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Re242 2018-2025 Form
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FAQs pass the real estate exam in california proof
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How does the California Bureau of Real Estate changing back to the department of real estate in July 2018 is going to affect real estate agents and brokers in California?
I doubt it will have any effect - it seems to be an issue or how the state wants to organize its agencies.
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Can I pay an out of state real estate agent for a referral in California? If so, how much and does their broker have to be notified?
Referrals, like all payments are broker to broker, not agent to agent. This may sound like a technicality but it is the way it is.It really doesn’t matter if you are licensed in California and the referring broker is in California or in another state, the way it works is the same. The referring agent completes the referral agreement and gets it signed by his broker. He then sends it over to you. You will need to have your broker sign it before you can receive any payment.
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As a entrepreneur (not in real estate) in my mid 30s should I invest in real estate for cash flow out of state or equity growth in California?
It completely depends on:What are your goals?What is your risk tolerance?Investing solely for appreciation is a play in itself. It’s riskier, especially when we are closer to the top of the market like we are now. In a recession, buying in CA is a no-brainer. But prices right now are crazy. So while you’d probably still see appreciation to some degree, it may not be high enough to make up for the costs of buying/owning, especially if you are using a mortgage to buy it.Keep in mind, if you buy for appreciation in CA you will be losing money every month waiting on the appreciation. So negative cash flow every month, crazy property taxes, and if you get a mortgage an absurd amount of interest. So the appreciation you get would have to be massive to be a profit. People don’t realize how high it would really have to be.For more info on buying for cash flow or appreciation, check out-Investing for Cash Flow or Appreciation - What’s the Difference?I live in CA and have always bought out-of-state. Much more in my risk tolerance levels, and interest.
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How does one go about utilizing different real estate agents to find them a home in the state of California?
Different agents? How do you mean different? Do you mean someone with a specialty? a multitude of agents?California is a large state. Even though I am licensed by the state, and can legally sell homes, land and commercial from the Mexican border to Oregon border, Pacific Ocean to the Nevada border, I sell in northern California, with most of my work within a hours drive of Sacramento, though commercial deals sometimes take me further away.When searching for a home, it is best to use one agent, not multiple agents. That one agent has access to almost all of the other agents house listings through the multiple listing service. So pick a region, then pick an agent. If you were to try to use several different agents at the same time, you are not a good prospect for them to work with because that dilutes their chance to earn their livelihood.If the one agent you pick does not pay sufficient attention to your house search, then look for a different agent. If your pick is finding good houses that fit your search needs, stick with her or him.
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How long does it take to close a commercial real estate transaction in the state of California on average?
Most commercial transactions that are banked financed close in 60-90 days. Residential transactions typically take 30-45 days if they are financed. Cash transactions are much much quicker. The thing that holds up these deals longer is the bank underwriting and appraisal process. Commercial buildings take much longer to appraise and underwrite. This is why it typically takes longer to close a commercial transaction.
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How does an out-of-state undergraduate student establish California residency to get in-state tuition at a UC school?
As a UC gradute student I was told that the following steps would establish residency: Open a bank account at a local branch with my CA address as contact info, and if possible, change or cancel other accountsRegister to vote in CaliforniaGet a CA drivers license.I did the first two within a week of arriving, and delayed getting a drivers license until February because I did not drive a car. I was able to be approved as a CA resident after the first year. (I think you are asking for undergraduates, so this may not be pertinent to you specifically, but it also answers the question)
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Is California a bad place to start investing in Real estate? What are the benefits of investing in other states?
California is an amazing place to invest in real estate.Property prices are high, but still super cheap compared to many overpriced cities around the world. Meaning, there's plenty of upside.The population is huge (over 39 million) and still growing rapidly.There's an enormous range of valuation and geographies. You can do deals for $50K or $5M and access both within half an hour drive.The tight regulations are legendary, giving you tremendous opportunity to make huge profits by exploiting the right opportunities.The weather is fantastic so you don't have waste time traveling to enjoy your new found riches.The population is extremely diverse so anybody can find her own specific niche.The rents you can charge as a landlord are pretty amazing. The Bay Area has some of the highest rents in the US and has been climbing by double digits.It's easier to get financing for properties as lenders recognize the quality of location, especially in the two major metro areas.With high growth rates, getting levered returns of 50–100% per year is quite readily achievable.New York has similar characteristics. Washington is a boom town but still remains extremely open to new investors.Other states are relatively stagnant so you'll have to focus on grinding away with decent rental returns that'll remain stable for decades.
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People also ask dre form
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How many questions can you miss on the California rEval estate exam?
While taking the California rEval estate exam By not answering a question you are guaranteed a wrong answer. Remember, you need to answer 105 questions correctly out of 150 to pass (70%).
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Is the NY rEval estate exam difficult?
Passing the New York rEval estate exam is not as hard as you think if you are prepared, calm, and thorough. Commit to the steps above, and you should pass the test no problem and become a licensed rEval estate agent.
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What score do you need to pass the rEval estate exam?
In most states you must have a minimum score of 70%-75% or above in order to pass the test. Some states, such as California, require higher scores for brokers than they do rEval estate salespeople.
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How many questions are on the rEval estate exam?
In general, you should expect your rEval estate licensing exam to be around 100-150 multiple choice questions; this includes about 60-80 state-specific questions, and about 80-100 questions related to generally universal rEval estate concepts. You will have between 2-4 hours to complete your exam.
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What do you need to study for rEval estate?
Be at least 18 or 19 years old (depends on the state) Have legal US residency. Complete your required license education (find your state's requirements) Pass your state rEval estate license examination.
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