Would You Recommend RE Licence? (for Starters)
Hellol! I am interest in becoming a real estate investor. I have owned and sold properties (my own/family). Would you recommend taking a Real Estate License?Is it helpful to spot properties in distress in advance, MLS, and see the market as an insider? Thanks for sharing! (Northern NJ)
Thanks Jim, good input.
Another question if I may: What is the best source of finding foreclosure, pre foreclosure properties? checking with the Cities, banks? Are those pre foreclosure paid listing trustworthy?
Thanks again!
In FL, Information Resource Services of Florida (IRSFL) is great! They are accurate and affordable and I have come to trust their information.
[addsig]
Thanks bargain76. Any recommendation for NJ service or public listings?
jimandlacy-
I agree. The first day of class the teacher (a BIC for 20+ years), said that it might be in the investors best interest not to get the license. So that might be the case in N.C. But the education has been outstanding, I am learning a lot about NC RE law. And for less than $70 at my community college it is a bargain.
are the rents a market level? if so, it seems that you are cutting it very close. If not ...how much can you raise them? and when can you raise them?
Bottom line you need to determine what your PITI will be - add water etc and see where the money falls out.
Rents are close to market. Might be able to raise them some. Currently there is one vacency out of 32 units in the complex. I am looking to hold these units, so I am looking at some cash flow. My numbers net me about 400 a month before vacency and upkeep (assume 900 for mortgage and 300 water/sewer etc). I will manage. Not great, but my cost will be 5% down (about 7k out of my pocket).