All Forum Posts by: Joseph Rios

Hi @Brett Snodgrass I am looking to buy and hold for now. I currently own a rental property and would like to buy another one in the near future. I'm hoping that with a real estate license I can represent myself and receive a commission. In my state, I need to be a sales agent for a couple of years before I can become a broker, and start up my own realty business.

Hi,

I want to become a real estate investor and/or someday own a real estate business. Should I get a real estate agent license? I understand that once you pass the exam you have to have a broker sponsor you, however I currently work a full time job and I am not sure if anyone will sponsor me working part-time or if I would be able to sell houses working part-time.

Thank you,

Joseph

Thank you @Christopher Giannino @Jay Hinrichs !

I was a little confused by the two terms. So essentially the benefit to or the reason why someone would want to become a broker is to open up a real estate agency and hire real estate agents to work for them?

Also, as a real estate agent would I be able to buy and sell properties for family and friends? And of course get the commission?

Thanks,

Joey

Which license comes in more handy for someone that just wants access to the MLS and buying/selling his own properties (to get the commission)?

Thank you,
Joey

@Wayne Brooks I just got the original, apparently it was sent to the wrong attorney. thanks!

Hi, I bought a property back in March 16' and I have yet to receive the deed (it is now July). I've been asking my attorney for it although I never got a solid answer until finally today, I emailed my attorney AND the title company asking for the deed. This is the response I got from my attorney and I quote "let me see if I can find a copy on the web." When it comes to having the deed to your own property you should always get the original copy correct? Thanks BP community.

Hi, I'm sure this has come up often. I live in NJ and I'm trying to flip the next home I buy. It will be my first flip since I own a rental property. I must admit I'm a bit nervous. I have a few questions I'm hoping someone could answer: 1. Renovation costs: I have the money for the down payment and closing costs however I don't think I have the money for renovation costs. I see people mentioned about taking out a renovation loan from your lender aside from the loan for the house. Is this perfectly fine? Or should I go to my local bank and ask for the loan? 2. When it comes to flipping homes, is it better to buy them at auction, short sale, foreclosure or regular sale? I know that if it through auction it must be cash only so that's def out of the picture for me... 3. Once I get into this more and more is it worth to get my own real estate license without having to go through my realtor? I'm usually the one that finds the houses and I just give her the list to set up the appt. Thanks guys! BP rules!

Originally posted by @Johnny L.:

Originally posted by @Joseph Rios:

Does the house have a basement with a bathroom? I would do some work to have it finished and just live in the basement and rent the other units.

 It does not have a basement but it has two habitable cottages in the backyard. Youre just saying its safer to live within the house? Even on the couch?

 I don't think it matters. I'm assuming this is one of those mother-daughter type properties... I would ask the loan officer if that's ok. But the way I see it it shouldn't be a problem as long as your living in the property and have mail delivered under your name.

Hi Victhor Soares , great job on your flip. Question, when did you decide it was time to sell the property? Were your tenants OK with you showing the house to potential buyers while they were still living in it? Thanks!

Wow these are all amazing! Question for those that rented the property before the flip, when did you decide it was time to sell it? Were your tenants OK with you showing the house to potential buyers while they were still living in it? Thanks!