All Forum Posts by: Account Closed

Hello All, I am looking at acquiring a buy and hold rental and hoping to find something that breaks even or cash flows within an hour of Denver so I can manage it myself. I realize this may not be easy. I am going to start looking in Greeley. Would love to hear some other suggestions and also open to finding a broker/lender who can help me in this process. 

Thanks!

Hello BP,

I am going to be getting my RE license through VANED (unless someone tells me there is a dramatically better option). After I get my license I am planning to interview at several brokerages and see which one will work best for my situation. What is a typical split offered by the big brokerages? I will be purchasing multiple properties with an investor I have partnered with and am wondering what percent of the commissions I can plan on sharing with the brokerage? We will be mostly using a buy and hold model so I do not anticipate making a lot of sales but will be a purchasing agent on many deals.

Thanks in advance.

Thatcher Glode

Hello BP,

My partner and I are planning on buying and holding multifamily properties in Colorado. We are trying to figure out where to buy in Colorado. We are planning to buy multi-family units and are trying to find things as close to neutral or positive cash flow as possible (we are aware it can be difficult to find cash flow positive deals in CO at the moment with high property values and rents that don't equate)- So... our plan is buy properties that may need a little work, put in the work, bring rents up as much as possible, find quality tenants, and repeat. Questions:

What I don't understand is whether I even need a real estate license to write offers or if that is only required for selling properties? 

If I don't have a license how do I learn the process and paper work for writing offers? 

If I were to gain a license would that allow me to sell properties on my own or do I need to work for a brokerage? I realize this is a ton of questions and I am brand new. 

Say I found the right duplex for us to start after running the numbers on BP tools based on Zillow estimates, I saw the property and thought it was a good fit, the loan was approved, if I don't have a license how do I find the paperwork and legal forms needed to write an offer? Do people reading this think I should do a program and get a RE license regardless?

Thanks for any assistance.

Hi Teri,

We are trying to figure out where to buy in Colorado. We are planning to buy multi-family units and are trying to find things as close to neutral or positive cash flow as possible (we are aware it can be difficult to find cash flow positive deals in CO at the moment with high property values and rents that don't equate)- So... our plan is buy properties that may need a little work, put in the work, bring rents up as much as possible, find quality tenants, and repeat. What I don't understand is whether I even need a real estate license to write offers or if that is only required for selling properties? If I don't have a license how do I learn the process and paper work for writing offers? If I were to gain a license would that allow me to sell properties on my own or do I need to work for a brokerage? I realize this is a ton of questions and I am brand new. I might start a new thread with the above questions unless someone might be able to help answer them for me.

Thanks in advance for any help and ideas.

 Thanks! I will check these out. I messaged Grace as well- my main question is would folks feel equipped with the skills and tools needed to write offers in a very competitive market coming right out of whatever program they chose to get licensed?

Hi,

I am working with an investor to acquire residential properties in Colorado to buy and hold. I am going to serve as our agent. Does anyone have recommendations on the best place to acquire my license and a program that will prepare me to effectively negotiate deals, paperwork, etc? Are there real estate agencies I could work with that would sponsor my licensing? 

Thanks in advance.

I have been running some numbers on potential househacks of a duplex or triplex... how do I account for my share of the rent for the unit I will live in when determining the profitability and cash flow of the house hack. I presume I just charge myself market rate?