All Forum Posts by: Cory Calvin

I am currently building SFR's in the Northern Colorado area one at a time. I GC the projects and complete a lot of the work myself; sub out the trades I am not licensed to perform. The big investor/builder guy who got me into building told me last summer to get my RE license. So in Aug 2014 I did the course work, achieved my license, and hung it with him.

Here's the thing - I get 100% of the commission, and he pays all of my fees until I get established. However since he is way too busy with his own stuff, I am on my own to figure out how to be a successful RE agent/broker. I have listened to tons of podcasts here, read books, but what I am figuring out is these super agents don't want to give away their secrets (understood), so their answers to the questions are very vague on what to do.

So - if you were a new agent and have already beat up your friends, family, co-workers.....what would you do next?    

This is my plan......

Cool sense of accomplishment! Congrats!! 

I vote go for it! 
Getting your license will give you a leg up when you start your investing career. 

Sell your first house and you will pay for you license 4 times over. So the cost of entry is extremely low vs. the potential. 

One book I found helpful when I started is here: (And easy to read)

http://www.amazon.com/Traps-Getting-Started-Estate...

Just noticed this was an year old post. Whoops! Well hopefully you obtained your license and are getting after it! 

I used Kaplan and ended up passing both the National and State in the higher percentile. 
Sell one house and you have paid for your license 4 times. 
You can obtain it in less than a month; so it was definitely worth it for the small cost of entry. 

Talk about having vision! Extremely impressive! 

Last March I found a 1/2 acre foreclosed lot in Northern Colorado on a golf course. The guy who had it already had plans and setbacks approved through the city before it foreclosed. He gave me the engineering and the plans so I could continue the project. I found an investor who agreed to purchase the lot and obtain the const. loan to build the house. So we bought the lot in an LLC and have attempted const. loans through 4 different banks. All resulting in denial of not enought const. experience.

I found a portfolio lender in Denver willing to give us the loan but they want a G.C. with experience and a track record to actually sign on the loan with us that way the bank knows there will be boots on the ground.

After talking with a couple G.C.'s that were recommended, they were not quite willing to take on that much of a risk.

So at this point we own the lot, we have the approved plans and engineering, have a profitable cost breakdown and all of the bids to complete the work. In March last year, I started the excavation and and have it completed to sub-grade ready to pour the foundation. We are having difficulty getting the const. loan.

Any advice you can swing our way? 

John, thanks for the insight!
Do you have a certain timeline that you use?

I am working on a spec build now and curious to know what everyone is using to put together a construction timeline or outlook?

Likewise Danae! Glad I got to meet everyone I did. Looking forward to March!