There are countless reasons why one should invest in real estate when there are other avenues for investing. The main reason people to choose the real estate market is that, real estate is very much profitable and safer when compared to other kinds of investing like mutual funds, currency investing and buying silver or gold. You should have noticed one major thing in real estate investing, even though there are some ups and downs; the real estate is always growing. The government of United States has also given real estate investors with multiple tax breaks like the 1031 exchange. You should know that as long as you reinvest your money earned from real estate into another investment, you needn’t pay taxes on said profit. This is why real estate investing gives you so much freedom with taxes when compared to other kinds of investing. When it comes to real estate investing anyone can get involved, all you have to learn is some basic tactics on how to sell or buy properties and get yourself involved. You should also need to be doing some extra work like visiting some website to learn more.
The first and one of the easiest ways to make money is from the cash flow from rental properties. If you have individual homes or houses in apartments, you can rent those properties to make a steady flow of income for many years. This is considered to be a safe way to make money. An after a couple of years you can increase the rental. However the size and location of your property plays a role in making money! When it comes to renting, inflation is your best friend as this will increase the cost of construction price and the growth of population causes a demand for housing which will be increasing the value of the rented properties. When there is appreciation there is always an increase in value of properties. Real estate has an outstanding source of profit over a time, but no one can guarantee about this trend and it varies based on the area.
If you are into real estate investing, then you are sure to learn something more out of it. For instance, you will meet lots of interesting persons and this will help you to get socialized. There are many real estate agents who have tons of friends, just because they meet people everyday; and you are sure to get lots of contacts which will help you to develop you business further, including your marketing skills.
Watch the video related to for real estate
Ozzie Jurock discusses the slowdown in real estate across Canada. Vancouver, for example, has seen a year-over-year decline in sales of 43%.
Help answer the question about for real estate
How/where to deduct real estate training fees on taxes?I plan on getting a real estate license for the education and qualification when managing my private real estate investment career.
Where/how do I deduct these costs on my taxes? Eventually I'll set up a real estate company where I could deduct them, but that won't be set up for a while.
Thanks.
You have a LEGAL AND BINDING CONTRACT. all disclosures within the contract should be what the seller knows about the property. Now the other agent cannot FORCE you to sign anything. Basically what the agent is trying to do is cover his clients ass- if the selling side has a problem with it you can always take it before arbitration (see how they like that). Either way the selling agent is not within his rights to present other docs. for disclosures, nor do you let them off the hook. You will have no recourse if you do. Hope this helps.
Russ Whitney has a great coaching program you may want to take a look at.
Good Luck
Sheldon Moylan of Dominion Lending Centres
Hindsight here? Real estate died long ago now with a surplus of homes not selling. Most who did not get involved in the real estate hype did not want to be the middleman who does a crappy job fixing up a home and jacks up the price way up. Real estate died and you’d be extremely lucky to make $70,000/yr. Seems to me someone wants the land price beyond affordable for the most amount of people since the days of Vu in order to keep competition out except for labor competition
I agree. The bikini girls actually make it more hype. That is what this is: All hype and no substance. If anyone fell for this back in the day, God help ya!
If you are talking about selling real estate as an agent, then
You can take real estate classes in college or you can go to a real estate school (this is what most agents and brokers do) you will have to take a licensing test from the state.
If you are talking about investing, then there are REITs you can invest in through a stock broker,
If you are talking about investing by flipping (buying and fixing then selling)
you will need to learn about costs of materials, value of real estate in your area, subcontracting for plumbing etc and have time for equity labor.
below is link to kaplan schools, one of the better real estate schools
The last person that answered and said it is not possible to collect a commission if you are the principle is incorrect. They may want to check their source.
I am an active real estate agent. I have bought 2 homes that were my primary residence in the last 7 years. Each time I represented myself as the buyer's real estate agent. Each time I deducted my commission from the price of the home because that is how I wanted to get paid. But I had the option to get paid the normal 3% as the buyer's agent and have that money go through my broker and their commission split to be taken out. So in order to avoid all that, most brokers allow their agents to have at least 1 personal transaction in order to benefit from it. Maybe things are different in NY – I am a TX agent. I say get your license but don't be a broker (more expense and liability) just be an agent. Find a broker that will just charge a minimal desk fee ($250) per month or a certain amount per transaction ($200) and they also will pay your E&O insurance. As long as you keep your license active, this will be a great asset to have in the future as you and your family or friends buy homes. It will save you money in buying and selling. Just make sure that everyone involved in the transaction knows you are a licensed agent and representing yourself.
Good luck.
Currently, I am a General Appraiser in NY. For commercial appraisals we charge between 3k-5k per job (average). We charge $600+ for residential work. The trick is to avoid finance appraisals. We do appraisals for attorneys, municipalities, accountants, insurance companies (divorce, litigation and condemnation, estates, gifts). This kind of work is recession proof and you can charge more because the appraisal is going to court. Also, people will always be getting divorced and die. If you rely strictly on mortgage appraisals you will not be able to survive right now. Getting a license now is very difficult. Effective 1/2008 the standards of becoming an appraiser has just increased. You will need 300 classroom hours and past each test (Around 10 classes), 4 year college degree and pass a new state test plus work for a General Appraiser for 2.5 years or 30 months. Go to the appraisalinstitute.com for classes and networking opportunity. The give the best education and are highly regarded in the industry. The classes are very difficult there. Once you find a mentor (took me 2 years) you will get a small percentage typically 10%-15% (you will make about 30-40k during your 1st year, 50k+ 2nd year, 75k+ third year). Take into account though I am in NY.
Century 21 has always offered this. (i don't work there)..
the broker hires agents under there license and get a cut of commissions. The agent does listing and sales and earns a commission
I am a real estate agent in Australia with my own independent office.
I am not sure what courses are like through franchises, however, here, the courses with regular real estate schools are very good.
When you are looking to find an agency to work for, consider the following:
- do they regularly pay for training for their employees? what kind of training and how frequently?
- does management get regular training and upgrade their knowledge on changes in legislation etc (here we have special annual education to attend to stay in the know)
- what internal systems and procedures do they have that will assist people who are just starting out? for example, a good computer software and training resources in the office for when you get stuck on something.
- is there someone more experienced in the office that can mentor you?
I believe that a franchise is not necessarily the best, often all the training that they attend is in house, and they are not open to external training providers (which can be very beneficial).
You need to look at the individual operator of the office to decide if it will be a good environment to start your career or not.
i lol’d
booties and boaties and bucks…oh, my!
strange…i had a somewhat DIFFERENT reaction to the girls! XD
Hes a character, I remember when I first saw him in school. Thought he was a con then and years later 60 minutes exposed him… But what the hell, he shows the US male what he wants to see..nuf said..
3:01 ……………. its weird
I have a friend that moved to brokering heavy equipment sales and leasing. He seems to be living very comfortably on the income. If you already have contacts as an underwriter and loan coordinator, you're already half-way there. You need only start developing a customer base.
He made millions…but he’s still a virgin.
SO where was this fool during the sub-prime boom? Thought so.