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3 Bedroom, 2 Bathroom, House & Lot. Swimming pool with water fall, 130 ft water well, 2 car garage. Outside dirty kitchen, small fish pond.

George asks…
I am currently attending the University of Western Ontario to obtain a Bachelors degree (in my second year). This summer (and the next summer) I want to attend OREA (Ontario Real Estate Association) to get my real estate license. Is this all I have to do to become a real estate agent? Do I need other experience, and what else can I do to guarantee that I get a job in the field?

You have to eat a whole baby in 3 minutes.

Susan asks…
I was wondering what the difference was between a real estate broker and a real estate agent? How long would you have to go to school to be either one?
I pretty much got my answer to this question. Can a real estate broker act as both a broker as well as the agent? I plan on starting my own realty but want to do both jobs.

As a real estate agent you have to have your licenses held by a real estate broker you are not allowed to do anything in your own name it has to be in your brokers name or the company’s name.
To become a real estate agent you have to be at least 18, take the class and pass the state exam.
To become a real estate broker you have to be an active real estate agent for 1 year take a class and pass the state exam. After wards you can do anything that you like in your own name. You can even open your own real estate business

Richard asks…
I’m thinking of majoring in real estate and had a few questions for this job. What are majors required to become a real estate agent? Are there any colleges that specialize in that major? How about the required degrees? How many years of education will it take?
I also live in California to be specific.

You attend classes for 1-3 months at a “licensing” school. When you pass their test, you take the state test. You pay a fee to the state. You interview at realty offices. You choose one. They train you and you go to work. No education required. THink of Bill Gates; he dropped out of school..

Robert asks…
How much schooling do I need. Do I need to work for someone else after I am done with school and take a test? Is there a difference between agent and broker? I am at a crossroads and am considering real estate here in San Antonio.

There are dozens of real estate schools and any of them can help you estimate how much school you need. Some college hours count toward this.
Yes you will need a broker to work with- a company. The broker is the one that actually teaches you how to be a success in the type of real estate you want to practice. The school is very general and helps you pass the test.
An agent is able to practice real estate while they work for a broker. A broker can work by themselves. To be a broker it requires that you have been an agent for a while and have taken another test.

Ken asks…
Current commission structure in Singapore (based on sale/rental value) provides no motivation for a real estate agent to maximise the interest of the buyer. This is because higher the sales/rental value higher will be his/her commission. What can we do to change this?

We had a similar system in the U.S. Agents were representatives of the sellers and were required by law to support their interests. Now we have a system whereby agents can be trained and qualified to work as buyer’s agents.
The new system allows agents to represent the buyer on all listings other than his own. The agent only earns a commission when he sells, but is no longer motivated to sell only his own listings. At the same time, the buyer signs an agreement stating that he will work solely with that agent to find a dwelling unit for the term of the agreement.
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Laura asks…
I know of a wholesaler that sales cute, trendy home goods. They have a huge supply and I know this stuff sells. TONS of people buy it and sell it but I dont have a store. Will people buy that sort of stuff on the internet? Not on an ebay store but an actual web site.

It really depends. Its about the packaging the quality ang even the name of the store. One more factor for it to sell is it should have a competitive price.

James asks…
i am thinking about selling home interiors, does anyone sell it? and if so how much do you make at it? I just want it to be worth my time!

Yes depending on where you live their is a lady in Tripp SD Tammy Fisher who sells alot of home interiors and is quite good at it and does well, she does alot of book sales, craft shows and individaul homes.

Helen asks…
My real father died without a will. I havent heard from him in 25 years. He and his second wife owned a home together, and my grandmothers property(my fathers mother) has been put in the second wifes name at some point. I now own 1/8 of these properties due to the fact he didnt have a will and they have 4 children together or by first marriages,and want to know if the stepmother has to sell the properties to pay me my portion if I request it.She lives in the house they owned together, and my grandmothers property is either rented or not lived in. Can I make her give me my part?

