All Forum Posts by: Peyton LaBarbera

I am trying to start a career in property management and was wondering how to start out. I have heard that some people don't get anything and find a job, some have gotten their real estate licence, others just an associates degree, and finally others have gotten their bachelors degree.

So my question is to those who are either current property manages or those who are retired property managers, what kind of education did you get that was either required or helped you get a job in property management?

Thank you!

I was wondering if when I buy a property at the auction and the right of redemption period is let's say 6 months can I sell the property once I have finished my renovations (fix and flip exit strategy) or do I have to wait until I am in full possession of the property after the redemption period has ended in order to transfer the deed?

Thank you to all who reply

 The deposit based on the winning bid makes the most sense in my opinion too, thank you again for all of your helpful insight.

@Kevin Sobilo, to clarify does the reserve price simply mean the starting bid or is it the winning bid?

CT is where I am located and for this state it's 5% EMD and the rest no sooner than 21 days but no later than 30 (that timeframe is when the closing process with the seller/borrower will take place)...But since my state has a judicial foreclosure process and every step must be court-approved I just wasn't sure if I have to put down 5% EMD before it gets approved or after

(I want to note that the clock for the 21 to 30-day timeframe to close doesn't start until the court approves the sale) 

 I was talking about on the courthouse step auctions (foreclosure auction not foreclosed auction)...I don't need an exact I just need an average as this isn't for any current deals just taking notes

At which point in the foreclosure auction process (Let's say once I am the winning bid on the property) do you have to put down an EMD?

And just checking, is the EMD requirement for foreclosure auctions 5% of the total reserve price?

Thank you.

Thank you for replying so fast I really do appreciate that but I just have one more question, you probably didn't see it because I edited the post right after you replied to the unedited version but here it is... 

Can you buy a property before the auction date or is that auction date a set in stone one and done day available for buying that property?

Thank you again Ken

 What happens when the bank wins the auction... does it go onto the mls as an reo property?

Some other questions I have... Can you buy a property before the auction date or is that auction date a set in stone one and done day available for buying that property? and... Does the bank always win the auction or do they have a max bid that they are allowed to go up to?

What are some of the differences between all three of these types of properties?