NEW: BP Podcast 66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank

Hide this

From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1519 topics, 14414 posts — Last Post 04/20/14, 02:59AM

BiggerPockets Exclusive PRO Area

117 topics, 839 posts — Last Post 04/18/14, 05:47AM

New Member Introductions

10896 topics, 85718 posts — Last Post 04/20/14, 01:38AM

Real Estate Success Stories

396 topics, 6161 posts — Last Post 04/19/14, 05:20PM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5942 topics, 46831 posts — Last Post 04/20/14, 03:28AM

Renters

643 topics, 5817 posts — Last Post 04/19/14, 09:29AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/16/14, 03:58AM

Home Owner Association (HOA) Issues & Problems Forum

237 topics, 1609 posts — Last Post 04/17/14, 08:53AM

Do it Yourself

657 topics, 6272 posts — Last Post 04/20/14, 12:49AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3683 topics, 29531 posts — Last Post 04/20/14, 04:00AM

Real Estate Guru, Book & Course Reviews and Discussions

1133 topics, 11562 posts — Last Post 04/19/14, 12:17PM

Ask About A Real Estate Company

741 topics, 7323 posts — Last Post 04/19/14, 10:36PM

Real Estate Investing

Real Estate Strategies

Wholesaling

5606 topics, 43753 posts — Last Post 04/20/14, 01:42AM

Rehabbing and House Flipping

3334 topics, 31004 posts — Last Post 04/19/14, 06:45PM

Real Estate Development & New Home Construction

553 topics, 4685 posts — Last Post 04/19/14, 06:13PM

Innovative Strategies

703 topics, 6027 posts — Last Post 04/18/14, 08:48AM

Tax Liens, Notes, Paper, & Cash Flows Discussion

866 topics, 6678 posts — Last Post 04/19/14, 06:06AM

Rent to Own a.k.a. Lease Purchase, Lease Options

693 topics, 4902 posts — Last Post 04/19/14, 04:53PM

1031 Exchanges

143 topics, 1054 posts — Last Post 04/18/14, 08:41AM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1687 topics, 11292 posts — Last Post 04/20/14, 12:14AM

HUD, VA, and Tax Sales

415 topics, 3097 posts — Last Post 04/19/14, 10:19PM

REOs

1214 topics, 10578 posts — Last Post 04/20/14, 12:34AM

Short Sales

1534 topics, 13120 posts — Last Post 04/17/14, 04:44PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7207 topics, 70777 posts — Last Post 04/19/14, 11:42PM

Mobile Homes & Mobile Home Park Investing

638 topics, 5141 posts — Last Post 04/19/14, 09:49AM

Investor Basics

Starting Out

7706 topics, 60501 posts — Last Post 04/20/14, 03:45AM

Investor Psychology

431 topics, 6105 posts — Last Post 04/20/14, 12:22AM

General Real Estate Investing

4718 topics, 37214 posts — Last Post 04/19/14, 08:08PM

Real Estate Investor Marketing

1731 topics, 14094 posts — Last Post 04/19/14, 06:39AM

Commercial Real Estate

Commercial Real Estate Investing Forum

1410 topics, 8994 posts — Last Post 04/19/14, 04:34PM

Multi-Family and Apartment Investing

1109 topics, 9239 posts — Last Post 04/19/14, 07:12PM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

641 topics, 4895 posts — Last Post 04/19/14, 09:33PM

Business Basics

Goals, Business Plans & Entities

831 topics, 7562 posts — Last Post 04/18/14, 04:25PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2788 topics, 20023 posts — Last Post 04/20/14, 01:26AM

Property Insurance

309 topics, 2045 posts — Last Post 04/17/14, 07:41PM

Personal Finance Discussion

328 topics, 2732 posts — Last Post 04/19/14, 06:57PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2834 topics, 19702 posts — Last Post 04/19/14, 06:39PM

Creative Real Estate Financing

1210 topics, 8771 posts — Last Post 04/19/14, 08:28PM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1211 topics, 7995 posts — Last Post 04/19/14, 08:09PM

Bankers, Lenders, and Mortgage Brokers

442 topics, 1924 posts — Last Post 04/19/14, 07:27PM

Contractors

269 topics, 1680 posts — Last Post 04/20/14, 03:23AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

1990 topics, 11614 posts — Last Post 04/19/14, 07:40PM

Americans & International Real Estate

161 topics, 566 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

64 topics, 428 posts — Last Post 04/18/14, 04:22AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15020 topics, 53961 posts — Last Post 04/20/14, 02:33AM

Real Estate Events and Happenings

164 topics, 2515 posts — Last Post 04/19/14, 07:29PM

Off-Topic

Off Topic

Off-Topic

2905 topics, 32411 posts — Last Post 04/19/14, 08:03AM

Housing News & Real Estate Market

914 topics, 8351 posts — Last Post 04/17/14, 08:41AM

BiggerPockets Real Estate Investing Summit

97 topics, 1751 posts — Last Post 04/10/14, 02:27PM

BiggerPockets Resources

Forums » Real Estate Agents » First Night of Realtor School

First Night of Realtor School

14 posts by 5 users

Signup

SFR Investor · Scottsdale, Arizona


I'm not planning on writing about every night I go to Realtor school but I thought it was worth mentioning my thoughts on my first class of Realtor School.

I'm attending ASREB, I think it stands for Arizona School of RE & Business or something like that.