The law of intestate succession is very specific. In any case where a married person dies without a will, an executor will be appointed by the court to settle the decedants debts and distribute their property. Of course, a family member could petition the court to be appointed as executor, and it would be ok unless some conflict of interest was raised.
That being said, the general rule is that the surviving spouse gets one half of community property and all of her separate property under rules of intestate succession. The remaining half of the community property is supposed to be divided equitably between “all surviving issue of the decedent.” That means children born to him, whatever his marital status was at the time.
Even a child born out of wedlock is in most cases entitled to claim an intestate share of the estate during the probate proceeding.
You say the property was “put in her name.” Exactly how was that done? Because there is a legal document called a transmutation which allows a person to waive their interest in a
community asset and transfer it to their spouse. If that was done,
then the asset is the sole and separate property of his wife and not subject to division by a probate court. How is it that you own 1/8 of the property? If you have documentary evidence that some portion of title to that property was transferred to you, be sure to appear at the probate hearing and present your claim. If your father was incompetent at the time of the transfer, you could have a basis for an undue influence claim, and generally what that will do is negate the portion of the document concerned in the undue influence. In this case, the title transfer.
The way to proceed is to appear at the probate hearing and present your claim. I would suggest that you visit your local law library and research the rules of intestate succession before though, because the rules may differ in your state.
One other point, his widow may get the majority of his property, but at the same time she is responsible for all of their joint debts.
As far as the house goes, it depends on if there are enough other assets in the estate to cover his final debts and expenses.
That would be established in an accounting during the probate process.

David asks…
I’m putting my Condo up for sale, prime area in Studio City, CA (appraised value aprx 725K) in order to sell faster, should I offer closing costs or reduce price? (it ends up being the same) Homes are taking much longer to sell, market’s slow, Any good ideas? Thanks!
I’m the first owner, new property, 2 years.(everything’s new)

When was it last appraised? Was the appraisal inflated or fair? Have you listed it yet? Will you list it with an agent or sell it yourself? If you list it with an agent, do your homework and find a highly recommended and experienced real estate broker who REALLY knows his/her stuff AND the area you are selling in. If you need one, I can ask a friend in the area who may know one. A good agent will be able to tell you exactly what the market is doing, how much it will sell for and by when and what it will take to sell it (price reductions, staging, new paint, etc). If you dont list it with an agent, let me know. I am an investor who works with for sale by owner properties in CA and I live in San Diego.

Chris asks…
do I need a permit if i am going to send out catalogues with order sheets to houses around my area like avon does and sell my home made cosmetics? I have a brand name too and im not sure if that changes anything!

If something happens…the FDA will eat your shorts…
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Maria asks…
I don’t seem to find exactly what I’m looking for. Are all homes that are for purchase found online or do you have to contact a realtor to actually find one you want?

No, not all, and no complete listing can be found at one site.
Trulia.com realtor .com are the two most comprehensive, and then also check the major brokers websites in your area (prudential, ERA, etc).
Then you should find 95+% of the listings.

Lizzie asks…
I’m trying to find old homes for sale in Chicago, whether they be lofts, flats or anything else. I’m looking for old hardwood floor vintage Chicago charm and want to know if there’s any websites out there specifically for this. I’ve looked at typical real estate websites like realtor.com and such but there’s so many to choose from! Please help!

Houses for sale are not usually categorized by age. This seems like the kind of thing a realtor could help you with. These days, realtors are not quite as busy as usual so you might want to find a good one and ask them to help you find what you are looking for.

Mandy asks…
I have been looking at homes for sale online and see many houses listed for $2,000 to $10,000. How can that be? What does it mean when homes are listed for just a couple thousand dollars?

IN addition to being run down or in bad neighborhoods, some sites also list rentals and that $2,000 would be the rent for a month. Only way you can know for sure is to give the real estate agent a call.

Carol asks…
I’m from delaware and we use delmls.com it is a website that lets people and realtors find homes for sale, under contract, and already sold. I can’t find the main mls for north carolina.

Actually, I use http://www.realtor.com and use the Map function to pick NC, and go from there. Excellent site although sometimes a little bit slow. It only has homes for sale, not already sold.

Ruth asks…
We are first time home buyers in Nebraska. We are looking at a house that is short sale and were wondering if the seller usually pays closing costs for the house?

Of course they will pay.
If you wanted to pay $200,000 for a home you would offer $205,000 and ask that seller pay $5,000 in closing costs.
It is all the same to seller. They received a $200,000 offer. No one cares how it was structured.
The buyer’s lender will restrict the % of closing costs that can be paid by seller.
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Ken asks…
I currently have good credit I would love to learn how to make more money.I contacted the real estate instition abouty finding a mentor to show me how to make money the cost 4 the mentor is $3775. but he is sugesting that I start out buy getting credit cards using them to purchase properties then transfer the balance from credit card to credit card if they don’t sell fast every 30 days. is this okay I don’t want to ruin my credit. I just want to be able to make money.

The people that you are talking to are thieves. They are out to steal your money and nothiing more.
They will ruin your credit with that advice.
If you really want to learn how to invest in real estate, I recommend that you first become very good at determining the fair market value of a piece of real estate.
I recommend that you contact The Appraisal Institute and tell them that you waould like to learn about real estate appraisal and that your ultimate goal is to earn the MAI (Member of The Appraisal Institute) designation.
Take all of the training classes and go to work for an appraisal firm that is owned by a Member of the Appraisal Institute. Earn your MAI designation. At that point you are ready to begin investing in real estate and you will be able to invest successfully in real estate for the rest of your life, especially if you keep your credit good.
The characters that you are talking to will steal your $3,775, destroy your credit and teach you nothing about investing in real estate. And to make things even worse, you will not even make any money with those characters. You will lose money.

