All Forum Posts by: Tou Lor

Please share your thoughts on this property:

2,500 sqft home in very desirable Forest Park area in Kenosha, WI. Bi-level, 4 bedrooms and 2 full baths. Open floor plan, tall ceilings, gas fireplace and spacious kitchen. The master bedroom has a private Jacuzzi tub. Upper bathroom renovated with heated floors. 

House remaining balance mortgage of $207,000, monthly payment of $1,617. Taxes yearly $4,738.

What rent is reasonable in this area? Would selling it make more financial sense for this market? Are there any missing key points? Every advice is appreciated.

Looking for a real estate agent near the Joliet, Illinois area to assist in purchasing our very first home.

We are a family of four, pre-approved and are first-time home buyers. Our goal is to acquire a multifamily in a good neighborhood. Patience and friendliness is a plus as this is a first time experience. Feel free to message me for more information. Can't wait to meet you!

Hello BP family. I have been doing some research on where to get my real estate license/broker license (Illinois) and have been considering the ABR Real Estate Corporation for a couple of reasons: at-home courses, low-cost etc. Has anybody have previous experience with this school and their courses? Any recommendations is also welcomed. Thank you in advance!

Congratulations Joshua. I hope to be where you are in a couple of months :) 

@Jake Thomas, your response can be said for any member who asks a question in a forum. This is the reason why BP has forums in the first place. After a search, I didn't find what I was looking for and @Carrie Hiner answered it perfectly for me. I want to let you know that your answer is discouraging, especially for new members like me. BP exist for people to ask questions, people who want to share ideas, success, failures etc and is a place for information. New members or members who don't know much can be easily discouraged by your comment. I hope in the future you reconsider your response if you are truly wanting to lend a helping hand. 

In short, thank you for your response. 

This is a really helpful forum with a lot of good advice as I am also just starting out and plan to become an agent. I'm curious how agents get listings. If we hang our license with a brokerage like KW, do they assign listings? Can we find our own listings and is there a limit? If an agent finds a property or a house to sell, does the brokerage have to approve of it before it is listed in the MLS? Can we list properties we find to sell in the MLS? A lot of newbie questions, but I appreciate the adivce @Maggie L., @Edward B. @Lynn Bown, @Carrie Hiner @Jake Thomas. 

You have a valid point Tom. But what if someone is looking to learn how to fix and flip? Your lesson might have mislead some people if they were looking for a webinar to teach them. You offer good advice and maybe sitting back is the best way for a fix and flip, but I wouldn't suggest just sitting back. Yes, other people's experience can be good teachers, but why not watch them fix it. Why not offer that while they hire people out, they could ask questions, watch and learn and even try in the future themselves to become the fixers and flippers? Action is key. Contrary to your quote, listening to other people's real estate success stories, journeys and failures are great teachers, but it doesn't mean as much as if you were to experience it yourself and learn. Thank you for your perspective.

Thank you for the clarification and the advice. Really appreciate it! 

With the FHA having high Private Mortgage Insurance (PMI) which could possibly ruin cashflow, I saw a forum that recommended using the Fannie Mae Home Ready loan instead. Can you share with me the difference between the two and which one you personally recommend for an owner occupy situation? Thank you!

Welcome! As a recent college grad, your strategy of house hacking is a great way to start - saving as much expenses as you might or might not have student loans. Either way, don't let it stop you!