All Forum Posts by: Jordan Tasei
Jordan Tasei has started 2 posts and replied 6 times.
Quote from @Eric DeNardo:
My early struggle was just getting started. And I realized it was just my fear of taking on an investment and talking to as many people as I could of the options I had. Let's hop on a call or meet for coffee sometime. Would love to chat!
I would love to Eric! I'll send you a DM in the next few weeks and we can schedule a call. I appreciate it.
Quote from @Logan Laperriere:
Quote from @Jordan Tasei:
I am a 26 year old currently working in the trades. I do well for myself, but I believe I'm capable of so much more. I know a career change is in my near future, but I'm struggling to decide what to do. I've had this nagging since I was around 18 that real estate is where I'm supposed to be. I need success stories, failure stories, and people to tell it how it is. I'm not afraid but, I'm afraid. What does it take to be successful in this business? I'm confident in my work ethic and ability to deal with the suck. I'm a grinder, I have been my whole life. Any insight on the good, bad, early struggles, really anything would be appreciated.
Jordan,
Is your long term goal to invest in real estate? or sell real estate?
If you are looking to invest, save and learn as much as you can. Network with local investors, see if you can partner with someone. Use your abilities as a contractor to help another investor who has funding.
If you are looking to sell real estate, as Russell said it has a very high failure rate. I would recommend working at a brokerage with support and training for new agents. Join a top selling team, they will help you with tools and processes to be successful.
Good Luck in your real estate journey! Feel free to reach out if you ever have any questions about investing or becoming a Realtor.
Thank you Logan! Long term has always been investing for me. With a career change on the horizon, becoming a realtor and selling has certainly been on my mind. I appreciate the response!
Quote from @Hamp Lee III:
You can be a part-time real estate agent. You have time to reach for your goal. Check your requirements and take action.
I wish you all the best.
That's where I've been contemplating beginning. I've just heard it may be better to jump in full time. I think I'll start slow and learn as much as I can while holding onto my W2. Thank you Hamp!
Quote from @Russell Brazil:
What does it take to be successful in business?
1) Capital
2) Knowing how to run a business
3) Hard work
4) Time to get over the hump before you start making money.
90% of small businesses fail, mostly because of a lack of working capital. Real estate agents are in line with this at an 87% failure rate. Most new businesses dont turn a profit til year 3 of their existence. So this means even during years 1 and 2, you still need to be funding said business while it loses money.
This is great. Thank you very much.
I am a 26 year old currently working in the trades. I do well for myself, but I believe I'm capable of so much more. I know a career change is in my near future, but I'm struggling to decide what to do. I've had this nagging since I was around 18 that real estate is where I'm supposed to be. I need success stories, failure stories, and people to tell it how it is. I'm not afraid but, I'm afraid. What does it take to be successful in this business? I'm confident in my work ethic and ability to deal with the suck. I'm a grinder, I have been my whole life. Any insight on the good, bad, early struggles, really anything would be appreciated.
Post: Buying Pre-Foreclosures... What am I missing?!
- Posts 6
- Votes 0
I've been researching pre-foreclosures in my area for quite some time. I spend hours on the county site seeing which properties have had NEDs recorded, comparing original loan amount vs owed amount vs EMV. There was one I wanted to purchase as a primary residence, unfortunately another investor beat me to it. They were able to purchase it for ~70% of EMV, flip it within a month and resell it for full market value. (Not sure what amount was profit) I see the numbers and how it works, is it just all about the leg work and outreach to those homeowners? Is my example deal above unheard of for pre foreclosures? As far as I've come to understand, if you purchase something pre foreclosure you can obtain a conventional loan correct? And if I were to purchase it as a Primary Residence, I don't necessarily need 20% down. If purchasing with a conventional loan, I would be protected from any liens against the property, or at least have knowledge of them no?
Am I way off base here, or do I just need to make contact with these homeowners and keep looking at the numbers the way I am?
Thanks!!