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18 May 2020 | 2 replies
@Ahmad Frost - When I took the course and test I kept it pretty simple and just used the illinois.gov website below:https://www.illinoisrealtors.org/education/real-estate-license-illinois/It was comprehensive and provided enough information and detail for me to pass the test.
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27 May 2020 | 1 reply
Traditionally most of my sellers have been via probate.With that said, with the probate courts moving slow, and evictions right now being basically non-existent (due to widely shut-down courts) I've found it a little tricky figuring out what to do.I called my probate list about a month into the COVID situation (to "test the waters"), and most people said they were frozen 'till the pandemic blew-over.
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27 May 2020 | 14 replies
Test to see what works.John Martinez has a great video on this on his YT channel - the invisible funnel he calls it.
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30 June 2020 | 7 replies
I want to hit the gas with my investing but there are a few bottle necks holding me back, as any investor comes across.
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19 May 2020 | 1 reply
They all meet the 1% rule/test Brandon (from BP) teaches that for a SFH make sure each unit produces a cash flow of at least $200, and for MFH $100 per month.
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19 May 2020 | 9 replies
On the multi side as a former Freddie employee in underwriting and now a Freddie/Fannie originator, 3 years IO tells me it's likely a 10 year deal or longer. 3 years is typical, on 7 year paper it will tap out at 2 years (there are refinance test restrictions, etc...).
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19 May 2020 | 1 reply
This is based on temporary regulations, but you only need to meet 1 of the 7 tests - 500 hours is one, but there are 6 others that are likely much easier to meet.For all of this, you should have a call with a CPA/EA with strong experience in real estate, outline your circumstances in detail, and see where you fallAs far as what hours count... really any services provided that you would consider "work" in real estate, but of course there are exclusions for work you are doing specifically to hit the hours or "investor" activities such as reviewing financials.
21 May 2020 | 5 replies
It'll help train your mind how to think, and that's an invaluable fundamental life-long skill.And, instead of wasting your spare time outside fo that on the foolish pursuits common amongst immature people and minds, study for and take the RE license test.
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21 May 2020 | 4 replies
Now, of course I would test a 5-10 sqft portion before doing the entire floor.
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26 May 2020 | 13 replies
The reality is people are nervous about the following - getting taken advantage of on the buyside (the way to limit that is test out different people and find someone you like/trust or go big once and reduce the number of transactions you need to do).