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FAQ

Is it long hours and does it require a lot of work? I am thinking about changing my major to real estate but is it hard to get jobs in and do you have to be really smart like way above average?

Are you worried about commissions? The seller pays all of them. What you need is a decent Real Estate Lawyer to close the deal.

I'm new to all this. How can you make something out of nothing in real estate? I'm looking to buy some investment property within the next year. I have the credit (784 FICO).. but my income is less than 50k a year. What's the best thing for me to do to get started? Any advice would be appreciated.

If you own your own home, you may have equity built up in it. If so, you could use this money as a down payment on an investment property. With your high FICO score, you will get good terms with a loan. If you do not own a home, BUY ONE!! Talk to a lendor and see what your options are and what you will have to do to purchase one. I bought my first home 4 years ago with $2,000 that I borrowed from an ex-girlfriend; since I have turned that home into 7 properties by this process. Last, search for deals, search for deals, search for deals; if you can find a good real estate deal, you can find money to purchase it - at the least, you could partner with an equity partner that would be happy to be a part of a good deal. Good luck!

Do they have any specific educational requirements? I know in the US you usually need to take a written exam and college courses, but I believe in some EU countries(UK, Spain) you don't need any requirements(besides good communication skills). And is there a website for real estate agent requirements? I looked but couldn't find anything.

When we looked at houses, it was the banker that showed the property. Or, if it wasn't the banker it was the property manager -- you, know, like an apartment manager, they would manage, repair and mantain assets. Or, the owner. There is no title search. Homes could have grandfather clauses like a water well, or access to a detached garage or a garden plot. Worse, in the past, the utility companies might have had permission to erect a power station, dig for a sewer/minerals or other things of that nature on part of the proposed property. In a word, a completely different experience. No realtor in sight. The property transfers with a fresh contract from a lawyer.

Im 17 , I got my Ged not to long ago. I really think becoming a real estate agent would be a great job for me. I have a few questions about this career though. How much do you make as a realestate agent. I just want an idea of how much a do beginners get paid and how much do you get paid. Do you like you job? Whats an average day like for you? What tasks do you usually need to do throughout the week. Is it a stressful job? And if i work for someone, how much would my commission be on a house? How bad is the market for selling houses now and do you think it will be a lot better. Im really considering on selling houses for a living though is this a good choice?

You don't get a salary. No realtor is paid a salary for selling property. You get a percentage of the fee your broker makes from your sales. The average earning is $45,000. That average is spread all across the country. For instance realtors in CA earn more because the property is expensive. They would make a lot less in a place like Alabama where property is much cheaper.

I would like to know what kinds of investments in real estate are worth it. Condos, Coops, houses, I live in the Bronx, NY, and I would like to invest in my child's future by putting the money into real estate since it's so unlikely to lose it there. Please let me know your thoughts.Thanks a lot

I'm doing the same thing here in NC with a 3/1.5 home of 1,000 sq ft. My wife and purchased our first home through a first time buyer's program through the state with no money down for 60% of what we qualified to borrow ($110,000). We are living here for 2 years and then moving to a better school district after we fix it up. Over the next 10 years we are going to make more improvements as we rent it and when our oldest goes to school we plan to sell it (but might not). I could never put this kind of money away in cash as a lower-middle income parent.

I have recently graduated from an ABA approved Paralegal program and I'm interested in becoming a Real Estate Paralegal. I would like to know if I need to take some real estate classes to boost my job prospects? I live in NYC.Thanks!

Congratulations on your ABA!! It should go without saying that anytime you can build on your knowledge specific to your career is beneficial. Laws and real estate are state-specific, so not only will the knowledge you gain through additional schooling, but the initiative taken to build your resume will fair well in your job search. If you already have a goal as to who specifically you'd like as your employer, contact them and ask what it is they look for in an employee for just such a position. They may have specific directives that will point you in the right direction. Take it from someone who wishes she had done that BEFORE she spent four years in college only to then teach for a year and find out those 4 years were wasted. The Perfect Resume by Tom Jackson is an EXCELLENT resource for someone like yourself. Also, there's quite a variety of cover letter and resume templates on Microsoft's website or just click into the lick below... Best of luck!

I have been thinking about getting my real estate license... but I want to know if it's a bad time to get it right now. I live in Dallas. I don't want to spend the money on getting my license and not make any money.

well my aunt does Real Estate, but this is in Louisiana. She`s motivated and great at it. She was doing wonderful, and enjoys it. Lately it has been slow for her, and she is pulling another job( she makes good money doing this, so i dont see the point in her having another job) she says it`s just been much slower than usual. Well good luck!

Has anybody bought, or reviewed the Armando Montelongo real estate program? If so, did you like it? Is it worth it? Will it actaully work if put into practice?

He is a success story, but you have to know 2 things. One, he is in San Antonio, Texas. Texas has not been affected by the real estate slump the rest of the country is experiencing. Secondly, he may have rolled into town with only 5 bucks, but his family is extremely wealthy and I'm sure they helped him get into these properties until he built up a nest egg of his own.