Donald asks…
Which do you think is a better career, real estate or investment broker?
I’m interested in real estate and I love houses, but an investments broker seems like a more stable job. I am graduating with a degree in business administration (management), and don’t know which I should lean towards. Edward Jones is calling me back in a month to see if I want to start training with them. In the long run I’d like to make enough money to invest in rental properties.
winfallstrategies answers:
Start with Edward Jones. To sell houses you have to go back and get another license. Honestly though, selling homes is different from loving homes. It’s more of a supplement income, not a full-time job.
Helen asks…
Do real estate agents have an advantage in real estate investment oppurtunities?
I’ve been reading up about the science of investment in real estate; specifically condos, vacation rentals. I have met some very wealthy real estate agents in Hawaii and some others that make a decent income like 40k a year.
If I want to become a real estate invester, will it help if I become a real estate agent, broker, etc.
Please, I’m still young and am eager to learn from you the experienced.
winfallstrategies answers:
Any added expertise will help an investor of any kind. Realtors have an advantage because they tend to know the laws regarding real estate, but more importantly they know their market and have access to information not readily available to Joe Blow investor. They are usually members of the local board of realtors and have access to the MLS which offers knowledge of present and past sales and the market trends of neighborhoods. You might not need to get a real estate license to be a good investor, but simply to find a good Realtor who knows the business who can guide you through it and advise you on good opportunities.
Nancy asks…
Where can i find “nothing down” real estate deals in london?
In the London area i am looking for investment real estate for sale by investors, or landlords not by owner-occupiers. I am not a speculator looking for “buy to let” investments. I am not looking for “off plan”. I am looking for a professional real estate investment broker, someone who works exclusively with investors or to be put on a list where i can be informed of properties for sale by investors which i would be able to buy. Thanks in advance.
winfallstrategies answers:
It doesnt matter where the area is, simply buy the property, under market value and claim a 10% for e.g, “Vendor Gifted Deposit” this means for example, the house is on the market for 100,000, and agree a sale at 90,000. Thus you put the sale through on paper for 100,000, but only borrow 90,000 from the lender. They are only lending you a 90% loan to value, so in effect you have put 10% down.
You need to find a lender who accepts a vendor gifted deposit, and explain what you want to do to the agent, they should be familiar. Bear in mind the lender will send a valuer to make sure the figures stack up.
Be sure to get permission from the lender to let the property out, “due to change of circumstances”
As far as i have experienced, it is not that profitable to buy from other “investors” , also, it is what you do with the lender that makes “no money down”…unless you have a lot of tangible assets, in which case you can get a draw down facility on a company overdraft through your bank.
John asks…
Where do I find a list of real estate investors for commercial properties?
I am very good at evaluating real estate opportunities from determining simple cash-on-cash returns to calculating IRR, MIRR, and Financial Management Rate of Return (FMRR) for all income producing properties. I am also an experienced real estate broker and developer. Because of the financial crisis, I see many great opportunities now available for purchasing real estate investments all over the United States.
winfallstrategies answers:
Hi Ranger…
I don’t know about a list, but you can check out and get involved with Bigger Pockets. It’s a social network of real estate investors and you may have good luck there.
Hope this helps and good luck!
Sandra asks…
Whats Better? Becoming a Broker or getting a Real estate License? ?
A couple friends and I have found an apartment building to purchase as an investment. If that works out we’ll purchase more property. Should we form an Investment firm, become Real estate Brokers and get a Brokers license or Real estate license?
winfallstrategies answers:
Aim for the brokers license. Then you can run your own company and be your own broker..
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