Betty asks…
I currently have good credit I would love to learn how to make more money.I contacted the real estate instition abouty finding a mentor to show me how to make money the cost 4 the mentor is $3775. but he is sugesting that I start out buy getting credit cards using them to purchase properties then transfer the balance from credit card to credit card if they don’t sell fast every 30 days. is this okay I don’t want to ruin my credit

I would spend 20 bucks 1st on Real Estate for Dummies by Eric Tyson. This will teach you most of the basics. With the real estate market struggling, why would now be a good time to get into it??
When you buy a property, you need to fix it up, and flip it relatively quickly. Otherwise your profit and your capital will will be eaten up very fast making monthly mortgage payments on a property you can’t unload.

Linda asks…
Im young and willing to do anything to get into the real estate business. My dream would be to buy properties and rent/lease them or to buy, get some work done to them and sell. I know I need money in savings to do what I dream to do but Im willing to do whatever. Is it best to be a realtor? That way I can learn the ropes and make money to save. If thats the choice how do you go about that? Real estate classes? Im looking for answers about that are pretty general and relate to real estate and being a realtor. Thanks!!

I am not an investor per say, but I have made a few bucks flipping houses in my spare time. I think your first hurdle would be to get enough money to buy a house. Then everything from there is pretty easy. At least is it for me anyway. I don’t have any formal education regarding this either. It’s all pretty basic really – -
Buy ugliest and smallest house in a nice area or an up in coming neighborhood.
Fix it up – cosmetic fixers are a good start.
Turn around and sell it for much more than you bought it for. Don’t use a realtor – selling a house is not hard. All a realtor does is find a buyer, and you can do that easy. Title, insurance, and escrow takes care of all the “hard and technical ” stuff.
Viola! You just made a bundle. Now turn around and use that money to buy another house. Lather, rinse, repeat.

George asks…
So I can go on about my life, but I want this answer.. i’ll just get right to it. I am a newly licensed real estate salesperson. But my goal isn’t really in this state, or being an agent for more than three years… and it’s not about the market, Im just a little anxious. So listen, I got the license because i want to get into investing, I want to flip houses and then be able to sell them myself, access to the market, etc. I already have partners in mind, whom after a few words are very interested in joining me. I know a ton of people in the construction business, landscaping, you name it. What I am having difficulty in, is finding a company where I can be an investor or even an assistant to learn the ropes. Is it true a license is not going to cut it, and I need to go to school for some crazy business degree or something.
Can anyone help me with this, I’m mostly looking for advice, no links to investing on my own, I have zero dollars and I want to invest WITH money.

I’m a little confused also by your description of your situation and what you’re trying to accomplish but I’ll give it shot. First, you do not need a degree of any kind to be a real estate investor. You do not even need a real estate license. You do however need to be very knowledgeable about a whole range of things from market conditions to financing–both conventional and creative. And, if you are doing this with other people’s money, you are going to need to get some solid experience under your belt in order to be credible.
You might try to specifically cultivate an investor clientele as a real estate agent. But, alot of investors don’t use agents. Many of them feel that they don’t need a realtor and they don’t like paying those pesky commissions.
I do not know of a real estate company–major or otherwise, that is going to specifically mentor you or nurture your aspirations of becoming an investor. Becoming an agent or eventually a broker yes–but not an investor. That’s your own business. Alot of agents do invest in real estate on the side. But, there’s no position that would be the equivalent of an apprentice investor in a real estate agency. You will need to look outside your agency to get mentoring in this area.
I would suggest you see if there are any real estate investment clubs in your area. You’ll make some good contacts, probably hear some good speakers, learn a few things you didn’t know and perhaps even find a mentor. Here’s a link to a directory where you can find out if there are any groups like this in your area. Http://www.creonline.com/real-estate-clubs/index.html
Good Luck.
*Edit – I just realised after I answered this that maybe you were talking about managing the real estate investments of a major company like say McDonald’s or Wal-mart. If that’s the case, you probably would need a finance/business degree of some type.

Mark asks…
I just signed up to take the class and the test in N.C. I am interested in learning more about the field and I would maybe someday like to make some $$$ off of selling real estate. It this even worth doing? Any suggestions, warnings, recommendations on where to get a paying gig after the class & test?
Ok….. to the Realtor railing me in the 2nd response: Yes I own a home and I currently work in the real estate field with a property management company that also has divisions in sales and rental. So with that being said, I am taking continuing education classed required by my employer. I did not just wake up this morning and decide to pay for a class. Geez. I did not watch Flip that House or whatever BS tv show you are thinking of.
Also Jerrold J, if you are going to quote my question, at least make sure that it is something I actually typed in the question instead of making your own quotes up…..

