Second Career

[Ranching]

Some of you know that I recently retired after 30 years of coaching. Since I'm still relatively young at 51, I decided to start a second career. I've invested in real estate for over 20 years so I took an online course and got my Real Estate license. I start full time on January 2nd.
If there are any realtors out there, I'd appreciate any advice you can give. If not, I'm curious if any of you have ever changes careers.

 

[CF74]

Understand market trends based on who is in office.. Look at 10-20-30 year Spikes and Dips..

This last collapse 2008/2009 was caused by relaxed lending laws that were passed by BC. People were getting loans they couldn’t afford, it was chaos and then boom, it all crashed. Those that were patient cashed in on the foreclosures..

Is there a spike or decline in construction today? Are there more or less rental houses available today? That’s a huge tell.. Has the market peaked, plateaued, or is it about to dip again?

All these things can vary by city, county, and state....

 

[Ranching]

Understand market trends based on who is in office.. Look at 10-20-30 year Spikes and Dips..

This last collapse 2008/2009 was caused by relaxed lending laws that were passed by BC. People were getting loans they couldn’t afford, it was chaos and then boom, it all crashed. Those that were patient cashed in on the foreclosures..

Is there a spike or decline in construction today? Are there more or less rental houses available today? That’s a huge tell.. Has the market peaked, plateaued, or is it about to dip again?

All these things can vary by city, county, and state....

Good stuff! I've taken advantage of the last crash by flipping a few properties on South Padre island. We seem to be on an uptick down here. The Valley keeps growing and there are a couple of businesses opening up down here that will be looking for about 1,000 workers. That's a lot in our area. At the end of the day, I'm doing it as a hobby, but I would love to be successful at it. Making a little extra money is always a good thing. Salud!

 

[CF74]

Good stuff! I've taken advantage of the last crash by flipping a few properties on South Padre island. We seem to be on an uptick down here. The Valley keeps growing and there are a couple of businesses opening up down here that will be looking for about 1,000 workers. That's a lot in our area. At the end of the day, I'm doing it as a hobby, but I would love to be successful at it. Making a little extra money is always a good thing. Salud!

You are tempting me to invest down there!!!

 

[yimyammer]

This last collapse 2008/2009 was caused by relaxed lending laws that were passed by BC. People were getting loans they couldn’t afford, it was chaos and then boom, it all crashed. Those that were patient cashed in on the foreclosures..

perfect example of how the road to hell is paved with good intentions

 

[CF74]

perfect example of how the road to hell is paved with good intentions

I’d say it was deliberate...

 

[JackOfNoTrades]

spend less time on CZ and get out in the field. Seriously though, it all comes down to your inventory as a listing agent. If you're working at a RE office, volunteer to man open houses and do as many as your time permits. This will give you opportunities to meet more and more prospective buyers where you can represent them on their search. RE is a snowball affect profession where it takes time to build your clientele. They say every transaction (buy/sell agent) you complete results in approx. 2.5 additional transactions down the road mostly due to referrals, etc.

 

[John813]

I’d say it was deliberate...

I have a feeling it's starting up again.

I was anally probed back in 14 when I bought my house that was way under my D/I ratio and waayyy under the max I could afford.
Just last month a family in-law got approved for a 320k loan when they make a tad over 70-75k combined. They have next to no savings too and scrapped by on a lower rent $.

 

[Ranching]

spend less time on CZ and get out in the field. Seriously though, it all comes down to your inventory as a listing agent. If you're working at a RE office, volunteer to man open houses and do as many as your time permits. This will give you opportunities to meet more and more prospective buyers where you can represent them on their search. RE is a snowball affect profession where it takes time to build your clientele. They say every transaction (buy/sell agent) you complete results in approx. 2.5 additional transactions down the road mostly due to referrals, etc.

Thanks, great advice! Because of my previous profession, I'm pretty well know down here. This has already helped me line up a couple of listings. Gonna see if I enjoy it, if I do then I'll get after it. My wife retires in May, if I like it she will get her license and serve as my assistant.

 

[YosemiteSam]

Understand market trends based on who is in office.. Look at 10-20-30 year Spikes and Dips..

This last collapse 2008/2009 was caused by relaxed lending laws that were passed by BC. People were getting loans they couldn’t afford, it was chaos and then boom, it all crashed. Those that were patient cashed in on the foreclosures..

Is there a spike or decline in construction today? Are there more or less rental houses available today? That’s a huge tell.. Has the market peaked, plateaued, or is it about to dip again?

All these things can vary by city, county, and state....

They are starting to repeal Dodd/Frank which mean the lending practices are about to return. Upfront Boom with a coming BUST is on deck.

 

[Ranching]

They are starting to repeal Dodd/Frank which mean the lending practices are about to return. Upfront Boom with a coming BUST is on deck.

I'll take the boom and retire again before the bust. Lol, actually it' not funny. A lot of people suffered through that last time it happened.

 

[CF74]

spend less time on CZ and get out in the field. Seriously though, it all comes down to your inventory as a listing agent. If you're working at a RE office, volunteer to man open houses and do as many as your time permits. This will give you opportunities to meet more and more prospective buyers where you can represent them on their search. RE is a snowball affect profession where it takes time to build your clientele. They say every transaction (buy/sell agent) you complete results in approx. 2.5 additional transactions down the road mostly due to referrals, etc.

Good one, I forgot about volunteering for open houses. Did that back in 1997, damn time flies.. I listed somebody else’s house once in one of those real estate magazines just to get my phone to ring. Even the listing agent called me lol

I’m lucky they didn’t report me lol

Fun times...

 

[LittleBoyBlue]

Some of you know that I recently retired after 30 years of coaching. Since I'm still relatively young at 51, I decided to start a second career. I've invested in real estate for over 20 years so I took an online course and got my Real Estate license. I start full time on January 2nd.
If there are any realtors out there, I'd appreciate any advice you can give. If not, I'm curious if any of you have ever changes careers.

Best of luck! ;-)

 

[Rockport]

Understand market trends based on who is in office.. Look at 10-20-30 year Spikes and Dips..

This last collapse 2008/2009 was caused by relaxed lending laws that were passed by BC. People were getting loans they couldn’t afford, it was chaos and then boom, it all crashed. Those that were patient cashed in on the foreclosures..

Is there a spike or decline in construction today? Are there more or less rental houses available today? That’s a huge tell.. Has the market peaked, plateaued, or is it about to dip again?

All these things can vary by city, county, and state....

The last collapse was due to trickle down economics which has always been followed by recession. Don’t want to say more because it gets too political.

 

[dallasdave]

Thanks, great advice! Because of my previous profession, I'm pretty well know down here. This has already helped me line up a couple of listings. Gonna see if I enjoy it, if I do then I'll get after it. My wife retires in May, if I like it she will get her license and serve as my assistant.

She will be the BOSS

 

[Ranching]

She will be the BOSS

Already is!

 

[CF74]

The last collapse was due to trickle down economics which has always been followed by recession. Don’t want to say more because it gets too political.

Yeah was mostly referring to the real estate collapse but I’m sure that economics thing played its part as well...

 

[TheDude]

The last collapse was due to trickle down economics which has always been followed by recession. Don’t want to say more because it gets too political.

wrong. no tax cut or trickle down economics made someone take out a negative am loan or made mortgage brokers tell clients to lie (NINJA) loans or made banks lend it, Stupidity across the board (and most by the regulators watching porn on their desk versus doing their job)