25k in plastic

4k in medical

Low interest on the cars, teens on the plastic, none on the medical

Net monthly income is about 10k (after taxes, health, dental, vision, 401k and FSA deductions).  Can be more or less depending on my side business. 

Expenses are... about 10k per month, depending on how much I pay down the plastic and medical.