Many people nowadays are confused whether they should use their money to pay monthly rent or to pay 30-years of mortgage. While it is true that once the mortgage has been paid off you will end up with a home and you got nothing when you pay for rent, renting a property is actually the best option in this economy. It offers plenty of financial advantage that will make everything easier for you.
Firstly, the rent amounts are fixed. Once you and the landlord have agreed on a certain amount, it will be the same each month so you can budget accordingly. If the landlord wants to increase the rent amount after the lease term ends, the property management service will notify you so there will be no surprise. It is different with mortgage. The amount of money you need to pay will vary each month following the fluctuation of the rate.
Furthermore, you also don’t have to worry about maintenance. If you find something broken at the house, the water is not running, or there is a leak somewhere, simply call the property manager and you only need to wait until everything is repaired. Maintenance cost can be really high and you are saving yourself a lot of money if you don’t have to worry about maintenance. Of course the landlord will have certain rules about this. If the damage is caused by you, you might need to pay the maintenance cost by yourself.
Another great advantage of renting is you are not required to pay tax. The tax property is fully the responsibility of the owner. Property tax is getting higher and higher nowadays and it can be a huge burden. It also will affect your mortgage payment and you will end up paying more than you can afford, especially if the value of the house is very high.
Are you looking for a job in real estate? If so, you may turn to Craigslist.org. Craigslist is a popular online classified service that aims to connect job seekers with job employers. They even have a job section just for real estate. Depending on your city and state, you will find many positions available. However, you may also find scams. How can you avoid them?
Avoid “systems,” that claim you will make money as a real estate agent. Honestly, this isn’t even a job offer. Still, you are likely to find these types of postings on Craigslist. Many of them claim that you don’t need to work for an existing agency. You can start your own and make lots of money with their tips. But first, you must pay the fee, which could be anywhere from $25 to $1,000 or more! Save your money. To get your real estate license, you must take a course and pass a test. You will learn all that you need to know there and many other free success tips are shared online.
Keep your options open to avoid scams. One of the reasons why real estate agents are a popular career choice is because of commission. You make money each time you assist in a home sale. Sounds great, but you are unlikely to start raking in the money right away. In most states, you must have a valid realtor’s license. Plus, there is the people factor. You must have good customer service skills and work well with others. If you need to work on these, but still want to get your foot in the door, apply for a different position. Many companies hire administrative assistants and secretaries. These are legitimate office jobs.
Most of the job postings you will find are for real estate companies looking for realtors to join their team. Although they may not have their company name posted on Craigslist, you should get it soon. Once you do, perform a standard internet search online. All agencies should have online websites. Find it to make sure the company exists. In the meantime, don’t pay any fees. Although a real estate agency wants their employees to have valid realtor’s license, you handle this yourself. Don’t fall for a fee trap, as it is a scam.
If you’re trying to decide between a career in real estate or starting with realty jobs like flipping houses for investors you should thoroughly research the real estate market and see if you have the tenacity. Working in real estate requires good communication and organizational skills. It’s dealing with people on a day-to-day basis and constantly selling yourself.
Many people glamorize the profession only focusing on the material aspects like the big commission checks and working out in the field; this is only a snapshot of what working in real estate is like. It takes time, effort, driving around all day at various hours to accommodate your clients and patience with people who don’t know exactly what they want. All of this goes without any glamour and that big payoff only comes after long tired days of patience and the willingness to work beyond what you really want on those nice sunny days.
Most careers in real estate require a real estate license while jobs like flipping houses do not require a license but lots of time and effort. Flipping requires you to be disciplined, organized and the personality to adapt to different environments and people. Everyone you meet will not be courteous and polite and many will possess just the opposite traits. That’s not to say you shouldn’t jump at a career in flipping houses.
Flipping houses doesn’t really require any credit; it’s good to have A+ credit because it allows you to bargain more freely and will open more doors and opportunities but good credit is not a mandatory requirement.
Starting out you might want to consider having some money saved up. Beginners have a difficult time persuading lenders to forego down payments; you’ll be in a better position once you’ve completed a few transactions.
If you want to work for a real estate investor by locating flipping opportunities for them, move forward with caution. This can be illegal in many states. Many states do not allow anyone to be compensated for helping someone locate real estate unless you are licensed. Now you can overcome this problem by focusing on only one thing to help an investor with – sifting through all the information he requires like checking property and tax assessment records. This type of job you can be compensated for without fear of restrictions from any states.
To become successful working for a real estate investor by providing information for flipping properties you must thoroughly research random information and learn all about the market the investor is interested in. This will narrow your search and become more efficient in gathering your information.
So whether you start a new career working in real estate or you decide you only want to start with a job by flipping houses, it’s possible to learn the ropes and move up the ladder quickly.
What’s the best path for earning while learning while you work your way into wholesaling properties?
Many thousands of individuals want to get in to flipping houses today, and realize the sooner they get started the better. However many see challenges in needing a paycheck now and cash to invest before they can be wholesaling houses full time.
So what type of job is best in the interim?
If this is your strategy (earn and learn), perhaps the most important criteria you should have for choosing an interim career is the need to make more than you spend.
It’s great to do something you are passionate about and good at, but don’t let it distract you from the ultimate goal of financial freedom and how wholesaling homes can be the fast track, or even only really viable way to get there. Once you are financially free or at least enjoy a lot more free time and can set your own schedule you can then pursue those other interests as hobbies rather than having to do them to survive and eat each week.
For those looking for another job while they position themselves to get started wholesaling properties, a job in the industry can be a great way to earn and learn at the same time.
If this sounds like a smart path for you, there are many options including:
· Real estate sales
· Mortgage loan officer
· Title insurance rep
· Home insurance rep
· Real estate assistant
· Internships with real estate investment firms
All of these choices can provide a great way to really learn what it is like on the inside, hone your skills and technical knowledge, make contacts and even start generating leads, while making an above average income.
However, of course, some of these jobs and careers can take even longer to generate paychecks than jumping right into wholesaling properties, and the investment required and demanding schedule can create even more roadblocks to actually becoming free.
The bottom line is that you don’t need money or credit to get into investing, and can make money quickly with the right strategy.
Getting the real estate investment education you need doesn’t require going back to college for a new 4 year degree, or even waiting 6 to 12 months. With a good course and system you can effectively be flipping houses in just weeks, and be making an income that will put you in the top 1% of U.S. income earners.
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