All Forum Posts by: Marie Fries

@Preetinder Singh and For all those whose followed this thread, I passed my Massachusetts Real Estate Exam and now I'm licensed. Now onto the next journey of real estate. Anyone who is still in the process of getting licensed keep studying and good luck!

What are the best options and strategies for people getting started later in life such as 40's, 50's and 60's? I've been a single mom of 2 kids now almost grown (my son had many medical issues when he was young therefore money was always tight or non-existent we spent so much time in the hospitals). 

Today, things are better now and I'm starting new beginnings; I'm in my 50's and want to know "What is the best way to get started at this age?" to generate immediate income and passive income.

I just got my real estate license within the last week. I'm always listening to podcasts and on the forums trying to be active as well as attend REI groups. I'm interested in short-term rentals for business use and possibly buy a live-in 3-4 unit for passive income as well as anything that comes my way.

Also, be careful with the poisons like @Dan K. mentioned; if tenants have pets or children it could be deadly; they mostly use pellets which look like candy (that kids could try to ingest) or treats. If the pet cat or dog kills the poisoned rodent and eats it; it can make the pet sick or death. Check for the slightest gaps and holes; mice can squeeze thru a hole smaller than a dime. They can reproduce every three weeks with several pups (3-14 per litter). You'll need to do all of your units on a regular basis during the winter months. Good Luck.

@Martin Neal Something needs to be done. The cabinets can be redone (paint or stain) but whole kitchen layout is not very functional. If you decide to change the layout of the stove think corner stove or corner sink. This would give more counter top space and cabinet storage and improve function. Fix the refrigerator placement as well. Good luck.

@Greg Stetz For me it is Step 1 of my new Real Estate journey. I finished my classes in November and just passed the test last week. Step 2 is to take Action Step 3 find my first deal and continue on the path of success

Sounds great just a little far for me. I'm on the South Shore and it depends what night and time (mostly because of Traffic). I just got this game for Christmas. Keep me posted. 

Originally posted by @Ade Amoo:

@Preetinder Singh

I’m not sure how much time you’d have but I do not have a lot of time. So I went the online classes route. I think it’s longer but so far one is able to study independently, it’s pretty nice.

 Some states like Massachusetts do not offer online classes. It must be live or by videos in real estate brokers instructors office and the broker, the instructor must be present.

Congratulations on taking a very serious step into the Real Estate world. I'm in neighboring Massachusetts and just finished my real estate classes a few weeks ago and now I'm studying for the state exam taking test 12/31/2018; I want to start the New Year off with my real estate license. Yes, I'm still a newbie that is learning everything I can; but also learned that I need to pace myself.

Here are a few suggestions for you to get started for your upcoming classes:

1. Contact the school and find out what textbooks they are using and see if you can pick them up ahead of time. Also, see if they will give you a copy of the syllabus that the instructor uses. 

2. If you are able to do that then allocate at least 2-3 hours of study time per chapter in a quiet place. Personally, I usually leave my house and go to the library or Panera bread (it's too distracting at my house); I tell my family "I'm working on a new career". I do not take my laptop because it's easy to get distracted as well; I am there to work! When taking the chapter quiz; don't "circle the answer" in your books; use a separate piece of paper that way you can keep doing the quizzes over and over again and not have to erase the circles.

2a. If they don't let you have the textbooks ahead of time but you have the name of them; just order a set on Amazon and go back to Step 2 above. It's worth it and it's also an investment in yourself! This way you can go at your own pace and be more prepared when you go to the class. When I took my class there were 2 books, one is the general book and the other is state specific Massachusetts. 

The general textbook for my class was "Modern Real Estate Practice 20th Edition"; just saw it on Amazon for $41.00 used. Be careful Not to Order  "Sample Book" for $29.00 but that would be useless; as it is not complete.

2b. Another suggested book would be to purchase an additional book (which I did) for extra test prep was "Guide to Passing the Pearson Vue Real Estate Exam 10th EditionTextbook Binding – 2018" by William H. Pivar (Author). This book has over 1,000 exam type questions and explains the answers.  Again, when taking the chapter quiz; don't "circle the answer" in your book; use a separate piece of paper or notebook that way you can keep doing the quizzes over and over again and not have to erase the circles.

3. As far as studying when the class ends I would suggest to read the book forward 2 times and completing quizzes along the way and then start from the last chapter (or from the syllabus) and go backward 2 times completing the quizzes along the way. It's easy to remember material going forward but going backward also help reinforces the difficult material as well. MATH, MATH, and MATH this is something many people struggle with (like me), make sure you take the time to understand it and practice it for the exam!

4. Sign up for Quizlet.com Quizlet is a free website providing learning tools for students, including flashcards, study and game modes. Type in Modern Real Estate book. Try the 19th edition as not the 20th edition is complete yet. This is a great way to test yourself. If you don't have the same textbook as me type in the name of your book for guidance.

5. Pick up some 4x6 index cards and create Flashcards for yourself; sometimes people learn better when they write things out.

Keep in mind that taking the Real Estate classes in Massachusetts is 40 hours, and in your state of Connecticut is 60 hours, this like the equivalent to college courses and demands your time just like college studies do. In Massachusetts, it would be equal to a 4 credit college course, so in Connecticut, it would be equal to a 6 credit college course.

As much as technology is out there like YouTube with real estate videos; there is no easy way other than "Just Hitting the Books" without the technology is the best way to learn pen, paper, 10 key calculator, your textbooks and allocated study time and quiet space will help you succeed! 

Reach out to me anytime and Good Luck!

@Sarah Buchanan That dog is a danger to the safety of the public. If it gets out again it could attack again and the outcome could be worse. The dog needs to go today. Is the property fenced in? The owner is unable to handle that dog. Needs to go now.

I was looking forward to attending this meetup; unfortunately can't make it. Not feeling well today. Please keep us posted what was discussed and when the next one will be.