The classes and tests to become a licensed agent are not nearly difficult enough. The hours and classes needed to become a broker are much more in depth; however, most people who sell real estate are not brokers. They will explain the difference in the class. Real estate can be a good way to make money; however, in this economy it has become increasingly difficult. Most people who sell real estate work entirely off of commission. They do not get paid unless they sell or lease a property. If you have a college education or experience in marketing or administration you might take the classes and then try to get a job as an office manager or marketing support person at a commercial real estate office. Where I am from these jobs pay between 40,000 and 60,000 per year and you will learn more about the business so that when you do decide to lease/sell real estate you will have the connections and knowledge to do so. Another good way to work yourself into the business is to take a salaried position with a developer. Many developers have agents that work directly for them and receive a small base salary + bonuses/commissions when they sell or lease a property. The classes only give you a small overview of residential real estate and even the people who pass the test with flying colors go out into the field having very little idea what they are doing.
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Mark asks…
I am a real estate investor and am looking for a experienced real estate agent as well as a real estate broker who specializes with investors. Can anyone please tell me how to find one, I have googled, ect and haven’t come up with much.
Thank you.

You have to join a real estate investment group AND BE ACTIVE!
In your areqm there may be a landlord association or a real estate investment group.
Its up to you to do your homework.
You cuold call a few offices to make an appointment to look at some property OR tqke one or two out to breakfast or lunch.
OR you could go for a little ride in your neighborhood or area. Look for complexes and the names of those offices managing them.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!

Charles asks…
I wasn’t sure how to word the question but I was just wondering something.
We are moving in November or even sooner and we are wanting to pay cash for a house. We are on a limited budget but I know how important a real estate agent is in our search for our perfect home. My question is, do we pay the agent separately from purchasing the house? Is the agent‘s fees included in the price? Or what?
Thanks.

No, you will not pay them anything.
The seller pays them a commission (usually 3%) at the time of closing.
The agent has to not only find you a house, but help you get the sales process completed.
If you are moving in Nov you need to start looking right away.

Susan asks…
Found a place I want, the sellers agent showed it to me, decided to make an offer and called my agent. The sellers agent than called back and said he won’t take an offer from an agent other than himself. He works for a large real estate company.
Is this legal?
I’m not comfortable with it – it sounds fishy!
This occurred just outside Vancouver, BC.

The answer is no. All offers must be presented in my state. So I am told many times. That is how I have made some great deals.
Had one agent said would take nothing less than 95% asking price on an open house. I gave 85% first offer, and told it would not be presented. I later bought the house for 80% using a diff agent. First agent was almost fired, when I told the owner at closing what happened.
Maybe I should have kept my 2 cents out of this.. Or should I say Loony LOL.. Being from the lower 48, and knowing that they do things diff up there LOL
GOD SAVE THE QUEEN

Mandy asks…
How is a relocation specialist r/e agent different from a standard agent?
I am moving to a new city in a short amount of time. I need to find temporary living and then will be in search of buying a home. Should I expect either type of agent to help me find temporary housing for my family? What should I expect out of my real estate agent throughout my move?

A relo specialist is one who has the experience to anticipate your needs.
They should already have been asking questions about where you will be working?
How far do you want to drive to work?
Are you concerned about particular schools or needs for the family?
What is your lifestyle like now?
What do expect to change as you move?
Are the kids involved in extra curricular activities? Soccer? Scouts etc and be able to get you information on everything. Simply everything. They should be able to give you e-mails of current listings now! And links to sites on every single thing you have already discussed and perhaps some you haven’t. You should already have local maps of the area, information on schools and their offerings perhaps comparisons. If you have children it matters? Ask about the increase and decrease of prices of homes in the area. They should be wise enough to ask you”How long do you plan to stay in this property?” It gives them an idea on types of financing that you should consider or not. They should be able to help with various lenders etc. If your company is relocating you they should know enough to ask what the company might be doing to help with the move. There are short term housing companies almost all over the country now and they should be able to get you situated quickly and understand your need to get comfortable before making a big decision. This may seem to ramble but, there is so much. Good luck and be patient with yourselves as you take on this new step in your life!

Ken asks…
I want to become a real estate agent. I know it is a bad economy but people still need house. What are some good states in need of people needing houses and what does it take to be a real estate agent. Thanks.

