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What other aspects are there to real estate?

I like to research topics that may help me in the future. I want to know more about everything.
#real-estate

real-estate
Thank you comment icon Hi Will, are you talking about residential real estate? If you can be a little more specific I'm happy to answer your question. Thanks Will G
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Brian’s Answer

When a company gets a real estate loan, it’s often called “small business lending” or “commercial lending.” Loans to people for a house is called a “mortgage” or a “home loan.”

Some keywords to search for around real estate lending jobs are “closer, document specialist, monetary processing, loan quality control, commercial priority services.”

I found some more information about real estate technology online….

“Technology is changing the works of real estate. Real estate technology companies develop and leverage technologies to facilitate the purchase, management, maintenance, and investment into both residential and commercial real estate. This includes sub-sectors like property management software, Internet of Things (IoT) home devices, property listing and rental services, mortgage and lending applications, data analysis tools, virtual reality modeling software, augmented reality design applications, marketplaces, mortgage technology and crowdfunding websites. Popular short-term rental marketplace Airbnb is a real estate technology company, allowing users to list, discover and book travel accommodations around the world.”

Brian recommends the following next steps:

Define the aspects of real estate that you’re looking to know more about.
Tell us why you think knowing about real estate will help you in the future.
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Bob’s Answer

Look into:
- wholesaling
- flipping
- subject to deals
- residential and commercial buy and hold strategies
- seller financing
- You can lease a property and sublet it to someone else and still make rental income without owning the property
- there are so many other ways to participate in real estate. I recommend checking out Tom McKay's YouTube channel: FlipAnythingUSA
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Ben’s Answer

Great question and its awesome that your willing to learn about anything!

If your thinking of working in the field of real estate there are lots of opportunities. People automatically think of real estate agents but there are other jobs as well. For example, Real Estate Appraising is a great field. Whenever a house is being sold or when a mortgage is being refinanced, the bank making the loan wants to make sure the house is worth the amount of the loan that is being borrowed. So the buyer needs to hire an appraiser who does an analysis to determine what the house is worth and sends that report to the bank. The bank then determines whether or not they will make the loan. Appraisers are generally self employed and do great during boom markets, but check your local state's requirements. You generally need to take a few classes, pass a state exam and work as an apprentice for a year or 2 with a licensed Appraiser until you can go on your own.

Another potential field for working in real estate would be as a Home Inspector. Houses also need to be inspected for damage before they are sold. The bank doesn't want to lend money to a borrower for a house that has issues. Again, check with your state about license requirements, as every state differs. You'll still need to take classes that go over electrical, plumbing, structures and I believe there's a state exam to pass also.
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