All Forum Posts by: Marvin Anaya

If a vacationer is injured (God forbid) you can potentially be in a heap of legal trouble if the basement isn't up to code/living standards. Just my two-cents.

Marvin

1 Vote

Originally posted by @Brie Schmidt:

@Marvin Anaya - IL is a broker only state. So to sell real estate you have to start as a broker (agent in most states) and work under a managing broker (brokers in other states) for at least 2 years before you could qualify to be a managing broker.

I like this school https://www.instituteonline.com/

Brie, you've brought some clarity to all my confusion. Thanks a ton!!

0 Votes

Originally posted by @Brie Schmidt:

I like this school https://www.instituteonline.com/

Brie, you've brought some clarity to all my confusion. Thanks a ton!!

0 Votes

Originally posted by @Wayne Brooks:

You have no choice, you have to start as agent, working for a broker. After a number of years you would qualify to get a broker license.

Thank you for the answer Wayne, I appreciate your help!

0 Votes

Hi BPers!

I can't seem to find the answer to this question anywhere:

I am in Chicago and want to buy & hold as well as wholesale. Which real estate license(s) do I get? Agent? Broker? Also, can anyone in the area recommend a good school? Thanks!

0 Votes

Originally posted by @Robert Obniski:

Originally posted by @Siraj Ahmed:

@Robert Obniski have you done other deals since these two?

Sorry I never got back to you on here but Yes, I have one currently listed in Addison. I had the same buyer back out twice on that one. Listed for about 2 months now, getting antsy.

I also just put a 2 bed 1 ba sfr under contract here in Lombard. This one is going to be tricky as its my first SFR and a little out of my criteria as far as 2 bed 1 bath. Comps are there though.

Hi Robert,

I read through your whole success story and I congratulate you on two jobs well done! Your story inspires me to keep digging in the MLS for deals. Keep it up, can't wait to see how your 2br/1b turns out!

Marvin

0 Votes

Hi BPers !

I'm a first time wholesaler, and I have set myself a goal of finding my first wholesale deal WITHOUT the use of a yellow letter/mailer. I'm in the Chicago market and I have a ton of ideas on how to do this.. I'll report back on my successes/failures.

Cheers,

Marvin

1 Vote

Welcome Dede ! I would first learn how to analyze a deal and then analyze deals in an area you are familiar with such as Chicago.

Then I would post on BP asking if the deal you found and numbers you ran are a good deal. This will provide valuable feedback.

Once you feel comfortable analyzing deals, I would start researching anything and everything about wholesaling. Forum, podcasts, etc.

0 Votes

I appreciate all of your input !

I may apply for a 2nd FHA loan, but reading all of your comments makes me think twice about trying for more than that. Thanks!!

0 Votes

All Forum Posts by: Marvin Anaya

Marvin Anaya has started 10 posts and replied 46 times.

Post: Chicago House Hacking Frustration

Post: Chicago garden units as vacation rentals

Post: Which RE License Do I Get?

Post: Which RE License Do I Get?

Post: Which RE License Do I Get?

Post: Which RE License Do I Get?

Post: Closing on first flip, 2nd flip under contract - Chicago land area Dupage county

Post: Wholesale Without Letters

Post: Newbie from Chicago

Post: Unlimited FHA Financing