The little 20 minute whatever you call it before they stick you in a class wasn't bad at all. No big hype and upsell going on. I appreciated that.

They don't start you off from the very beginning, its more like a cycle of classes and you just get thrown in and the class you just missed will basically be your last class, if that makes sense. I was cool with that I guess.

I can understand them doing that so that every class schedule basically had a full(er) class instead of just the 4 of us newbs tonight.

The topic of tonights class was something like Residential Financing. Basically discussing FHA,VA and Conventional. Interesting, it always has been to me.

What I didn't get though was why a Realtor was teaching the class considering some of the things that were being taught. Now, I understand and agree with why its important for agents to know these things, I just thought a Mortgage Professional should be the one instructing, not a Realtor ya know.

Either way, it wasn't too bad. If you guys/gals have any questions feel free to ask. Again, I won't be discussing every one of my classes, just randomly and certain interesting things that might come up.



Real Estate Investor · Springfield, Missouri


So Nick, what's the current status now, the low down, the nts n' bolts of it ? Did they explain the difference between MIP and PMI? Are you passing? LOL


Financexaminer@real estate investor dot com


SFR Investor · Scottsdale, Arizona


Ya, lets test me without me opening the book(scouts honor)

MIP = Mortgage Insurance Premium
PMI = Private Mortgage Insurance

I'm gonna write up a little something about my to date progress in addition to a question I thought of tonight.



Real Estate Investor · Springfield, Missouri


You must be attending a large school, how many are going through it? Breaking the subjects down in seperate classes is a good idea (of sorts). When I went there were two instructors as a tag team with one class.

A draw back to that is that some related materials are complimentary, talking about a survey requirements and enchroachments are easily understood putting it in context with title issues or conveyance. If you hadn't had that class it could seem like greek.....guess it depends on how it's laied out.

Interesting to me anyway.

Speaking of surveys, did you get to chains and rods yet? LOL


Financexaminer@real estate investor dot com


SFR Investor · Scottsdale, Arizona


It doesn't seem like a large school. There are about 15-20 students in the classroom any given day though so far.

Last nights class was real estate law. It wasn't as interesting as I thought/hoped it would be. Mostly, it was legal differences between a salesperson & a Broker.

One thing I wish was possible is that salespersons/agents would have the ability to decide what 'type' of license they want.

I have absolutely NO interest in commercial. I don't have any ambition to become a commercial broker today, tomorrow or in future at any time.

So when the class is about something commercial. I do everything I can to stay awake.

Its not anything the school can do because they're only preparing you for the test but I wish the state RE department would allow those interested in ONLY residential to get a residential ONLY license. That would eliminate the things I consider boring.

Bill, 1 mile = 320 rods. Each Rod is 16.5 feet. Also '1 section is 640 acres' not related to Rods, just through that in there because I've never heard of these and thought how useless :)

All the math is fun though. Here is an example:

A parcel of land contains 8200 square yards with a frontage of 250 feet. What is the side measurement in feet?



Real Estate Investor · Springfield, Missouri


Yep and a chain is 20.1168 meters, funny what you remember from a test. The tests are pretty much memorization as they usually show the actual test questions. They may show you 500 questions and you might get 120 on the test. It's something like that here. The Brokers test has some actual thinking involved, LOL

You'll need to memorize the correct answers as you can make assumptions that are not correct.

As to your question, it depends on the shape of the lot and it depends if the road turns away from the frontage.


Financexaminer@real estate investor dot com


SFR Investor · Scottsdale, Arizona


Originally posted by Financexaminer:

As to your question, it depends on the shape of the lot and it depends if the road turns away from the frontage.

Nope, there is an actual answer to it. Assume ingress/egress are not in the equation. The question is word for word out of last nights worksheet.



Real Estate Investor · Audubon, Pennsylvania


Originally posted by motiv8td:
...
All the math is fun though. Here is an example:

A parcel of land contains 8200 square yards with a frontage of 250 feet. What is the side measurement in feet?

"Insufficient information to provide a solution" should be the correct answer. If the lot is rectangular, with 90 degree corners, you will get one answer (probably the one the questioner was thinking of), but if you have an odd-shaped lot, such as triangular, then the answer will be quite different.


Steve Babiak, Redeeming Properties, LLC
Telephone: 6109082183
...


SFR Investor · Scottsdale, Arizona


ya, sorry, also assume that it is rectangular. Although that is exactly how it is worded, the instructor did say for us to assume it is a rectangle.



Real Estate Investor · Springfield, Missouri


(8200 X 9) / 250 = 295.20'

Guess you need to know there are 9 sq ft in a sq. yard.


Financexaminer@real estate investor dot com


· Jacksonville, Florida


Good luck and keep us posted!



SFR Investor · Scottsdale, Arizona


Originally posted by Financexaminer:
(8200 X 9) / 250 = 295.20'

Guess you need to know there are 9 sq ft in a sq. yard.

yeppers, apparently that was the lesson within the lesson. Good job!



Real Estate Investor · Springfield, Missouri


So Nick, did ya learn anything else lately?


Financexaminer@real estate investor dot com


Real Estate Investor · Milwaukee, Wisconsin


This is why realtors are so good at helping investment properties. Do they teach you cashflow = RENT-PITI in the next math lesson? If your answer to the above formula is positive you need to shout out "THIS THING IS A CASH COW!"





Sign up