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How to Make Money in Real Estate Rentals

How to Make Money in Real Estate Rentals

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Published by nathanjhq
Find out about greta opportunities to make money in a declining real estate market
Find out about greta opportunities to make money in a declining real estate market

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Categories:Types, Business/Law
Published by: nathanjhq on Jan 21, 2012
Copyright:Attribution Non-commercial


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 ==== ====To find out about the simplest and fastest way to earn money from real estate click here:http://www.earn-riches-with-rentals.com ==== ====It is commonly believed that one the safest investments is a real estate investment. Stocks can falland currency can depreciate - we have seen both in the last few months. The real property doesfall not as compared to the other liquid assets. This is one of the prime reasons of continuousinvestment in the real estate sector. This sector also suffers in the recession periods but not toomuch. Prudent agents are making huge incomes annually. This article reveals the prerequisites ofbecoming a real estate agent in the state of Texas. Age and Legality To become a real estate agent in Texas, the individual must be at least 18 years of age or olderand a legal resident of Texas. An individual whose name is in the default list of Texas GuaranteedStudent Loan (TGSLC) is not entitled to get the license or renew the license. This clause isineffective if the individual is in the agreement of repayment. Fingerprint Requirements According to a new law, it is mandatory to provide fingerprints to the commission in a specifiedformat to run an FBI criminal history check. This requirement is only for those individuals who wantto become a broker and salesperson - it does not apply to other Texas Real Estate Commission(TREC) licensees. Education Requirement An individual who is interested in obtaining the license must have completed 210 classroom hoursthe following courses: Principal of Real Estate core real estate course (60 hrs); Law of Agencycore real estate course (30 hrs); Law of Contracts core real estate course (30 hrs); an additionalcore real estate course (30 hrs); and another 60 hrs (4 semester hours) core or related courseapproved by the commission. Scrutiny of Educational Document Scrutiny of the educational documents is also a vital step. Individual must provide the proof ofsuccessful completion of the courses. Credit transcripts or Certificates is the acceptable form ofevidence. There is no need to send the original certificates, photocopies are sufficient. The commission charges $30 (for the whole year) for verifying the documents. The commissionnormally takes 10 days to verify the documents and informs the individuals itself about their
verified credentials. Filling ApplicationOnce your credentials are endorsed, the next step is filling the application. It is important toremember that you must complete the verification process prior to filling the application. Neversend the application along with the request of evaluation and fee. Applications can be submitted online and via snail mail. Applications send by snail mail take muchlonger time; thus, we advise that go for the online method, fast and easy. The commission does not accept the incomplete applications and applications without the fees. Ifan individual is sending fees via mail then he/she must make sure that he/she has made only onecheck (don't pay separately) or money order payable to the Texas RE Commission. The originalapplication fee is $94.50 and Recovery Trust Account fee is $10.00. Texas RE Salesperson Examination Once an individual receives a notification towards TREC that all of his/her documents are certified,he/she can proceed to the take the Texas Real Estate Salesperson Exam. After approving theapplication, the TREC will send the (Candidate Information Brochure) CIB that contains all thenecessary information regarding the examination. The examination is based on multiple choice questions and administered by PSI (an authorizedtesting center). The duration of the test is 150 minutes (45 minutes and 105 minutes for state andnational parts respectively). Sponsorship is Important It is vital to remember that inactive salespersons and applicants are not eligible to work as anagent until they arrange for a Texas real estate broker holding (active license) to sponsor them assalespersons. To save the time, an individual can file the sponsorship request along with the salesperson'slicense application. In a nutshell, like every state, the Texas Real Estate Commission has set certain rules andprocedures that must be followed to get a salesperson or agent license. It is highly recommendedthat interested individual must send their complete applications electronically as documents sendby snail mail takes ages to complete the process. Moreover, it is extremely important that an active licensed individual must not act as a real estateagent unless he/she is sponsored by a broker holding that possesses an active license. Have a nice Career! Syed Rehan is the Founder and CEO of ParaphrasingMatters.com that provides paraphrasing

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