All Forum Posts by: Karin Crompton

The above two answers addressed it quite well. To summarize a bit, if you are looking at getting your r.e. license, you will become licensed as a salesperson (i.e. agent) first. After a specified number of years as a licensed salesperson - 2 years in CT, and I don't recall whether it's the same nationally - you can then pursue a broker's license. A broker has additional education and qualifications, not to mention liability. A salesperson has to "hang" their license with a broker in order to be truly licensed and to practice real estate. Simply taking the classes and passing the test is not enough - you need to be affiliated w/a brokerage.

In CT, a salesperson is never a direct employee of a broker; they are always independent contractors, though there are certainly office rules. My understanding is that that's how it works nationally. All money - commissions, for example - passes through the brokerage and then on to the salespeople. Typically, the broker gets a cut of all commissions; that percentage varies among brokerages and salespeople.

Welcome, @Mike Curley! This is a great place to be, and you'll find lots of people interested in talking to you. We all need at least one more good real estate attorney. ;-)

You might consider checking out CTREIA, which meets monthly and is a good place to network. Lots of guru speakers hawking their wares, but also very good attendance and some real-deal investors and a variety of people in the business.

Best of luck!

Thanks, @Ronnie Boyd - yes, send photos! I always love checking out what other people did.

I'm doing some reading and it looks fairly easy to do, though reviewers mention a 3-day cure time and to also make sure you coat with like 3 coats of poly to seal the paint and keep it from chipping. So the lag time could be a little bit of a bummer. It also looks like you need to prep very, very carefully as well b/c it'll stick to anything it touches. Another issue seems to be the smell - very strong and toxic smelling, and I worry about the odor lingering. Still, before-and-after photos I've found look good so far. Looking forward to hearing other people chime in.

Hey everyone,

On our latest flip, I brought my stager in at the pre-rehab stage for suggestions (which I will do from now on). This is a cute little entry-level ranch with a low ARV for our area and is in decent shape to begin with.

My stager suggested some great ideas to spruce up the kitchen, which didn't need an overhaul but instead needed some finishing touches. One idea she gave me is to paint the countertops and we picked out a great color for them that, combined with our other accents, will really change the look of the entire room.

However, I'm nervous about giving the painted countertop thing a try. My painters haven't done it before and I want to know how easy or difficult it is. I went to Home Depot, where the paint guy suggested I get the Rust-Oleum countertop paint (which my HD doesn't carry).

What are your thoughts? I'm not going for anything special - not a granite look or texture, etc. Just giving the smooth countertops a new color. Do I give it a go, and do I need to give the painters some special instructions? Or do I risk it looking like garbage and having to buy all new countertops?

@K. Marie Poe, you're the best! The property closed last week. :-)

(Then we purchased another on Wed. and started work on it; and I put another 5 under contract today w/a wholesaler who had some killer deals (long story) ... looks like we found a buyer for one, and are sorting out which of the others to keep and rehab and which to wholesale ourselves. So I may be looking for some extra bubbly with how busy the past few days have been! No complaints, though.)

Thanks for checking in! And a happy end of the month/weekend to you as well.

I hear you, @Kristen Snyder , and I have some pretty big goals for myself for this year that are a really huge stretch for me. I'm all about setting the goals that make you stretch, with the idea that, if nothing else, you will likely advance to a place you wouldn't have been otherwise. Also, about setting a goal your conscious mind thinks can't happen, and letting the subconscious go to work on finding solutions. At the same time, there's a difference between unlikely and unrealistic. The trick is in learning the difference so you don't constantly set the unrealistic goals and get discouraged.

True, it could happen. Most anything could happen. But back it out for a moment ... to wholesale a property w/in 30 days, you'd really need to find and negotiate a deal in the upcoming week, in order to give yourself 2-3 weeks to then turn around and find an end buyer, negotiate with them, and close.

There's a ton of great info and help on this website. Good luck!

Hi, @Kristen Snyder and welcome to Bigger Pockets. There is a ton of great info here.

I'd listen to all of the podcasts you can find related to wholesaling and read as much as possible; there are tons of blogs and forum posts here on the topic of wholesaling, from experienced people who do it full-time. The "Learn" tab up at the top will direct you to a wealth of info. You might also consider joining CTREIA, which has monthly meetings and is a good place to network (You can Google them and find their website). The monthly speakers are typically gurus looking to pawn their materials, but the meetings are well attended and there are some serious investors in the crowd.

And finally, not to sound like a downer, but the goal of wholesaling a property in the next 30 days w/o spending any money sounds a bit unrealistic. It would be highly unusual to wholesale your first property in a month, and even moreso without doing any marketing. The podcasts and blogs will provide more details, but I would humbly suggest re-evaluating that goal.

Best of luck!

Nice job, @Jonathan Makovsky - looking forward to it. Oh, and I will happily oblige and buy a drink. ;-)

This is good stuff. I assume we're talking about a rental or maybe a lease option? So here's another question: if I do a Sub-2 with a wrap and I've now sold the property and only hold a note for the new owner, I assume this no longer applies? Now the title is in Party #3's hands and I have nothing to refi? (Party 1 = original owner; Party 2 = me; Party 3 = new owner who I've sold to.)

This is an interesting question. So you can refi even though the loan is not in your name? How does that work? I imagine a contingency is that your refi will be used to pay off the underlying lien? Would you need some sort of permission from the original owner, or would that have already been covered in the sub-2 contract?