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14 October 2024 | 420 replies
The vibe here is all about growth, learning, and banding together to make moves in the industry.
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14 October 2024 | 8 replies
See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.
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12 October 2024 | 9 replies
I have a great W-2 not in the industry, but became an agent to be more educated/empowered and save the 3% fees.
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12 October 2024 | 8 replies
There is a lot to learn, and to be frank, the knowledge you're seeking will be 40% of the industry.
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6 October 2024 | 1 reply
Hi all –Disclaimers:I don’t have any experience with industrial real estate - or CRE generally speaking for that matter.I will be keep this post intentionally vague for the sake of privacy.
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11 October 2024 | 5 replies
I always tell people that when I got started in the industry, I expected future-me to always look back on the amazing deals I was able to close.
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14 October 2024 | 14 replies
Welcome @Rebecca Morris,These are the 10 first steps I would recommend to get started in REI (real estate investing):1) Educate Yourself: Read books, take online courses, and attend seminars about real estate basics, market trends, and investment strategies.2) Set Clear Goals: Define what you want to achieve in real estate—whether it’s buying a home, investing in rental properties, or flipping houses.3) Choose Your Niche: Decide if you want to focus on residential, commercial, or industrial real estate, or perhaps a mix of these.4) Research the Market: Analyze your local real estate market.
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15 October 2024 | 34 replies
I am smart and know when the ship of the industry is sinking or taking on water.
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16 October 2024 | 22 replies
If accepted then you gotta hope your financing doesn't take too long or fall apart altogether, and then you have to pray your contractor does a swell job cause that is about as good as a coin flip, and then you need to make a wish that your exit is one timely and two at the price you suspected.Bottom line is, it is hard to set up a network built with pieces from 3 - 4 different verticals within the industry.
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11 October 2024 | 2 replies
IREM President Libby Ekre, CPM, shares five essential things to look for:Licenses & Certifications – Ensure the firm has certifications like CPM or ARM, guaranteeing adherence to industry standards.Regional Experience – Local market knowledge is crucial, especially for properties in smaller cities.Property Type Expertise – Match the company’s strengths with your specific property type for better management.Company Culture – Look for a firm that values customer service and team management.