Hi, i was wondering, do i need a real estate course or can i just find a real estate agent that knows everything and can show me a home to put a down payment on and then just rent it out to someone?
1. I figured that an agent can find me a good house
2. and then maybe she could check for liens etc
3. and then get find someone for me to do a inspection on the house etc, or do i need to go through a real estate course and learn more. I do know a little bit since i did go through a basic contract flipping course.
I just thought a real estate agent could help with all of it. Figured they would know everything and have connections to people etc to get things done for me.
Anyone ever have a real estate agent do most of this for you or is it impossible to do it the way i want i described?
Well, i thought that a real estate agent makes like 10% of a sale for a house. Doesn't the real estate agent make money if i end up giving here the 20% down payment on a house? Because it would be like i was going to buy the house. But i would just rent it out instead and the actual person that moved in would pay the mortgage and some extra so i could make a profit.
And as far as the real estate agent, she might recommend some people she knows because i would tell her that i need a property so that i can rent it out and i'll give you 20% down and all i need is for you to find me a good house to buy.
And that might make her want to help me out a bit because she would make money because i would be giving her the 20% down payment for the house and she would make her commission on the house. But then again, that's if the real estate agent makes money if someone just gives here a down payment on a house. So just wondering if this scenario is possible. I would cover the cost of paying for inspections etc if necessary.
Investor · Houston, TX · Member since 2012 · 354 posts · 186 votes
10y
First, a real estate agent doesn't check for liens, the title company does that. And most agents make 6% of the house price. The 20% down is a requirement of the bank and it doesn't go to the real estate agent.. Based on the things you've said, I really suggest some more research. Might be a good idea to take the real estate course.
Investor · Houston, TX · Member since 2012 · 354 posts · 186 votes
10y
I would just Google it. I'm from Texas and we have different courses here. I think the general information is the same. I took mine online, but I don't really like sitting in classes. Depends on what the best way to learn for you is.
Property Manager · Brecksville, OH · Member since 2014 · 486 posts · 464 votes
10y
Ivan
You don't need to take a real estate class. Call any real estate office and ask to talk to the broker. Tell the broker that you are considering taking real estate classes and that you want to buy a rental home. Ask if there is someone you could meet with that would explain the process and answer questions about what real estate agents do and how they are compensated. Offer to buy lunch or coffee.