Anybody work in Real Estate?
Anybody here work in Real Estate? What is your position and how do you like it? Pros and cons.
I am currently enrolled in a home study course to become a sales agent. I am studying real estate principles, practice, and legal aspects. Once I complete the readings & take my exams for the principle/practice/legal I am eligible to take the California real estate sales agent exam.
My main concern with real estate is the math...I am not so great with numbers. At least its not algebra so I am confident enough I will be able to learn the percents/decimals/etc.
My dad has been a broker for over 30 years but he has recently retired, but its hard to get much insight from him since his health condition has affected his cognition/physical ability. Any input/advice/tips/rants are appreciated.
I think this is my path and what I will be doing for most of life to earn a living...we will just have to see.
Re: Anybody work in Real Estate?
Did your class teach you to use the "T" ? It is really just a formula and you put the numbers in the right place. each state is different in their testing - in my state the max number of math questions is 9 at the most and 1 the least - since the test are randomized you may get lucky and get less - their advice to us was focus on what you know - once we pass the test their is an APP for that - lol
i took the classes this past March/April but I haven't taken the test yet - I got sidetracked - so I think before I take the test i may retake some of the classes. The market here has been good and i am really pissed at myself for not taking the test sooner.
Sorry to hear about your dad. I know it is hard to watch your parents become old,Im dealing with some stuff with my dad too.
Re: Anybody work in Real Estate?
Thanks for the input Nikki_Fox, actually I am taking a home study course (would have preferred to take a class though).
I am not familiar with the "T" formula. I believe here in California it is 150 questions if I am not mistaken and yeah the math scares me...which is a pretty big deal in real estate but like you said with how far we have come in technology, apps, and what not, it should be easier nowadays for the math challenged like myself.
Thanks for that, he has Parkinsons. He was the top salesman of the month many months in a row back in the days when he sold land in Nevada. We always lived here in Northern California (San Francisco Bay Area) but he would travel to Vegas to sell land. He is also a broker for his own company (Calstar Reality)...its just nice to see he was able to make a decent living and provide for us with his work. I never thought I would follow in his footsteps but since I aint gonna be a registered nurse (the self fulfilling prophecy for most Filipino people lol) and I can't think of anything else to do that I could be content with...I figured why not try to get into real estate.
Good luck to you as well, hope everything works out for the best. Getting older is tough...and it is something we all will do. Every minute, every hour, every day...we are all getting older.
Re: Anybody work in Real Estate?
Re: Anybody work in Real Estate?
This is the best example I found on the internet - http://www.screenr.com/Uads - the others did a poor job explaining in my opinion - basically you draw a capital T any thing side to side you multiply - top to bottom you divide - you just have to put the information in the correct place -- the gross rent multiplier / cap rate is the other formula I would focus on as it is easy to memorize but the T covers the most ground
Re: Anybody work in Real Estate?
Quote:
Originally Posted by
slowpoke
Good Luck!
Quote:
Originally Posted by
Nikki_Fox
This is the best example I found on the internet -
http://www.screenr.com/Uads - the others did a poor job explaining in my opinion - basically you draw a capital T any thing side to side you multiply - top to bottom you divide - you just have to put the information in the correct place -- the gross rent multiplier / cap rate is the other formula I would focus on as it is easy to memorize but the T covers the most ground
Yo slowpoke, thank you very much! I appreciate that.
And thank you Nikki_Fox....that link was really helpful and it was understandable. It definitely helped lessen my fear/anxiety for math.
Re: Anybody work in Real Estate?
Quote:
Originally Posted by
sammii
You will probably have better luck if you go to a real estate forum and ask your questions there.
Thanks, I tend to forget there is a forum for everything. I will search some up.
Re: Anybody work in Real Estate?
I am currently studying for my real estate exam in California as well. The home study course that I took was quite easy and real estate math is simple math. But I would say when studying for real estate that you need to go to the library and freshen up on your math skills. I hope this helps you and good luck.
Re: Anybody work in Real Estate?
Quote:
Originally Posted by
DonaDiabla
I am currently studying for my real estate exam in California as well. The home study course that I took was quite easy and real estate math is simple math. But I would say when studying for real estate that you need to go to the library and freshen up on your math skills. I hope this helps you and good luck.
I just finished my home study course from First Tuesday. I read the principles, practice, and legal aspects. Then I took the 100 question exam for each and passed but barely lol. You need to get 60 questions out of 100 right for each exam (principles, practice, and legal aspects) and for each exam I got roughly around the 60-65% mark. I found the principles and practice to be fairly easy/common sense while the legal aspects presented more of a challenge.
You are right on the money though, I cant and shoudlnt ignore the math...its a big deal in real estate lol. And I see your location is in SF...I am in Fremont. I think we will be taking the exam in Oakland right? Also if I am not mistaken the DRE will soon be callled the BRE? Bureau of Real Estate.
Re: Anybody work in Real Estate?
im an investor/wholesaler/flipper/landlord. no license, few rules, good profit margin
one friend does private lending with other peoples money...a good gig
business partner is considering her license....if i got it, too many new laws id have to follow
some agents do well. most are niche players. newlyweds, mcmansions, cheapos, investors, multis. know your market and how the people in it make bucks
Re: Anybody work in Real Estate?
Quote:
Originally Posted by
pinups4
im an investor/wholesaler/flipper/landlord. no license, few rules, good profit margin
one friend does private lending with other peoples money...a good gig
business partner is considering her license....if i got it, too many new laws id have to follow
some agents do well. most are niche players. newlyweds, mcmansions, cheapos, investors, multis. know your market and how the people in it make bucks
Sweet, best wishes in your profession.
Re: Anybody work in Real Estate?
thanks...same to you.
let me know if you want to explore the investor side...
Re: Anybody work in Real Estate?
Quote:
Originally Posted by
pinups4
thanks...same to you.
let me know if you want to explore the investor side...
I am open to it, whats the 411? Feel free to sum it up in a nutshell if its gonna take to long to describe (I can just google) but you can let me know the good/bad/your experiences.
Re: Anybody work in Real Estate?
Black this is what I do, there is a very easy to learn calculator by HP that is very easy to use & I believe you can bring to the test.
Re: Anybody work in Real Estate?
Quote:
Originally Posted by
unbeleavable
Black this is what I do, there is a very easy to learn calculator by HP that is very easy to use & I believe you can bring to the test.
Thanks for the tip but I think out here in California they dont allow calculators but they do provide them.
Re: Anybody work in Real Estate?
Check, I was able as long as they looked at it.
Re: Anybody work in Real Estate?
Quote:
Originally Posted by
unbeleavable
Check, I was able as long as they looked at it.
Will do. :)