Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I want to take this opportunity to thank all of you that took the time to read my post and to provide me so much great and valuable feedback and comments.
Overall, it sounds like I owe most of you dinner, as a tremendous thank you for helping me save TONS of money by avoiding getting into the Real Estate profession . . . especially at this time of my life.
Based on what so many shared, it sounds like “just starting out” would be a money pit . . . and "might" turn into a nightmare as the years roll on (a crapshoot of sorts). Overall, I think the real estate field would be interesting enough to give it a try if I were about 20 years younger, but since I’m looking to retire at a near future date, this does not sound like a good match for me at this time of my life. “Oh well, maybe in my next life.” LOL!!!
Fact: 20% of agents will sell 80% to 85% of all real estate. That means the other 80% of agents to sell very little real estate.
The agent expenses even if you do not sell anything, is way-way more than most people dream about in their worst nightmare.
Median income first 2 years for agents, is $15,300 per year according to NAR and that is before expenses, which are considerable. That is less than Baristas earn at Starbucks.
I was an investment real estate broker from 1972 until I finally retired, so understand the business. Before I went into the business, I spent 1 year+ taking real estate and investment courses, and had 18 years big ticket sales behind me. Due to my education and past experience, I sold a smaller 2 year old apartment house to former coworker, and identical one next door my 4th day, and the next week, exchanged a nice newer 16 unit apartment house for down payment on a large irrigated farm. I only could do it due to my experience, and an expensive year long education. If I worked selling single homes to users, I would not have done as well and probably left the business.
When some one advertises $35,000 to $100,000 a year, run don't walk away.
Oldtrader, one quick question. Based on your professional experience, do you think those “house flipping” workshop/camps are a worthwhile opportunity, or do you think they are basically just a scam, where they just want people to buy super expensive materials and workshops to flip houses, but the end results are usually negative or not as profitable/lucrative as these infomercials claim?
Oldtrader, one quick question. Based on your professional experience, do you think those “house flipping” workshop/camps are a worthwhile opportunity, or do you think they are basically just a scam, where they just want people to buy super expensive materials and workshops to flip houses, but the end results are usually negative or not as profitable/lucrative as these infomercials claim?
Thank you BoBromhal and Oldtrader. I appreciate your help.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
