Work Experience for my future deal

11 Replies

I'm looking to get experience and to make some extra cash by helping and working for someone in the Real Estate field. I'm looking to do my first deal in the next year and I believe this will help me. I do work a full time job for a general contractor but I can still help and hopefully work something out around both of our schedules. 

Study for a RE license and you'll get what you seek. Property Management is it's own beast but I bet you blow thru it to get back where you are as @AaronK suggests.

@Anthony Holloway are you planning to self manage?  If so the local laws are the most important aspect.  If by rental properties you mean the math we can help you with that here, if not the case could you clarify what you mean?  If in CA a RE license may be useful but won't teach you much aside from rote memorization of terms.

@Brian Simpson I thought about getting my RE license but didn’t think I had enough time to give to it, to obtain clients and the work that comes with it. But I’ll reconsider it and maybe I can help and be an assistant to an agent and be able to learn some more that way. Some positions I found you need a RE license

@Aaron K. My short term goal, is to obtain property and manage them myself. My long term goal is to then hire a management company to manage them, while I obtain more properties and develop. I do need to learn and understand the math behind it as well.

I think you are on the right track. I spent 3 mos studying in my off time took the exam and got my license 1st try. So it's not as big a deal as you think. Find a well tenured agent and work the phone's for them and learn to do this well. It will serve you going forward almost daily in this industry because so few are willing to take the punishment that comes with the phones. 

@Anthony Holloway if that is the case the most important factor is setting reasonable expectations in terms of return and overall budget.  Also learning the various notices, laws etc. relevant to property management, that may be best served in a formal course.  Do you know how to calculate a basic return such as the ones you see with the BP calculator.