All Forum Posts by: Andrew Beaver

Hello All, I'd like some advice on selecting a real estate firm to join as I've recently completed the Massachusetts real estate salesperson examination. I have a couple Brokers in mind but I want to make sure I'm asking the appropriate questions during my interview. Could you please provide me with some potential questions that I may ask to determine which agent-broker relationship would fit best. My goal regarding becoming a real estate agent is primarily to utilize the research/analysis tools while researching properties for myself (investor-agent I believe they/we call ourselves). I'm not necessarily looking to service clients and won't be actively looking for clients. Strictly for my research purposes. I understand some may disagree with getting licensed for this purpose but I weighed the personal pros and cons and I'm happy with the decision. Any probing questions you all may have used or wish you would have used would be very helpful. Thank you.

So bigger pockets has some calculators that can help you with that, depending on what type of investment property you're looking for. A rental property/owner occupy or fix and flip/rehab. Many others but those are the two that I've looked at. You can do some digging for those. This takes tons of practice and visiting/talking with contractors/locals in the area but once you figure it out it shouldn't be a problem. For rental properties, you'll start with the property you want and figure out how much the unit will rent for (if multi family units even if you're living in 1 unit). I tend to start with rent o meter to figure out how much a 2 bed 1 bath would rent for in the area. Then it explains step by step what else you'll need. Also there are some BP podcast/YouTube videos that explain how to use the calculator which I've watched repeatedly and I suggest you do the same until it soaks in. You'll want to find out what you'll be bringing in for revenue, how much expenses are going to cost, then you'll end with some type of cash flow number. It'll also help using some type of mortgage calculator to see how much you're willing to do. I googled for my first one until I created my own. You have to figure out how much cash flow you want from a property or what type of Return on investment. I personally listen to the bigger pocket podcast on a regular basis and run deals simply off of trulia or Zillow just to learn as much as I can about my market. I'm in a similar situation as you and outside of networking (and saving), learning is everything

It's never too early to start understanding your market. Going to open houses, getting an understanding what houses are going for/condition/what kind of repairs would be needed is just as important as having the money ready. It'll help you be more informed when you do have the money so you're not just jumping at a "pretty" house. Start doing some deal analysis, 1-2 a day to start. Something that you'll do consistently

Hey Steve Bracero , That's excellent to see another in a similar situation as me in the same area. From what I've heard, I agree with what you're about Worcester. Nice college town with hit or miss streets. Currently I'm using Trulia for my basic research and I visit quite often and do a bit of driving around tiger familiar with the area. I originally was focusing on Malden/ areas closer to Boston but did not think it was realistic to find something in my price range that wouldn't dry out all my funds. My hope is to actually send out letters and try to find a deal that way while also using MLS (currently getting my real estate license for research purposes primarily). With the potential help of a NACA loan, I may be buying sooner than expected (6-9 month range) but I'm still heavy in the understanding the market phase so it's no rush to me. I'd be glad to bounce deal analysis between us / attend open houses as they come along if that's something you're into.

Not allowed to purchase your own properties? I've never heard that before.

Hello All, I'd like some advice on the Worcester Ma market. From what I've seen on the market, Worcester has reasonable purchase prices, really solid rental rates, and close proximity to universities which is always a plus. I'm not too familiar with the good/bad areas in Worcester just yet but will be doing some "walking/driving for dollars" on the next month or two. I understand Worcester has its rough parts but overall there are some decent neighborhoods. Is there something that I'm missing about this city? I feel I could find a good owner occupy property with tenants playing a significant amount of mortgage/expenses... Any thoughts good/bad about the Worcester market? Thanks in advance for any input

This book is literally practice questions times a million haha.. Which is why I'm trying to find it. Thanks for the tips everyone.

Good Morning All,

I'm taking a shot in the dark with this one to see what happens.  I've scheduled to take my real estate agent exam for Massachusetts on 7/26/2016.  I've been looking for the following study guide and have had no luck:

2016 Massachusetts Real Estate Exam Prep Questions and Answers: Study Guide

If anybody has this book and wouldn't mind letting me borrow it until 7/27/2016 I'd truly appreciate it.  

Thanks for any help that can be offered.

I'm curious to here responses for this one

Considering you're 19, probably paying rent (not knowing your financial situation), owner occupy would be a great way to start this venture out. After you take the time to learn a market, it's rents, and networking, I believe purchasing a 2-4 bedroom house near campus and renting out rooms. Potentially living for free. This is a similar strategy I'm looking to take but with a multi family home. This will give you the knowledge of being a landlord with minimal cost to you. But before buying, reading/listening and getting an understanding of what's out there is best. Don't get wrapped up in the hype of certain real estate strategies (get rich quick real estate). You're starting early, you can make big things happen if you do your due diligence up front. Good luck. I like the Michigan market as I use to live in Dearborn/Saginaw