You must be trustworthy because you will have keys to strangers’ houses. You must be upbeat in personality because there will be many disappointments. You must be punctual since people will be relying on you.
You will take people out looking at homes for sale. They will choose one and make an offer. You will write the offer. If it is accepted, you will hand them the keys in 30 days. They will tell all their friends about how nice you were. The friends will buy houses.
There is no state where sales are great. Stay where you are and get to work.
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Sandra asks…
would I need some kind of license to sell home made cookies on e-bay or to post an ad in the local classifieds? I live in NV
thankx

Who the hell told u that a lot of people do its not illegal it is perfectaly legal

Carol asks…
But what about a partial interest rate fix say 50% fixed 50% variable. Does that still leave you unable to redraw, refinance and sell home without the exit fees ?

Are you frustrated in life? You think all is lost? No hope from any where? Well i have a good news for you all today, is a privillage that you met the right person. I’m a well known Man which every one knew me to be. My name is Micheal Lancer, i am money lender i assist people financially, because i think enough of all these bankrupt and montages I’m hearing. I want to prove my self to everyone at there. That not everybody are equal.
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Thomas asks…
We are currently paying 23% more than national average for our mortgage and our equity loan. Sell home to downsize mortgage? We really want to build up our 401K, IRARoth, emergency funds, etc. We were laid off 4 times in 7 years and used 401 and equity to pay for home, etc. We love our area but need to think of our future. Any advice or your stories would help! Thanks!

Don’t compare your mortgage to the national average.
You need to compare your mortgage to your own income to see if it’s too much.
A general rule of thumb is that your mortgage shouldn’t be more than 25% of your take-home pay (33% if you want to stretch)
If you’ve had to tap into a 401K, then I think you have too much in retirement and not enough of an emergency fund (cash in the bank)
I suggest the Dave Ramsey approach, here’s his plan in detail:
Step 1: Get a $1,000 baby emergency fund.
Step 2: Pay off all the debts.
Step 3: Finish the emergency fund (6 months expenses)
Step 4: 15% to retirement
Step 5: College fund
Step 6: Pay off the house
Step 7: Enjoy being rich.

David asks…
I am an electronics student in India. I am thinking about earning some money by selling the products that I have created myself in my home, eg. toys, smart lamps, etc. at a very low price.
Can I really do like this. If yes, how should I go about it. Any help will be greatly appreciated.

If you have a homemade product specialty and are looking for extra money, consider selling your item. Hobbies like knitting, baking, jewelry making or sewing lend themselves to product sales.
If your friends and family often compliment your handmade things, or if you often get requests to make them, you are on the right track. With a little marketing, you can earn extra income right away.
1. Determine if there is a market for your items. If your item is one of a kind and solves a need that no one else is meeting, you have a market advantage.
2. Identify the type of person who is interested in your product. Again, tap your social network to see who is most attracted to your item.
3. Find out where your target market shops. Do they purchase things online? Are they bargain shoppers, or do they indulge in luxuries? Once you’ve answered these questions, you can determine where to sell your product.
4. Decide where to sell your products. Places to market homemade goods include local craft fairs, holiday markets, e-bay and Etsy.
5. Set a price for your item. This is perhaps one of the hardest parts of marketing a homemade product
6. Package your product professionally. This doesn’t have to cost a lot of money.
7. Sell your product. If you’ve decided to sell online, follow the site’s directions and always use a photo to generate interest. If you are selling at locations in your community or through word of mouth, set up a selling routine that helps you stay organized and fulfill orders.
8. Provide ongoing marketing support. Use low-cost advertising or get the local paper to write an article for free.

Laura asks…
Do i need any sort of licence to sell home made cosmtics in the UK?

You would need some sort of licence, and you would need public liability insurance to cover you in case of allergic reactions etc. The law on product labelling is quite strict too. Speak to Trading Standards – they may be able to offer you some advice and point you in the right direction.
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Mandy asks…
I have started learning about real estate investing and I’ve been searching for properties online. I called an agent (that works at one of the top real estate companies) and left a message for her with a with a question about a property. That was 2 days ago and she hasn’t called back. I feel this is unprofessional. Does she care to sell the place? Or are agents just really busy? It’s making me want to deal with another agent instead of her.
Also, I called a mortgage banker at Chase and he never called me back either.
I don’t understand why people don’t call back. Is this common?

