College kid looking for some advice in Real Estate - Page 3

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  1. #21
    lifeoftheparty.'s Avatar
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    Well, I've gotten my hands on some solid foundations. Pretty beastly books! Gonna' pace myself through them on top of my schoolwork.



    As far as I understand the left is a coursework book for agents and the right is the core book for appraisal.
    Last edited by lifeoftheparty.; 11-04-2010 at 02:38 PM.
    "Whatever you're thinking, think bigger." - Tony Hsieh

  2. #22
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    Im going into real estate with my mother as soon as i graduate and start earning proper secured income. Going to do it via a mortgage and buy cheap properties at auction, (lots of what you call foreclosures in England right now) spend some money on them, try to make them unique, sell them on.

    We are quite lucky as in England especially outside London, modern architecture hasnt taken off, theres a market for it but developers prefer to just do the normal, i guess that can turn it round quicker. So we are going to do about 10 houses till we can buy 2 in pure cash and then start developing
    Trying to go from active to passive income in 2013...
    2003 Audi A3 Tdi Sport business runaround.
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  3. #23
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    Quote Originally Posted by lifeoftheparty. View Post
    Well, I've gotten my hands on some solid foundations. Pretty beastly books! Gonna' pace myself through them on top of my schoolwork.



    As far as I understand the left is a coursework book for agents and the right is the core book for appraisal.
    The book on the right will be good for you to read, but you aren't going to learn the real workings of CRE from a book. CRE is extremely unique and varies based upon the area and property type. Your best way of learning the business is by working in the industry below a seasoned vet. It is a hands on industry meaning experience is how you learn. Of course, reading the book will not hurt, but real knowledge will be gained in the game. My boss is an ex president of the Appraisal Institute and basically wrote that book (on the right).

  4. #24
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    bump. I know this is an ignorant thing to say, but i'll say it anyway. How is selling a lambo difficult what so ever? Don't those cars sell themselves? I mean, what do you use a lambo for? Your not going cross country, your not off roading, its not a daily driver, i mean........ c'mon. It's a toy for most the people that can afford them. Their sexy and they go fast. How much more do you need to know?... the mpg? ..lol

    anyway back to the topic. Before the recession I thought about going into rehab financing with my college savings. Something I still think about. If you give a loan at 70% ltv and your in 1st position, you dont need to worry about much.
    A) the investor fixes up his property, sells it, and pays you off
    B) the investor goes broke, you take over the property
    1) dump it at fire sale prices. If your well capitalized, this shouldnt happen.
    2) Finish the project, and rent it out, and sell later
    Life ends when you stop dreaming...hope is lost when you stop believing...and love fails when you stop caring.

  5. #25
    lifeoftheparty.'s Avatar
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    Quote Originally Posted by Go Getter View Post
    bump. I know this is an ignorant thing to say, but i'll say it anyway. How is selling a lambo difficult what so ever? Don't those cars sell themselves? I mean, what do you use a lambo for? Your not going cross country, your not off roading, its not a daily driver, i mean........ c'mon. It's a toy for most the people that can afford them. Their sexy and they go fast. How much more do you need to know?... the mpg? ..lol
    "Whatever you're thinking, think bigger." - Tony Hsieh

  6. #26
    agup48 is offline Junior Member
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    You may have been in some of my classes.

    I go to ASU, but study Design Management, I'm in a planning class right now. Sorry I'm no help, but lots of ASU students here.

  7. #27
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    Quote Originally Posted by lifeoftheparty. View Post
    x2!

  8. #28
    Go Getter's Avatar
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    Quote Originally Posted by lifeoftheparty. View Post
    " real estate sales, especially commercial, isn't for everyone. i went from broker to investor and one thing I quickly learned is a somewhat above-average commercial broker in a big city like LA can outperform the top Lamborghini salesperson anywhere. By that I mean you're not selling herbalife here - these are expensive assets to move and the customers are highly sophisticated. it's hard to bullshit your way through such a numbers-driven sale; there's little to no emotion in commercial. that's the fun part. "
    Life ends when you stop dreaming...hope is lost when you stop believing...and love fails when you stop caring.

  9. #29
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    test post to ensure i can post in this thread before writing out a long reply

  10. #30
    Go Getter's Avatar
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    ^ prod, I love that avatar!
    Life ends when you stop dreaming...hope is lost when you stop believing...and love fails when you stop caring.

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