Skip to main content

My brother became rich quick as a real estate agent and It got me rethinking my life goals..

My brother and I where always opposites when it came to education and life. While we where both talkative people he was always the most popular guy around that everyone loved. I was very locked in throughout college while I prepared for law school. My part time job in college was being an agent in real estate, meanwhile my brother dropped out of college and went all in. I made decent money and bought my first investment property (house hacked a duplex) which is doing fine, but he has been making more money then I may ever see.

While I am a first year law student quickly going into some debt he just made 500k while being only 24... I know he grinds a lot but in a way I get jealous. And what's crazier is that everyone at the firm he works for (small firm like 7 agents) easily makes over $250,000).

I've been studying for years now and still have two years left of law school. While I do enjoy law school and am passionate about learning transactional law with plans of going into commercial real estate...I simply can't help but just wonder if being agent was the path all along.

Either way I'm sticking to my path and will be an attorney no matter what, but I'm just wondering are people really making THAT much money full time in Real Estate? Is the upside that good?

P.s Law school student with two years left until I ever get my first real job.. going into debt while my brother made half a million in his third year of real estate, and all his coworkers are making $250,000 plus..wondering if I choose the wrong path.

submitted by /u/BenjaminWatt
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/11wetdj/my_brother_became_rich_quick_as_a_real_estate/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/