Wow, neither one of them called you back huh? While they should’ve called you back within a few hours, they are very busy. I’m in the Real Estate business, however I do call my clients back within a few hours.
Two days is a long time, you should call her office ask to speak to a manager, and ask if this generally takes this long, or if anybody cares to sell that property, but you should go else where, because if this is now, and she/he does not care about returning an important phone call, then you’ll likely have some trouble closing your transaction. It makes me really angry when someone doesn’t return my phone call in a timely manner, it gives the message “I don’t care, or you are not important” . These are the phone calls anyone in this business returns immediately, because it means business.
You should ask management if this is the way they usually handle business. As for the mortgage agent contact someone else too, and when they call you back say: Someone else had the decency/ courtesy to call me back because you weren’t.
(A good agent/realtor calls back within minutes)

Charles asks…
Have you ever bought a house and sold it for a profit. I am
wondering how I can do this. Can you direct me or help
me learn?

Most people don’t give this information away for free. The people who are good at it had to learn through trial and error.
Now, the best piece of advice I can give you would be to seek out your local investment groups, attend meetings, learn as much as you can about lending, and real estate.
From there, create your power team. Your power team should consist of a: Realtor, Mortgage Broker, Title Company, Accountant & a Lawyer. These people will help you stay out of trouble and help you make the right decisions based on your needs and experience level. The more comfortable you become, the less you rely on your team. But, this is a move that I guarantee will save your ass at least once.
The rest of it is about being a good negotiator and being able to control your expenses. The rest of it is really pretty much common sense.
Good luck.
OH…and always always always find a good home inspector and always always always pay to have a home inspected before you buy it. THIS ONE SIMPLE THING HAS SAVED ME HUNDREDS OF THOUSANDS OF DOLLARS IN POSSIBLE MISTAKES…its worth the money.

William asks…
I’ve just finished setting up my LLc and right now im just learning the basics of real estate, property managment etc. I’m just wondering how about if i find a partner that’s willing to invest some capital and expertise if any on real to help grow my company. I have dreams of owning a multi million or even billion real estate investing company. Right now i’m focusing on building a company that buys and sell cheap real estate. But in the future i want to own large apartment buildings and office buildings worth millions. I’m young but im commited to learn.

Develop a business plan and first try and selling it to family friends, and people you know. If they are not interest ask them if they know someone who might..
Most people want to know
Why they should invest in your company?
1. How you plan to make money?
2. How much money do you need?
3. Where will the money go?
4. What are the risks?
5. What you and other people are contributing?
Who running the operation?
1. What experience do they have?
2, Does the company/owner have a track record?
How will profits be distributed?

Steven asks…
Hi everyone, my question is in regards to getting started in the real estate business. I would really like to learn how to become a real estate loan officer and loan processor. I have tried to get some information about this on my own, but I just end up overwhelmed and unable to identify what I really need to do to become one. I don’t really know anyone in the field and the few real estate agents that I have asked only tells me to go to one of their meetings, which I have gone to, only to find that they’re just trying to sell me into joining their “team”. Is this the only way to go? Or is there another option for me? I have searched online and found numerous classes that offer certificates, are these what I need to take? Should I be taking classes in a community college and earning these certificates or is online acceptable? Do I even need to take classes to earn a certificate and do I even need a certificate? Would I need a license to work as a loan officer and/or processor?

If you’re a strong sales person, you should be able to secure a position as a loan officer even without a history in the business. Many companies will train an aggressive sales person to do mortgages. No need to get a certificate. It’s typically a commission based job (except in banks) so the companies risk is minimum other than training time. The only license needed is a solicitor’s license (at least in NJ) and it doesn’t require testing, only submitting an application and $100.00 (this is done when you are with a mortgage company, not before). It is a requirement to take loan applications. Once you are a loan officer, you can ask the company to let you sit with the processor for your fist few loans so that you can learn the complete process. I
t can be an aggressive field, like real estate sales where you need to really build up a clientele. Some companies provide leads, some do not. I’ve trained many loan officers with no previous experience in the business. Again, you need to be aggressive, a bit thick skinned and interested in constantly increasing your knowledge base. If you are looking to work directly with a bank and they won’t hire due to inexperience, try mortgage brokers (everyone’s looking for a good salesperson). Good luck!

Ken asks…
I am interested in a real estate sales license for several reasons,least notably would be actually making money off of real estate sales, I do not expect to make a living from selling real estate and will not be interested in pursuing real estate sales as a full time profession, at least for the time being i want to participate part time, learn and get a feel for what its really all about before quitting my day job and plunging into possible financial disaster.because i am not actually expecting to MAKE any money for a year or two i am concerned about the actual cost of just having the license.
say you were to have a sales license,be associated with a broker and pay whatever monthly fees are involved in being a Realtor but you wind up selling zero homes because you are terrible at selling things and dont have a clue…
1) how much would you be doling out just to be a “realtor” on as monthly basis
2)do you have to agree to any yearly terms (such as paying a fee to a broker every month for a full year)or could you just stop paying monthly fees at any time if you were making no sales at all or found you did not want to continue in real estate sales
3)will a brokerage “fire” you if you are only working evenings and weekends when you can (this is not to say any client would ever be neglected just that an aggressive pursuit of NEW clients might not be taking place at all times because of my current career obligations)so basically if you arent selling much or anything does your broker dump you.
4)do you enjoy real estate and does it feel like you work for yourself and have freedom with your time? (those are the reasons i want to be involved in real estate, i want to work for myself using my own talents, i want freedom to do thing when i want to do them,like go my my childs ball games if i want to and i want to look forward to working everyday.
Thank you for answering!
-Richard

