All Forum Posts by: Kirk R.
Kirk R. has started 69 posts and replied 925 times.
Post: The TRUTH about the economy and investing
- Peoria, IL
- Posts 967
- Votes 383
Originally posted by @Joseph Cacciapaglia:
Nassim Nicholas Taleb's Incerto series is a must read, if you really want to understand how the world works. If reading it doesn't change the way you operate your business and your life, then read it again. He cracks the code on "how not to be a sucker".
daang you! my reading list keeps expanding.
if you were only gonna listen to one of his Audible books, which one? seems like reviewers either loved or hated his books.
Post: Property Management Entrepreneur
- Peoria, IL
- Posts 967
- Votes 383
Originally posted by @Vanessa Regalado:
@Maliq Hill I am the owners of a property management company for 13 years.
1) You need to be a licensed salesperson and eventually broker to be a property manager. While you are only a salesperson you need to work under the license of a broker that is open-minded to sponsor you in your business. Most brokers are not open to this idea due to the liability involved.
2) Experience matters- This is a business of experience and really loving what you do. If you are going into this business solely to build relationships you might struggle to find the motivation to keep running the business. The business requires a vast knowledge of landlord-tenant law knowledge, discrimination laws, basic construction, accounting etc
3) I don't recommend starting this type of business without E&O Insurance. It gets expensive at the beginning anywhere between $3500-$5000 a year based on the answers that you provide to your broker.
As my final comments and recommendations are to go and work for a property management company for a 1-2 years before you open your own. While that you get your real estate license and accumulate the years needed for your broker's license.
This business is tough and you need a thick skin. There are a lot of great tenants out there but there are also many that will push your buttons and you must be knowledgable on how to handle them without getting yourself in a lawsuit. My recommendation is to work directly under a mentor or real estate investor to build your network and learn the business area that you want to focus.
Good Luck!
e&o seems expensive at $3,500 to $5,000? $300-$400/month?
I thought getting started it would be around $500/year.
Post: Tips on starting out for Broker Price Opinions
- Peoria, IL
- Posts 967
- Votes 383
Originally posted by @Ashish Gupta:
Looking for tips on getting Broker Price Opinions. I have a list of companies that i want to reach out to and can use some ideas on how to propose myself as the right agent.
Work in Atlanta Metro area (Sandy Spring, Marietta). Any leads on companies that are looking for agents for BPO in warm south?
Thanks Much!
Ash
i used to do them long time ago. were bit of a pain. & didn't pay very well. Are they more profitable these days?
Post: I really want to know how to perform market analysis?
- Peoria, IL
- Posts 967
- Votes 383
i think Realtors track what you're asking. but, I'm sure they try to put #s in most positive light.
Although I'd be interested to learn more also.
Maybe If Walmart puts in a store, they expect that area to grow & Walmart did all research for you.
My cities population is decreasing. & the main employer seems to be slowly leaving. but I still am looking at Real Estate here. maybe doesn't make too much sense.
Post: DEA Raided My appartment, Now What!
- Peoria, IL
- Posts 967
- Votes 383
Drop her by a few groceries? talk to her see if she has some crack or what going on.
is she on the lease?
gotta be tough losing her bf. although she maybe didn't have real healthy relationship.
Post: Part-Time/Gig/Contract jobs with a Real Estate License?
- Peoria, IL
- Posts 967
- Votes 383
Assuming you need E&O insurance for any side gigs?
Originally posted by @Tchaka Owen:
Originally posted by @Kirk R.:
this probably varies alot but...
How much do Realtors make for referring a buyer/seller to another Realtor?
30% of whatever the realtor that gets the buyer/seller?
30% of 1.5%? 0.45%? so on $100k house $450? Or?
thanks
Generally 20-25% of the gross commission.
thanks.
is this right then? thought it would just be either on buy side or sell side depending.
$100,000*6%*20%=$1,200?
probably this:
$100k*3%*20%=$600?
this probably varies alot but...
How much do Realtors make for referring a buyer/seller to another Realtor?
30% of whatever the realtor that gets the buyer/seller?
30% of 1.5%? 0.45%? so on $100k house $450? Or?
thanks
Post: Including Applicants Mileage as part of monthly Gross Income?
- Peoria, IL
- Posts 967
- Votes 383
if they drive a Toyota then yes otherwise no.
Post: $10,000 SBA Loan / Grant
- Peoria, IL
- Posts 967
- Votes 383
data point. applying 0 employees.
4/2/20 applied
4/14/20 letter
4/26/20 hard credit pull (NameUS SM BUS ADMIN ODA)
Hopefully next data point is some money! gl all