>>1035596 Thanks for answering. I was just about to change and head to the gym. explain the whole "everyone makes money hand over fist" part. And how is it that people lose everything? What are they losing besides money?
I mean just think about it logically. Consider a mob. When the mob is feasting it thinks of just one thing: more. Eventually this mentality leads to a collapse of resources and inputs to account for all the risk and taking. Then a crash, then a reverse for a while, then it all repeats.
Ever see a friend who just got a new job making plenty of money?
>>1035709 But it's not 8 years. The last housing bubble was longer than that. It was from 1997-2006. And to say that we're in a bubble right now is somewhat true but to say that we're going to crash anytime soon is a lie.
>>1035735 Then when you become a real estate agent and learn the real estate business and know what the MLS is and what not and real estate trends, you can run your mouth. You're an investor that knows nothing of how selling real estate works.
>>1035745 You can't access the MLS if you're not an agent. Silly silly investor. Must have gotten some of daddies money and started buying up properties and thought he could be the next big flipper. Turns out he's not even doing it anymore. Instead of flipping houses, go flip burgers, you useless fuck.
I bet you wear some gaudy ass gold jewelry and some cheap ass suit to the courthouse when you buy your sheriff sale's
Fuck off, dude. He asked about the real estate business. As in selling homes. As in working as a real estate agent/broker.
He didn't ask for advice on how to invest. If you want to teach someone how to invest, big shot, hold a fucking seminar at a Marriott.
>>1035513 >What facets of the business give it that reputation?
1. High leverage (people leverage their equity like 3, 4, 5 or even 10 to 1 e.g. 100k Net worth for Million Dollar property) 2. High amounts of money 3. Limited liquidity of assets
High leverage in itself is not very unusual but the combination of high leverage and big bets is. In the stock market one might take a high leveraged bet, but usually it's not with all their money on the line. Add to this that real estate is not very liquid and it takes long to find a buyer and you and up with a "cutthroat" business.
>>1035799 >Average down payment is 20%. What the fuck are you talking about? It's easy to find a buyer in this market because there is low inventory. Dumbass. Maybe in your Disneyland US housing market. Not in the rest of the world.
Besides: 20% down payment is still 5:1 leverage. Even with a portfolio margin account this is about the most one can leverage in stocks without resorting to options or other instruments.
>>1035822 Oh so now you have a license. First you were an investor. Now you're a former mortgage broker. And now you have your real estate license. The lies keep piling on, don't they? Stay pleb, pleb.
>>1035832 You need 99 hours in my state in order to go to take the Pearson Vue test. So you don't know shit. Other states it's even more. So yes you DO need to go to real estate school to pass a simple (as you describe it) test. If it were so easy, then why would former realtors have to take it again? Also we're not talking about law or the bar exam. We're talking about real estate.
>>1035842 If I'm buying a house, I don't wanna deal with some pushy agent or realtor with a used car salesman mentality. I want the person who's been continually selling homes and closing deals. You've never sold a home so you don't know what that's like, big shot. You've just done mortgages and investing. Stick to what you know. You don't know anything about selling residential real estate, okay?
>>1035850 >I want the person who's been continually selling homes and closing deals.
Yeah don't listen OP.
Here's the deal- I'm a real estate agent. You hire me to sell a house worth 200k- if I'm a shitbag, I lie to you about the value, say it's worth 190k, I put the house on the market for 190k, sell it same day because it's underpriced, make my commision.
You want the guy that will say- look it's worth 200k, but I think I can beat them up to 205k- because I've been beating up people and nickelling and diming for years.
That guy will work 10 times as long for 10% more money- because he wants to do a good job, and make a name for himself.
Stupid real estate kid will get 195k for that house.
>>1035888 This is why I hate guys like you. Fucking Generation X baby boomers that think they know every goddamn thing. When I was in real estate school, all the top agencies were gunning for me. Keep thinking you know everything, scrub.
>>1035899 I start again in July. Was half way through it back in 2015. Face it baby boomer, you know nothing about real estate sales.
Ever heard of Fredrik Eklund? Tell me who he is without googling him and I'll be impressed.
He's one of the top brokers in NYC. Dropped out of Stockholm School of Business to become a real estate agent. Didn't know anything about America or real estate when he came here and now he's one of the top brokers around.
I admit I'm inexperienced and a novice but that soon will change, pal. You've got a shitty fucking attitude. I wouldn't buy a bottle of water from you.
>>1035513 Oh good, a thread that I can actually comment on.
I don't work in real estate investments but I own several real estate investment properties. They are all cash positive and they are properties that my family has held for several years.
From my experience, most individuals should not engage in real estate investments (besides the purchase of a home). A portfolio of index funds will suit all of their investments needs.
That being said, real estate investment is "cut throat" for two reasons: 1) Easy access by the masses. Most individuals with a stable income could purchase a home in some area and there was little to no due diligence. Those that bought in the wrong areas, either lost their savings or became enslaved to debt. 2) Like all investments areas, there are some evil opportunistic fuckers. It becomes more emotional when you meet the person face to face and shake hands, rather than being decapitated from a computer screen.
Because everyone and their granny knows a realtor. Why would they take a chance with some smarmy newb when they've got a family friend who will give them a 3% discount. If you want to be a realtor expect very little business for the first few years until you can build a client base.
>>1035867 This. It's well know real estate people sell low to churn commissions
>>1035513 for Realtor's, it's because the barrier to entry is low, and it sounds like a easy get rich quick job. For investors, it's because all investor business is cutthroat. storys man... low level judge getting beat up, lawyer lies, etc
>>103643 Gonna be 24 soon. And hick? I thought this was /biz/, not /b/. What's with the name calling?
>>1036500 Then they shouldn't be in the business to be honest with you. If all you care about is your next commission check and not your customer or clients, then you're in the wrong business. Sure, commission checks are great but to sell an undervalued and underpriced home just because it would sell quicker and you'd get a quicker commission is just plain unethical and a dick move.
>>1036531 >salty >nigga >autism >desu >senpai Sorry, I don't speak Ebonics. Can you speak in English for me?
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