The answers to questions completely depend on your agreement with your broker. It mostly depends on what you want in return from your broker. If you want training and potential clients you will have to be at the office a lot and won’t feel like you are your own boss the first year. But if you just want to “get the feel” of real estate and not work or learn the business there is a good chance it won’t cost you a dime. You will have other fees associated with your membership to the local board of realtors and state board of Realtors and possible a national franchise fee but these are billed bi-annually and vary depending on where you live. I have to pay about $2000 a year for these. And of course there are the fees associated with going to real estate school and for the licensing exam.
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George asks…
Tried Redfin, Movoto… all those advertisement-pumped sites anyone finds when they type “homes for sale” into Google. But does anyone know of a GOOD site…. where I can find houses that most other people can’t?

Zillow.com is a site I used to find the house I bought this Jan. It shows you the sites “estimated” price and whether the value of the house has gone up or down as well as last years property tax. Good site although the information may not always be up to date in your area.

Paul asks…
I’ve been looking for a smaller home to buy. When I ran a search on what was available in my locale, I noticed one street that had quite a few homes for sale. This sent up a red flag to me – why would so many homes on one street be for sale at the same time?

If they were built 1999-2005 they might just have been sold to dead beats with subprime loans. I would not worry too much, it is just the process of them going back to being renters.
If the homes are older then that, yes, there very well might be something wrong in the neighborhood.

Linda asks…
Where can I find records of homes for sale in1985 in Los Angeles ca. The way the property was first advertised.

Find a really old real estate broker who has kept all the MLS books – yes, we used to have books in the days before computers. You probably won’t have much luck!

Michael asks…
Every site I go to always asks for money or my credit card number do you know any that don’t?

In Michigan, you can go to the State home page and they have a link that shows the properties that will be up for auction. Other states should do something similar.

David asks…
We are looking to purchase a home that is currently being sold as a short sale. It was listed for $155,000 and now being listed as a short sale for $139,900. With the housing market being SO bad, we don’t know what to offer. We don’t really even know what a short sale is. The home was built in 1997 and is in a good neighborhood. It’s also in great condition. What is a short sale and what should we offer???

A short sale (or sometimes called a compromise sale) occurs when a mortgage company agrees to help a homeowner sell their house even though the homeowner can’t sell the house for enough to pay off the mortgage.
If an owner in that situation has no cash in the bank or any other asset that can be sold to pay the difference, the bank will often agree to “forgive” the difference or loan the seller the difference on a personal note.
The bank would want to assure themselves that:
The home is being sold for as high of a price as it possibly can in the current market.
The seller has no other alternative and the loan will soon be in default if the short sale is not agreed to.
There is no fraud involved in the original purchase or in the current sale. (If you are attempting to short sale to your boyfriend to defraud the bank for example)
That the bank will be better off accepting this short sale than foreclosing on the house.
——————–
None of this means that the house will be a good buy for you. To determine if it is a good price for you then you would need to compare this house with other homes on the market that are similar. Pick the one that you will be happy with and happy with the price–that is the best house.
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Paul asks…
I am doing a study to see where people go to find homes for sale on the internet. I would also like to know what you like and don’t like about Realtors websites. Thanks for your input!

Check out www.realtor.com. Alot of multple listing realtors use it and you can search by zip code. That where we found our house.
Good Luck!

Ken asks…
This might sound like a silly question, I realize. However, of all the individual sites I’ve visited, it seems that realtors only want to give you pics/tours of homes that they have listed w/their companies….
Not a complete list of all the homes available. Please recommend a site where I can easily view all homes for sale, regardless of which real estate company is listing them.
Keep in mind I want to see only homes for Jacksonville NC area.

You need to go to an authority site such as realtor.com or century21.com
Aside from that, if you want to contact an individual realtor in Jacksonville NC, I have used Uriah Bell from Century21 before & he did an outstanding job for me.
I did a quick search and found this webpage with his information on it:
http://www.usfreeads.com/903241-cls.html

Mary asks…
I’m considering moving to a rural area….The subdivision that I checked out had 8 more lots open and the subdivision couldn’t be no more than a 1.5yr old and there were about 8 homes that was bought and up for sale by owner. What does that mean?

