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I want to get into real estate

Discussion in 'Channel Zero' started by Gunm, Feb 22, 2006.

  1. Gunm

    Gunm Banned

    Joined: Aug 31, 2003 Messages: 12,427 Likes Received: 1
    I have a few friends who have gotten into real estate in some form or another and from what i see, it pays off big as long as you put in hard work and your persevere at it....no problem...I can deal with that.

    So I am going to start taking steps to get my license this week.
    I am just sick of this 9-5 bullshit everyday...tired of not getting back what I put into my work day...lame ass commute EVERY morning....living paycheck to paycheck....I want big money and a sense of satisfaction when the work day is over.

    Any 12ozers working in the real estate field that would like to give me some advice or share some stories?
  2. ego maniac

    ego maniac Elite Member

    Joined: Oct 6, 2005 Messages: 2,786 Likes Received: 0
    hello refuckingtard....
    REI firm.....
    Ya heard....
  3. hungoverseas

    hungoverseas Member

    Joined: Mar 24, 2005 Messages: 588 Likes Received: 0
    i have a friend who went to a semester of college, dropped out, got into real estate, and now he's in charge of an entire office for a pretty large company around here. he's 21. i guess he has to make a pretty serious commute, but the kid is making bank.

    my mom is a realtor as well. she seems to do alright. it's a real hit or miss field though. a lot of realtors are broke.
  4. !@#$%

    [email protected]#$% Moderator Crew

    Joined: Oct 1, 2002 Messages: 18,517 Likes Received: 622
    i bought a house recently and i think the nationwide housing market is kinda about to bust

    maybe not the best time to be expecting good commissions?
  5. GamblersGrin

    GamblersGrin Elite Member

    Joined: Sep 24, 2003 Messages: 3,243 Likes Received: 16
    ive a friend who does real estate. she has a nice house with her husband and two kids. i was over last week drankin it up and she sold a house on the phone. if you dont want them regular hours but must be a people person and be willing to kinda go show a house in an hour regardless of what you are doing, then try it out. she likes it.
  6. fuck muni

    fuck muni Senior Member

    Joined: Nov 26, 2003 Messages: 1,089 Likes Received: 4
    i knew some kid who never went to college, got into real estate in san diego and fools a millionaire nows, drives a porsche turbo and a m3, hes a bitch tho but he makes alottttaa bank
  7. Herbivore

    Herbivore Senior Member

    Joined: Oct 12, 2004 Messages: 1,431 Likes Received: 1
    I work in the mortgage industry, and I can tell you now is definitely not the time to get into any sort or profession dealing with the buying/selling of houses.
  8. isor357

    isor357 Senior Member

    Joined: Oct 8, 2004 Messages: 2,491 Likes Received: 3
    i want to buy 2 family flats in college towns or trendy neighborhoods. Figure the building will cost 300,000.
    Charge 750 per month for each. Thats 1500 per month
    18,000 per year...
    subtract 3000 per year for repairs (probably an overestimation)
    Thats 75,000 in 5 years
    The house is payed off in 20 years.
    Payed off by other people.

    750 is reasonalby cheap too. Put in some marble countertops wood trim, hardwood floors, a jet tub, track lighting. You are talking more like 1000 plus.

    You could probably get some govt loans to get started. You would also need some considerable money of your own
  9. isor357

    isor357 Senior Member

    Joined: Oct 8, 2004 Messages: 2,491 Likes Received: 3
    Thats in Detroit Its all relative though. In New York or Ca the same property is going to fetch 2500 per month
  10. nomadawhat

    nomadawhat Veteran Member

    Joined: Aug 24, 2001 Messages: 5,001 Likes Received: 2
    Isor knows the deal... buy properties that others are going to, at least, help you pay off.

    The markets are slowing down... a bust may not necessarily happen but things are cooling off considerably. Especially in Cali. not to mention the state is saturated with realators.

    I'm looking more into owning investment properties and/or flipping houses. (buying, fixing up, selling). I like more being involved in the physical part, the demo, the design, the renovations. This allows you to also 'stick and move' with up and coming/hot markets.

    THat side definitely takes a lot of dedication also, and expect a whole lot of stress and frustration... but if it was too easy, everyone would do it.

    THe plan is to buy places, fix them up, sell and use a tax deferred trasnfer (1031) of the profits to buy another place, possibly in a completely different market.

    rinse. repeat as necessary.
  11. count chocula

    count chocula Veteran Member

    Joined: Nov 29, 2004 Messages: 8,540 Likes Received: 392
    i get down in the field
    it's a very valuable thing to know.
    in my opinion, loans are where it's at. however, you must posess THE most important quality...


    without it- u might as well stack burgers. i see people come thru all the time with high hopes, and they give up in a matter of a month due to the amount of work. it takes a lot to get something funded, but well worth it in the end.
  12. Tyler Durden

    Tyler Durden Veteran Member

    Joined: Nov 18, 2001 Messages: 5,263 Likes Received: 40
    Now is not the time.
    To get into real estate.
    You will not do well.
  13. count chocula

    count chocula Veteran Member

    Joined: Nov 29, 2004 Messages: 8,540 Likes Received: 392
    by the way...

    ...anyone looking to re-fi? or a purchase possibly??
  14. Gat Bush

    Gat Bush Veteran Member

    Joined: Jul 23, 2003 Messages: 9,817 Likes Received: 129
    and cost millions to purchase.

    LENS is this career shift because of that milf bitch?
    Post naked flciks.
  15. count chocula

    count chocula Veteran Member

    Joined: Nov 29, 2004 Messages: 8,540 Likes Received: 392


    depends what u'r doing.