All Forum Posts by: Ariel Smith

@Eric Upchurch check this out to see if it helps! http://www.bankrate.com/finance/topic/heloc.aspx

@Eric Upchurch I would connect with a lender and let them know your goals to see what they would recommend. It's going to depend on many factors as well as your specific goals

@Anthony Angotti direct mail is a huge part of my marketing. We target an area of 6000 properties and send out in weekly batches of 2000. Each property receives mail every 3 weeks. It's very important to stay top of mind for direct mail because you're looking to catch someone when they are ready or thinking about it. We also call every week to these properties. It takes time to build up, but it definitely pays off if you are consistent. The key is consistency.

@Solomon Ganz I think there has been a lot of good advice and information already given. As a newer agent myself, I'd say you should go for it. I had a mini breakdown while on a vacation with my boyfriend in Hawaii when I was finally coming to terms with leaving my high paying tech job and jumping into the unknown of being self-employed! I will say that I love it though so far and am not looking back. It takes a long time to build a foundation of a business that will grow over time, so don't expect to make a lot of money right away, but once you get clients then it starts to snowball.

One thing that hasn't been brought up is the amount of time it takes to get licensed in CA. There are the classroom minimum time requirements as well as the amount of time it takes for the BRE to process your paperwork. For me, it took about 3 months to get a test date from when I completed the classes and sent in my paperwork! Just something to consider since you mentioned you already left your job. It might be a good idea, as others have brought up, to do some consulting work on the side for an agent to learn about the marketing aspect of real estate. This way you can create some income while studying for your license and waiting for the BRE to process you. 

@Mike Redick I would've asked the question up front: "how long do you think it will take to get these units rented?" that would've given you an idea of A. a ball park estimate and most importantly B. whether or not they know the rental market.

I can't speak to your market and rehab times, but in my market that would've taken no longer than a month max. 2 months seems outrageous for those updates

@Kameron Patterson this is kind of a confusing question without knowing your exact goals. If you're going to become an agent and live most places, you will need a car. I'm not sure why your DTI matters unless you are trying to qualify for a loan right now or cannot afford the payment

@Gururaj Iyer there's no published official data that I would go off of, but checking out airdna.co is a good start to give you a general idea

Not normal in my market. This agent has what we like to call "commission breath" and it stinks.

@Zig Lee your photos should be of the actual unit as it currently is, not of staged photos from a previous sale. Why? because there are a plethora of scam properties online that advertise for rent but use old MLS photos. As renters are looking through Craigslist, Zillow, etc. they will most likely think your property is a scam - I know I would.

That being said, the winter is a slower time for rentals as most people do not want to move in the fourth quarter. Your price is most likely too high for the current market if it is still sitting vacant. Check out rentometer.com for some quick insight on rentals in your area. Best of luck!

@Sam Josh I get all of my bookings from Airbnb. However, I know people have had success with CHBO, VRBO, craigslist, and companies like Homesuite