Frequently Asked Questions

FAQ

What is the toughest thing about being a real estate agent?

One of the toughest parts of the job is that long hours can be a significant challenge for real estate agents –– whether a new agent just starting in the business or an experienced agent. And to grow a successful business and meet the need of clients, realtors often need to work well beyond the typical 9-5.

Can you do wholesale real estate remotely?

Virtual wholesaling is a real estate investing strategy where you put properties under contract and flip them to cash buyers… without seeing the property in-person.

Is it hard to wholesale real estate?

Running a wholesaling business can be challenging because you must be able to identify properties being sold for well under market value, negotiate deals with sellers, and target cash buyers who are willing to purchase those properties.

How to wholesale a house step by step?

How To Wholesale Real Estate

1. Look Into Local Wholesaling Laws. For starters, you must be sure the process is legal.
2. Find A Distressed Property Or Motivated Seller.
3. Calculate Your Expected ROI.
4. Make An Offer And Negotiate.
5. Draw Up a Contract and Sign.
6. Find a Buyer and Negotiate.
7. Assign the Contract to Your Buyer.

How do I start a virtual wholesaling real estate?

5 Steps To Virtually Wholesaling A Property

1. Step #1: Find Motivated Sellers.
2. Step #2: Connect With Seller.
3. Step #3: Assess Property Value And Repair Costs.
4. Step #4: Negotiate Sale Cost & Put Title In Your Name.
5. Step #5: Find A Contract Buyer.

Can you really make money wholesaling real estate?

The Bottom Line Wholesale real estate offers beginners the opportunity to start investing in real estate. It usually involves little or zero capital investment. With experience, wholesalers can get several deals working at the same time and make a sizable profit quickly.

How to do wholesale real estate step by step?

How To Wholesale Real Estate

1. Look Into Local Wholesaling Laws. For starters, you must be sure the process is legal.
2. Find A Distressed Property Or Motivated Seller.
3. Calculate Your Expected ROI.
4. Make An Offer And Negotiate.
5. Draw Up a Contract and Sign.
6. Find a Buyer and Negotiate.
7. Assign the Contract to Your Buyer.

How risky is real estate wholesaling?

Minimal risk: No investment is 100% risk-free, but since wholesaling real estate does not require you to buy or hold properties or find financing, wholesaling has a relatively low risk in comparison to its potential payoff.

How long does it take for you to study in real estate?

Factors that Affect How Long Real Estate School Takes Each state has different pre-licensing requirements for how many course hours are needed to earn your license. The state of California requires 135 Hours of Pre-License coursework. This consists of the following courses: Real Estate Practice (45 Credit Hours)

How much is the course for real estate

How long do most people study for real estate exam?	You should study for the real estate exam for at least several weeks before your test date. The whole point of taking your pre-licensing courses is to prepare you, first for the exam, and then for your work as an agent, so really, you should be thinking of your courses as exam prep time as well.
Is real estate major hard?	How Hard is Real Estate School? A real estate education will be challenging, especially if you don't have prior experience. The courses you take in a California real estate school are college-level, so there is a degree of difficulty, particularly for some students.
Do you need a license to wholesale real estate in Texas?	No, you don't need a license to wholesale real estate legally in Texas. However, as a licensed agent, you won't be bound by assignment contract limitations or how you can market a property once you have an agreement with the seller in place. When you as an agent, you'll collect a commission instead.
What states is wholesaling real estate illegal?	Wholesaling real estate is legal in all 50 states, but there are specific laws and regulations you must follow to ensure you're in full compliance.
How much does it cost to take the Virginia real estate exam?	$60 per attempt Virginia Real Estate Exam Cost: $60 per attempt You'll need to pay a $60 fee every time you sit for the Virginia Real Estate Exam. With the right planning and preparation, you should only need to take the test once, but keep in mind that the results are only good for one year.
How much does an average realtor make in Nebraska?	How much does a Real Estate Sales Agent make in Nebraska? As of Oct 18, 2023, the average annual pay for a Real Estate Sales Agent in Nebraska is $76,501 a year. Just in case you need a simple salary calculator, that works out to be approximately $36.78 an hour. This is the equivalent of $1,471/week or $6,375/month.
Can I start wholesaling with no money?	You can wholesale houses without money, but it will relatively slow your process. With zero funds, you have to look for free wholesale contracts and tools. By the end of the process, the seller sells the house, the buyer purchases a house, and the wholesaler earns a fee for acting as the middleman.
How long is real estate school in Oklahoma?	In Oklahoma, a student or licensee is expected to spend at least 4 days in an accredited real estate licensing course or program. The courses are Colibri are available for durations between 4 days and 6 months.
How much is the real estate exam in Virginia?	$60 per attempt Virginia Real Estate Exam Cost: $60 per attempt You'll need to pay a $60 fee every time you sit for the Virginia Real Estate Exam. With the right planning and preparation, you should only need to take the test once, but keep in mind that the results are only good for one year.

• How much is it to get your real estate license in California?
  • How Much Does It Cost To Get A California Real Estate License?

    Course Tuition	$100 - $400+
    Background Check	$40
    Salesperson License Fee	$245
    Examination Fee	$60
    Total	$445 - $745

• Is it hard to get into wholesaling?
  • Wholesaling real estate in California can be difficult because state laws require licensing for those who market properties or advertise their wholesaling services. Wholesalers who don't have a license but advertise their properties can incur penalties of up to $20,000 plus legal costs.
• What is the 70% rule in wholesaling real estate?
  • Basically, the rule says real estate investors should pay no more than 70% of a property's after-repair value (ARV) minus the cost of the repairs necessary to renovate the home. The ARV of a property is the amount a home could sell for after flippers renovate it.
• Is real estate wholesaling worth it?
  • It is entirely possible to make a lucrative career out of each strategy. While wholesaling generally makes less money per deal, the short-time period will make up for lower returns in volume. Flipping, on the other hand, will see investors complete fewer deals but also increase profits.
• How to do real estate wholesaling
  • Real estate wholesaling is a strategy in which a wholesaler obtains a contract on a property with its seller, and in turn sells the contract to an investor.
• How much is it to get a real estate license in Colorado?
  • How Much Does It Cost to Get Your License in Colorado?

    Fingerprinting Fees (vary by location)	$20.00-$40.00
    Background Check	$39.50
    Errors & Omissions Insurance (varies - check with your soon-to-be Managing Broker)	$200.00-$400.00
    Application Fee	$485.00
    Total	$950.00-$1,050

• How much is it to get your real estate license in Texas?
  • Between $1,000 and $1,500 The cost to get a real estate license in Texas is between $1,000 and $1,500 and takes 4-6 months on average. This means you can begin your new career and be just as, if not more, financially successful without debt and with many years to spare.
• How fast can I get my California real estate license?
  • TL;DR: Getting a real estate license in California typically takes 3-6 months. The process includes completing a pre-licensing course, passing the state exam, and completing background checks. The timeline may vary depending on individual circumstances.