All Forum Posts by: Rick Novotny

Hi @Pedro Blas

I suggest jumping into some education if you haven't already. This includes books, podcasts, and forums. You'll want to start learning so you can ask specific questions. My favorite way to learn about this stuff is to hear other people's stories about how they did it. The topic of real estate investing is quite broad so this post would be very long without some guidance on what you have questions about. Always feel free to jump into conversations here on the forums. Everyone is extremely helpful!

@Allen Wu

There are plenty of great areas here that cash flow well. I have seen great appreciation on my own portfolio over the last couple of years.

Let me know if you’re interested in exploring properties in the area!

@Stacey So

The KC market has been amazing for both myself and my clients. The market is very hot here and the good properties are getting a lot of attention.

If you’re interested in purchasing here let me know. I have all of the connections you would need to build a portfolio here.

Hi Alex,

This is a commission based career, meaning we eat what we kill. When you sell a home you are compensated, typically, based off the gross sale price (could also be net). The commission is normally 3% for the buyer broker and 3% for the seller broker. It varies broker to broker, but you might get anywhere from 50%-100% of the commission that goes to your broker.

Keep in mind that basically everything in real estate is negotiable, so the numbers above are just typical and some areas have different standards.

@Bryce Fowler

I do both and still work another unrelated full time career as well.

@Hiram Lopez

It really depends on the area. Zestimates are fairly close on some of my properties and way off on others. Appraisals are way more accurate.

@Stephen Brown

Just tell your story! Investors love working with investor agents. I’m similar in the fact that I built a portfolio of 21 doors prior to becoming a licensed agent. My calls with investors are a bunch of fun talking about my portfolio, their portfolio, and just real estate investment in general.

@Eric Shiva

Most lenders are going to require 25% for your first investment purchase. You might be able to do 20% with the right lender. It’s harder to find lower than 20%, but it is possible.

@Amanda Bruneau

I built a portfolio of 21 rental units in Kansas City while I was living in Denver and working a full time, unrelated career. I’ve since moved to KC to also be an agent out here.

Building a long distance portfolio is really no different than local with the right property manager. Even though I live here now, I never visit my own properties and I still have no relationship with any of the tenants. Even the duplex I live in right now, I don’t know my neighbors but I own the place.

In short, find the right team and you can build a portfolio anywhere.

By the way, If you have interest in Kansas City, let me know. I am an investor agent with everything needed to start a portfolio including a management company with over 1,100 units under management.

Hi @Mark Amaral

Real estate is a pretty broad topic and there are a lot of different niches. I suggest reading real estate books, listening to podcasts, and simply asking questions on the forums. This is a very helpful community so always feel free to jump into the conversation.

You're going to want to start to narrow down what you want to do in real estate because no one does it all. The best way is hearing other people's stories to see what works best for your situation.