All Forum Posts by: Kevin Grinstead

Hi Shane, welcome to BP. Check out Dora's website and they list thr schools and their pass rates. I went to American real estate school online and passed the exam the first time.  

If you want your license only to handle your own transactions it might not be worth it to get your License. There are many agencies out there that will give you a place to do your 2 years of mentoring before you can go out on your own.  

Hi Jordan, welcome to Bigger Pockets. When you speak to a lender you can see about what you qualify for and go from there. I know with my clients most had to be above a 700 credit score to use those programs and I would see u ow long they would want you to be at the new job before you can count your income.  

As for housing, you may want to see if you can get a SFR and then rent out rooms to other professionals. If you can do that then they can help pay off your mortgage and tou know that you could cover the whole mortgage.

When looking for a long term strategy, talk to the lender. It will probably best to use FHA for your first purchase and then use one of the other programs for your second home purchase.

Hi Elyse, welcome to BP. Fort Collins is a great place with lots of college rentals. Good luck in getting the next property.  

Hi Devin, 

You can take the classes online and it is quick. The requirement is 168 hours of education and it takes about that much time for the process. 

One thing is, it is not cheap to be a agent. Even at smaller firm you will need to pay fees. Most are required to pay for the MLS service. You have insurance costs and the licensing fee.

How many deals are you going to be doing? If your wifes goal is to be an investor or a flipper you will want to see if doing it yourself is really worth the hassle. 

It is always good to have a broker back you up so you do mot make any major mistakes and if you are only going to be doing a few deals, it might not be worth it to go through the process. 

An expert real estate agent can help you in many ways and if they are good at analyzing deals and reviewing the market they can find you opportunities you may not have been able to find. 

The agent is there to protect the buyer and seller from challenges in the deal and should be the person to help you get the best deal. 

Most real estate agents do less than 5 deals a year accoeding to the National association of Realtors. From my experience, if you are doing less than 3 deals a year the cost and hassles are probably not worth it. 

I would suggest finding an agent that is investor friendly and will help you get deals going, find deals and will charge you less if you just need someone to do the paperwork. And in Colorado, usually the seller pays both agents so if you are making a purchase, the other party will pay for you to have a professional working for you. 

Most agents will also make a deal with you if you're looking to buy and sell or sell and buy to keep you satisfied with their service. 

New listing coming soon for a 3 Bedroom 1.5 bath home in Green Valley Ranch.  Needs about 15 to 20 k in updating but could make a great rental unit or a single family home.  Could rent for up to 2k when updated. 

Contact me for any questions or if you would like to see it. 

Hi Jordan, I agree with Chris. If you are trying to flip houses or even have rentals the banks will require a signficant down payment as opposed to a home you are going to live in.

Hi Justin, Welcome to BP. You can get a mortgage on your current property and take the money out for the down payment on your new property. There are some great lenders that can structure the right mortgage on your current property and your new property. If you are going to live in the new property there are several loans that can be advantageous and I know a few lenders that will help you plan out wach step of the long term vision. 

You should also look into multi unit investing to hep get you to 30 rentals and your 30k a month. 

It might take you a while but once you cash flow your rentals you can be more aggressive at picking up properties.

Let me know if you have any questions 

Recolorado is the most updated system for houses going under contract or coming back on the market. 

Preston, pm me your email address and I'll send you the list of questions. 

Hi Jacob, 

Welcome to BP. Let me know if I can help you in any way with your goals.

Hi Eric, Welcome to BP. Happy investing