It could mean that the same owner is buying them up and then reselling them at higher price. Or it could mean that someone had bought them before being built and have decided for whatever reason that they want out of it.

James asks…
We are moving to the area. I’d like to view homes for sale, but I’m having dificulty finding websites like the ones I use here in Washington. I just want to browse the MLS.

Www.realtor.com
This is the website for the Nation Board of Realtors. It covers every MLS listed house in the entire country.

Sandra asks…
I need a good website that can give me ALL the homes in my area(Logan Ut) that are for sale, including the repossessed and foreclosed. Thanks!

Any such website is going to ask you for a credit card and to sign up for a recurring membership that will cost anywhere from $9.99 mo and up.
If you seriously want to know of foreclosures in your area, just call up a local real estate agent and ask them for a list!
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Laura asks…
My mom’s friend needs to sell home mobile home and she needs to know this.

In general, no. There are circumstances, however, where in the instance of a mobile home being permanently affixed to land that the title is “retired”. Refer to Chapter 401 of the Pennsylvania Code, § 401.5, which states:
§ 401.5. Cancellation.
(a) Certificate of title. The owner of a mobile home which has been permanently mounted on a foundation and affixed to real property may apply for cancellation of the certificate of title or ownership for the mobile home by completing the appropriate form furnished by the Department of Transportation and returning it with the certificate of title or ownership to the Department of Transportation.
(b) Outstanding liens. If there is an outstanding lien, the certificate of title or ownership will not be cancelled until the applicant submits satisfactory evidence that the lien has been recorded against the land on which the mobile home is located.
(c) Transfer after cancellation. In order to sell or transfer a mobile home without also selling or transferring the land on which it is located, the owner of the mobile home who intends to transfer the mobile home shall obtain a new certificate of title or ownership in accordance with the procedure set forth in subsection (d).
(d) Obtaining new certificate after cancellation. To obtain a new certificate of title after cancellation of a certificate, the owner of the mobile home shall submit to the Department of Transportation an application on the appropriate form, accompanied by the following documentation:
(1) Certificate from an attorney or title company that there is no mortgage, judgment or other lien of record against the mobile home; or, if there is a lien, a release executed by the lienholder and certified from the records of the Recorder of Deeds or Prothonotary, as appropriate.
(2) Copies of one of the following documents:
(i) The Departmental form, ‘‘Receipt For Mobile Home Title Cancellation,’’ properly endorsed by the Department and issued by the owner who intends to transfer the mobile home.
(ii) The deed to the land indicating ownership of the mobile home by the owner who intends to transfer the mobile home.
(iii) If neither document described in subparagraphs (i) or (ii) is available, a bill of sale for the mobile home issued to the intended transferor.
(3) The Department may require an affidavit detailing the chain of title and the circumstances of the acquisition of the mobile home by the intended transferor.
Http://www.pacode.com/secure/data/067/chapter401/chap401toc.html
If just the mobile home is being sold, there must be a title.

Donna asks…
Im only in highschool, but i want to sell some of my home made bags and totes. I need a website that can be cheap and looked at by people around my age.

Try www.etsy.com. It is a website to sell all things handmade.

Helen asks…
hi. im wanting to know of some home decor sites that sell kitchen decor and dinnerware/linens besides ikea and etsy. do you have any other sites? it would really be helpful.

Try InteriorMall.com http://www.interiormall.com

Lizzie asks…
Lost 35% on value of home. I need to buy new home (i got 3 kids and we dont fit n need better school system). Have been trying to sell now on and off for 3 years. IS there a bank that would finance what I lose on the home selling under orginal mortgage, and put that amount ontop of new mortgage…my wife and I have excellent credi.

1. You can NOT sell the home if it’s worth less than what you owe without permission from your lender. Most lenders will not approve a short sale if you can afford the payments. They will investigate your finances thoroughly to make that determination.
2. Don’t plan on purchasing a new home for at least 5-7 years since a short sale will have a large negative impact on your credit report.

Betty asks…
Hello,
What are the laws or liscenses needed to sell home baked items in the state of Ohio? I would mainly be starting at Farmer’s Markets and craft shows. My reason for asking is that I have a web-site all about chocolate. I have had many requests for products to sell. I have also been asked to participate in a chocolate festival in which requires that each vendor pass out samples. Can anyone give me any information about this?
Thanks Alot!
Genesee from The-Chocolate-Spot

It is necessary to live with the same rules as the restaurant business . . . In that . .. The food preparation area has to be just so or the health inspectors will send you packing.
Check into your local laws around food preparation . . . Most people either rent a space which is acceptable and go from there.
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