Buying a home is a major decision because it involves choosing a place where you will live for a number of years. This decision also has major implications on your financial status because of the usually high cost of homes and the loan applications that accompany such purchases.
Due to the enormity of the decision of purchasing a piece of property, most buyers solicit the help of real estate agents. Real estate agents are persons licensed by the government of a certain jurisdiction to handle real estate sales. Usually, real estate agents are under the employ of real estate brokers who can be either individuals or companies that have overall responsibility for the actions of real estate agents. There are also instances when real estate agents use the services of real estate appraisers to help them determine the market value of a home that is put up for sale.
Getting a License
Given the delicate and complex nature of real estate transactions, it is important that buyers get the right information so that they are properly guided in their decisions. Real estate agents, brokers, and appraisers need to have an understanding of the market and the technical aspect of real estate. To be able to get a level of competence in real estate, these persons need to take courses on the different aspect of real estate and take a licensing exam so that they can be certified by the state as persons who can handle real estate transactions.
Traditionally, people who wish to become agents, brokers, and appraisers enroll in institutions that offer courses on real estate subjects and take the subsequent exams for licensing afterwards. However, it is now possible for people who to take these courses in the comfort of their own homes because online courses are available on the Internet.
A search on the Internet can lead to you to a large number of online schools that offer real estate courses. Under this set-up, students enroll online, receive their materials through e-mail and they take exams online. These online courses promise that taking these courses is the same as or even better than the traditional way because students do not have to deal with the problems of traveling and face to face communication with instructors. These courses also offer review lessons on how the students can improve their chances in the licensing exams given by the government. Apart from being more convenient, these online courses also offer potential agents more opportunities since real estate courses on the different states are also offered. Given this new development, people who wish to be agents can now also avail of the benefits that the Internet offers.
Free Online Real Estate Course – Stopping Bad Tenants
Bad tenants can ruin a good building. If some tenants create hassles for others, then you want to know about it before you structure your offer to buy the property. Problems within a property and problems with disruptive tenants can adversely impact vacancies, turnover, and rent collections. On occasion, leases and application data do not portray the true facts about a property’s tenants. At times, sellers create phantom leases with false data. Absent outright fraud, though, talks with tenants might reveal rent concessions that aren’t recorded in the written file that you were given to review. You might also find that some units are being sublet or are otherwise occupied by residents who aren’t on the lease and may never have completed a rental application. Before you buy, put together a rent roll that’s as accurate as possible.
Otherwise, both your NOI and cap rate (risk rate) figures may err. When you shop for property, divide the problems you find into two piles: economically unsolvable and opportunity laden. As your talks with tenants reveal the strengths and weaknesses of the as is property, you value it as it stands today. But also think how you might profitably improve it tomorrow. Through the eyes of a critical buyer, you itemize its faults and profit-draining negatives. Through the eyes of an entrepreneurial investor, you visualize ways to turn lead into gold.
Check the rent data an owner gives you against the rent levels of the competitive units that you’ve looked at. “You say you’re getting $850 a month for your two-bedrooms? That surprises me. I haven’t found any other 2/2s in the neighborhood that are asking over $775 a month. How do you attract renters who pay $850?” You may not want to question so bluntly, but to negotiate a reasonable price for the property, you can’t merely accept rent reports that test credulity. On the other hand, maybe the building does include some attributes that warrant higher rents. (Though I would hesitate to buy a property at the top end of a neighborhood rent range. With fully priced rent rates, your ability for upside is heavily anchored.) Leases or not, your knowledge of the market adequately informs you about the amount of rent collections that you can expect a property to yield in its current physical condition and with its current management practices.
Likewise, to estimate rent collections after improvements, ignore sellers’ inflation “All you need to do is paint and re-carpet these units. You can easily get another $150 a month. I would have done it myself, but I’ve just been too busy at the restaurant I own.” Maybe the seller’s right, but you won’t know until you’ve actually visited and inspected a fair sampling of competing properties.
