Real Estate is the most overrated hustle

freakydestroyer

freakydestroyer

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People tend to think big houses=big money. Reality is most real estate agents sell a house every few months, and get let's say 8-10K commission. If 5 houses are sold in 1 year, he makes 40-50K. That's average salary. Even brokers aren't really seeing as much paper as most people think, most are in the low six figures. The fact that it is fairly easy to pass the exams necessary and the allure of big houses= big money, makes it attractive. To be blunt, real estate is like the epicenter for fake hustlers for the most part. 
 
owning real estate is one of the biggest factors in retiring.

I know a real estate agent who made 30-40k a month when the bubble was at it peak and is down to about 10k a month. That hustle is still making more than getting a degree and a regular job.
 
Been a loan officer for ten years and I have plenty of real estate connects that send me great deals. It's all about who u know
 
Originally Posted by BrotherForReal

owning real estate is one of the biggest factors in retiring.

I know a real estate agent who made 30-40k a month when the bubble was at it peak and is down to about 10k a month. That hustle is still making more than getting a degree and a regular job.
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Exactly, it's a bubble. There will never be money like that again. It's like how the stock market was in the 90's, you could have thrown your money in any tech company and it was bound to get you hundreds of % in returns. Your buddy is probably still seeing decent paper because he has established a good reputation and connections over the years.
 
Just cause u ain't getting paper in this line of work does not mean others aren't lulz. A good salesman makes money nO matter the economy.
 
Originally Posted by tim teufel

Just cause u ain't getting paper in this line of work does not mean others aren't lulz. A good salesman makes money nO matter the economy.
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OP just salty.

I'm an investor and I made more money flipping this year than I have since 2006.
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College dropout that make more money than his teachers..
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Originally Posted by tim teufel

Just cause u ain't getting paper in this line of work does not mean others aren't lulz. A good salesman makes money nO matter the economy.
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Who says I am pursuing it?  Every other week, you see some thread pop up like "Official Hustler's Thread Vol. Young Mula", and real estate always pops up. I'm just giving a heads up to all the guys out there to let them know that more often than not it's not what it seems.
 
Originally Posted by MyJaysGetRocked

It's definitely not what it used to be, that being said, there is still a lot of money to be made.
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Especially remodeling and flipping... damn.
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That's not a heads up let someone give it a shot. There is money in it for Plenty Of people I know who are making more money now than back in the refi boom.
 
Originally Posted by VaGixxer

Originally Posted by tim teufel

Just cause u ain't getting paper in this line of work does not mean others aren't lulz. A good salesman makes money nO matter the economy.
Click to expand...

OP just salty.

I'm an investor and I made more money flipping this year than I have since 2006.
smokin.gif


College dropout that make more money than his teachers..
smokin.gif
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Did you real my post or just the title? I was referring mostly to real estate AGENTS. You think most guys on here have enough money to invest? Most likely, they are going to be agents because it is easy to just pass the test, put on a nice outfit, and give tours. Most of them are not living in the houses they are selling, maybe even living paycheck to paycheck. I pop my collar to you for going against the grain, and going another path after realizing college is not for you. For what it's worth, you know damn well teachers and professors aren't racking in much.
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Op. Imagine being an agent who flips. That's what my boy does as well. I did 2 houses with him but right now all my money is tied remodeling my house but if you have good credit...try it.

You can get condo's in texas for 18-30k. rent them..you're getting paid to do nothing but transfer your mortgage every month. In a few years sell for 80-100k. profit.

The last deal we pursued was a 200k probate deal. 2 story craftsman. We had to put 60k into it but it sold before we were done for 420k. We had no agent fee cause he was the agent and after taxes and closing we came away with about 60k each.
 
Originally Posted by BrotherForReal

Op. Imagine being an agent who flips. That's what my boy does as well. I did 2 houses with him but right now all my money is tied remodeling my house but if you have good credit...try it.

You can get condo's in texas for 18-30k. rent them..you're getting paid to do nothing but transfer your mortgage every month. In a few years sell for 80-100k. profit.

The last deal we pursued was a 200k probate deal. 2 story craftsman. We had to put 60k into it but it sold before we were done for 420k. We had no agent fee cause he was the agent and after taxes and closing we came away with about 60k each.
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Props. But look you needed a great deal of capital and connects to pull it off. This goes beyond the run of the mill real estate agent who just shows up to work everyday. How long did this deal take all together? And how often can you do this?
 
^^^It took 4 months from close to close. The last month of the remodel, the buyer was in escrow so they actually waited a few weeks for all the grouting and painting.
He started when the bubble burst and he had a lot of foreclosures, short sales on his matrix. His credit was so so but at one point he was over extended and asked me to go in on one with him. I was hesitant at first cause I have my own mortgage and issues to deal with but when he put down on paper, it made sense.
 
I'm a R.E. agent but, I don't sell houses and I never plan on to. Why try to sell a house which takes months just to make 10K when you can rent about five apartments in a week and make that much. Around this time it's slow but you make so much during spring, summer, and early fall it doesn't really matter. I'm definitely going for my broker license this year.
 
I'd rather buy homes and fix them up and then sell. Actually renting the home out isn't too bad until the house needs repair and you're on the hook.
 
Originally Posted by VaGixxer

Originally Posted by tim teufel

Just cause u ain't getting paper in this line of work does not mean others aren't lulz. A good salesman makes money nO matter the economy.
Click to expand...

OP just salty.

I'm an investor and I made more money flipping this year than I have since 2006.
smokin.gif


College dropout that make more money than his teachers..
smokin.gif
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Cheers to your hustle, but don't think that this means much of anything.. as if even the most esteemed professors are pulling in boatloads of ca$h 
grin.gif

stay on yo grind doh plehboi 
pimp.gif
 
Originally Posted by MoreUptempo

Originally Posted by VaGixxer

Originally Posted by tim teufel

Just cause u ain't getting paper in this line of work does not mean others aren't lulz. A good salesman makes money nO matter the economy.
Click to expand...

OP just salty.

I'm an investor and I made more money flipping this year than I have since 2006.
smokin.gif


College dropout that make more money than his teachers..
smokin.gif
Click to expand...
Cheers to your hustle, but don't think that this means much of anything.. as if even the most esteemed professors are pulling in boatloads of ca$h 
grin.gif

stay on yo grind doh plehboi 
pimp.gif
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Possibly, but some of the legit professors in my university are getting paid pretty nicely imo. I looked at a public website and damb, the ones with tenure are averaging about 20k per month, if not more.
 
false
depends on who your target market is
i sell to reo/foreclosures to investors. sell 3-5/month
 
Depends on your area, my area it isn't smart to try and flip, it's all about the rent game I live in a military area and that BAH has rent prices high as hell down here
 
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