How can I state on my resume that I took time off to manage my personal real estate investments?
I resigned from my job at the end of last year because it was getting difficult for my husband and myself (both employed) to manage new construction we had invested in not only in Chicago but also in New Jersey. I want to list it since I think my employment gap may be a cause for top candidacy and I don’t want to lie. A reply is appreciated. thanks!
I’d state it in a similar way as you stated it for this forum.
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Managed personal real estate investments in Chicago and New Jersey.
Follow up with a short blurb about all of the different types of things that successfully managing new construction investments involves including coordinating materials supply, managing construction schedules, staffing, budgeting, etc…
How do i transfer the gain of a real estate transaction from a corp to a new LLC w/out paying the tranfer tax?
My corporation sold its building located in NYC. I am taking those funds and investing in a1031 exchange. Most likely a NNN property. I need to form a new company and move it out of NYC to avoid the city tax on the income of my new investment. It’s my understanding I can tranfer assets from one company to another and avoid the transfer tax provided I follow certain criteria. Is anyone aware of the ins & outs of this process?
Are you serious??? You didn’t have a lawyer for this transaction you have to a ask this question here??
Real Estate Investment Success Series Tip #5 -3 Ways To Get More Out Of The Real Estate Agent If You Are The Buyer
This article is part of the Real Estate Investment Success Series and continues from http://www.realestateinvestment101.info/realestatebargain.html
Real estate brokers are the greatest asset of small investors since brokers deal with more properties than the individual real estate investor could ever deal with. That said, however real estate agents usually act for the seller so tend to act directly opposite to that of the buyer. In addition, their commission depends on the price that they can sell the property, so the higher the price they sell the more they can earn.
This article acknowledges this and lists four things you can do to get the most out of the real estate agents that you meet when you are shopping for your next real estate investment deal.
Tip #1- Use their knowledge
Most people know that some places have higher rental yields than other similar properties in the same class of real estate. If you are new to an area, you would want to tap on the vast knowledge of the real estate agent’s local knowledge. Ask him what areas command a better rental and why. Then ask him to show you those properties. In this way you would get a better return on investment as opposed to him showing you the properties he wants you to see.
Choosing a property in a good area good as it allows you have a maximum upside when the economy turns around. Let the real estate agent know that you are a committed real estate investor and when he knows that you might be a potential return purchaser, he will let you know of any new real estate deals that come his way that might interest you.
Tip #2- Go early to scout out the area
This is a simple tip that most people seem to miss out when looking for a real estate property. If you are the potential buyer, spend some time going to the property in question earlier then the said time and check it out. You want to spend some time observing the neighbourhood and talking to the neighbours so that you can find out all you can about the neighbourhood before you talk to the real estate agent who would try to paint a glowing picture of the area. Look out for things like crime problem, bad neighbours and other things that can turn away potential tenants.
For commercial property real estate investments, you might want to go there a day before so as to scout the area for the purpose of ascertaining walkthrough traffic. The greater the walkthrough traffic the higher your potential rental returns. Its no good purchasing a commercial property in an area that has no visitors since your rental returns would be very low.
Tip #3- Compare stories with other agents
Once you have figured out what type of real estate investment property you are interested in and what area you want, you would want to make appointments with several real estate agents so as to learn more about the potential area that you are acquiring property in. Since real estate agents are competing with each another so you can find out the downside of another agent’s proposed property at no charge at all.
In addition to learning the downside of your possible real estate investment, some of these real estate agents can give you valuable information that you can use tell your prospective tenants to rent out your property like for instance proximity to bus stations, the proximity to the subway, low crime rate and secured vehicle parking.
Tip #4- Get an agent that is qualified and in a medium to large agency
In general novice investors should contact a long-established real estate agent that is very familiar with the area that you intend to invest in. The reason is that you want an agent that knows that area very well and knows what properties are on sale and a bargain. The agent will also be able to tell you which areas are good for rental purposes and these areas should be the areas that you should spend your energy on.
Another thing to take note is that your agent should be a medium to large agency so as to gain access to a large database of properties for sale and rental. This would facilitate your search for high rental yielding properties through the agent. A medium to large real estate company would also not fold so easily and leaving you in the lurch while in the midst of a real estate transaction.
In conclusion, real estate agents are a useful part of the real estate investment process but if you mentally know what you want, you can benefit greatly from their years of industry knowledge. Effective real estate investment requires education and massive action on your part.
About the Author
Joel Teo takes a keen interest in real estate investment as part of a larger investment portfolio. For more tips on real estate investing check out our real estate investment success series
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I can’t decide what to major in…and where! I want to do work in the investment/securities field(s) (Investment Banking, Real Estate, Stocks/Bonds, Insurance…I think you get the idea). What would be my best option?
Should I get a BA in Economics with an emphasis in Business? Or, a BS in Business Admin…with emphasis in Finance?
I plan to go on and get an MBA after…and I’m sure you can tailor those those finance, so I’m not sure if that makes a difference.
Next, which school would be better between CU Boulder and DU Denver for undergrad? I know DU has a 5 year MBA program…are those good?
Note: I want to work for myself, and therefore I really won’t be trying to impress anyone school wise, but I want a good education, and one that I really come out of it learning stuff. I have a half schlorship (can be taken away if GPA falls in college) from DU. Nothing from CU, but it’s cheaper there even with the scholarship.
Hey!
A degree in business administration is good if you want to run a business. But it won’t necessary help you become a good investor.
On the other hand, if you want to go into investments/securities, developing a good understanding of economics/ finance is helpful because it’s important for you to able to assess the national and global financial markets and country risk in order to know where, when and how to invest.
Don’t get stuck on which university of the two to apply to. Get into the one that you like the best and are most comfortable with. Either one will serve your needs, because to be a good student, the onus is really on the student to learn and less on the university to teach.
This means that you can go to a top tier university, but do poorly if you don’t study, or you can go to an average university and do very well, because you put in the time and effort.
Your success in school and in your career is really up to you!
Good luck!
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