All Forum Posts by: Edgar U.

I agree with Ben, wholesaling is a great way to learn and getting your feet wet; however, having a real real estate license is a must in todays market. Reason, you will learn a ton more about real estate business and have a board that can help assist you in all matters real estate related.

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Earn Interest On Your Money with OffMarketHomes! – Click For More Info(you can also comment/PM and send us your best lending terms, space is limited!)

Click here for more info on this unit.

@Lazaro La RosaWhy not move into the property? That is, if you don't own another property already. I would move into this property and do a house hack. This will give you some experience into the landlord business plus you will be living rent/mortgage free + build massive rent amount. Then you have two options:

(1) Refinance and repeat per the BRRRR strategy and get another property.

(2) Use the rent amount collected from your house hack + some savings you have because you didn't pay any mortgage. Use those funds for a rainy day until you build enough cash reserve to go real estate FULL TIME!

Thanks for joining our community and let me know if you need any help!

Greg thanks for joining our wonderful BP community! It seems like you are in a pickle but it's definitely doable. You can start by trying to get equity out of your current home and using this as DP for another property. Then use that money to fix the repairs the property need so you can attract quality tenants to your home.  If you were to sell I would try get an agent to give you a quick idea of the value of your home as well even if it's just out of curiosity. Sometimes what the internet says as opposed to what you research is could be a lot more. Just my two cents. 

As previous members have mentioned being a landlord isn't easy, so keep that in mind. I also agree with what Greg mentioned that the unit being illegal and could post potential conflicts between the new tenant and the efficiency tenant.

The following is a quick cost and overview for getting a license in Florida:

Real Estate Course for $99 bucks - check online for courses

Application and Fingerprints - $90 bucks

Testing through person vue - $40 bucks

* All figures approximate

Joining the board is the most expensive so I don't know in your area how much it'll be. Calculate under $500 then hang your license with a broker that gives 100% commission no desk fee, etc. If you have a 9-5 job save to pay this off,  or pay it with a 0% Introduction credit card for a year and pay it off by then :) 

All in all, it'll be worth your while and time than helping a newbie agent. Like I said look for a top agent in your area and work as an Admin, you'll get paid plus learn a lot more. 

If you really want to work for an agent for free I would just ask them but I am not sure how the broker will handle this.

The best way to get started will be to work as an admin, you can help with answering calls to a top producing agent. They in turn will most likely give you MLS access, then try to offer your services of analyzing real estate investment deals and blasting to their buyers list. The other option will just to get your license it'll cost you $100 for real estate exam online, plus $35 for state exam, and then some more to join the board. I don't think any beginner agent will have the funds necessary to pay even the lowest of low wages to anyone if they are just new or getting started just IMO.

Hey @Mark Alexander local wholesaler and now newer agent for Broward/North Dade area only. Check out the BP marketplace for excellent deals throughout our area. If I were you, I would stick with getting familiar with understanding Multi Family numbers, cash flow, COC returns, etc. Check out the BP calculator and definitely you need to become a BP member. Let me know if you need any help!

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