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Pros and Cons of Taking an Online Real Estate Course
Are you interested in making money through real estate investments? If you are, you may have heard of online real estate courses before. Have you? If so, you may be interested in taking one. The only question is should you? When it comes to taking an online real estate course, there are a number of pros and cons to doing so; pros and cons which may impact your course taking decision.
Perhaps, the biggest pro or plus side to taking an online real estate course is the information that you will walk away with. Although real estate investments are a great way to make money, it isn’t for everyone. By taking an online real estate course, particularly one that has a focus on investment properties, you should be able to learn the ins and outs of making money with real estate properties. In addition to outlining exactly what real estate investing is, an online real estate course should also give you plenty of tips; tips that may help you get rich.
Another pro or plus side to taking an online real estate course, especially one with a focus on real estate investing, is that it is easy to do so. Since the real estate investment business can be considered a tricky one, you may not want to put all of your eggs in one basket. This means that if you are currently working, you may continue to do so or keep on searching for other ways to make money, while still taking a real estate course. This is where the internet can offer you assistance. Many online real estate courses allow participants, like you, to work at their own pace, whenever they have time to do so. Essentially, this means that whether you would like to learn about real estate investing in steps or all at once, you should be able to do with an online real estate course.
Another pro or plus side to taking an online real estate course, especially one that has a focus on real estate investing, is the choices that you will have. There are a number of online learning centers that offer real estate investing courses for you to take. When choosing an online real estate course, you are advised to thoroughly examine all of the course information given to you. Examine the points or topics that will be discussed, as they may give you insight into whether or not a particular an online real estate course can offer you assistance.
Although there are a number of pros or plus sides to taking online real estate courses that teach you about real estate investing, there are also a number of cons or downsides as well. One of those cons is the cost. Real estate investment courses can sometimes be considered high priced. With that in mind, however, you are advised to remember that there are a number of online real estate courses for you to choose from. So, even if you are on a budget, you should still be able to find at least one affordably priced real estate course that could offer you assistance.
The above mentioned online real estate course pros and cons are just a few of the many that exist. To determine whether or not you can benefit from taking an online real estate course, you will want to make your own in-depth list and compare your findings.
Things to Consider in Taking an Online Real Estate Course
Online education is very timely. There are lots of online schools opening their doors to those who want to enjoy studying in the comfort of their homes. There are lots of options today when it comes to online school. You can choose among the widest selection of courses depending on your needs. You can also pick your own school regardless of your location.
The wonders and benefits of using an online school today are really incomparable. Those who aspire to be a real estate agent can now take a real estate course online even if they are studying or working at the same time. There is no limitation to what you can do aside from learning and enhancing your skills, through the use of computer, multitasking is simpler nowadays.
Being a certified real estate agent is now possible with the help of an online school. You can easily enroll no matter where you are. Education is just within your reach. Enrolling in an online class is more economical and practical than entering a regular school. You are not the only one thinking about pushing through an online real estate course.
There are millions of people today who aspire and actually plan to get a certificate course in real estate these days. Most of these people will put up their own business sooner or later. You too can enjoy this type of career if you will enroll in an online school. There are certain things you need to consider when you plan to study online, here are some of them:
1. You need to check if the course you want is still available. If you stumble upon a site that does not offer real estate course anymore, there are still lots of sites that offer the same course. All you need to do is browse through the web because there are thousands of schools globally that will help you out with your needs.
2. Take a closer look at the cost. Most of the time, schools vary in prices. If this is the case, you need to find the right school that will not allow you to spend a lot of money for a few months of learning. There are lots of economical friendly schools online; all you need to do is browse through the web thoroughly.
3. You also need to consider the length of the class and the schedule. If you are a working person, you may need to find the right schedule for your needs. It can be during night time if you are working during the day. You can also do vice versa if you are working on a night time.
Online schools really provide help to those who cannot go to conventional schools. Homemakers and full-time mommies can also add their knowledge through online schools. You may need to browse through the web to be able to find the best for your particular needs.