I just wanted to thank you. I took my real estate agent test today and passed it on the first try. I didn't go to your school because I didn't know about you. I was getting frustrated studying . I went to youtube and I came up on your videos. I watched day and night. I started to fully understand what I was studying and connect the dots. If it wasn't for your videos I don't think I would had passed. Thank you so much. To everyone out there he is good Thank you
That’s such great news, and thank you for taking the time to leave this comment! You’re the one who put in the hard work but I’m so happy I could be a part of the process! Congratulations and best of luck- hope to see you out in the field one of these days!!
Literally my very first comment on UA-cam. I’ve been watching PrepAgent and a bunch of other guys for over a month and failed my real estate exam 4 times. I watched your videos for 2 days and passed both my state and national exams yesterday. Thank you so much for helping me understand the vocab and definitions in a way that stuck to me. You deserve way more subscribers!!
@@DeeKumarOnline you helped a lot and I also shared your site to friends that are studying for the MA Board. I passed on my first run. I thank you again
Yes! And here is a video with some California-specific content: Vocabulary for the California Real Estate Exam (Words You MUST Know) ua-cam.com/video/AhJnrwzHCY4/v-deo.html
Question 112... wait a minute, wait a minute..isn't a mortgage NOT what a person uses for payment. What I mean by that is, we don't take out a mortgage from a bank. The mortgage is given to the bank for the loan.
Your overall understanding of the concept is correct (the borrower grants the mortgage to the lender as collateral and in turn, the borrower makes payments to the lender to repay the loan over time) but I’m not fully understanding your question. Question 112 is discussing the structure of the monthly payment. Let me know if I’m misunderstanding your question though 🙂
@@DeeKumarOnline ... I just thought you were using the term "amount of the mortgage will decrease each month", you were using it just in case you thought people didn't know what a mortgage was. A mortgage can't really be paid down, right?
The question is discussing the structure of the payment, not the amount of the mortgage. It’s a small detail but very important to the question being asked. And yes, it can. The principal balance of a fully amortized mortgage loan is paid off over time, usually a period of 15 or 30 years. For example, if your monthly mortgage payment (PITI, principal, interest, taxes and insurance) is $4,000, and $1,000 of that is taxes and insurance, the other $3,000 goes towards the mortgage loan. At the beginning of the term, the majority of that $3,000 is interest and only a small portion is going towards paying off the mortgage loan balance (principal). But in time, the interest portion goes down and the principal portion goes up. At the end of the term (15 or 30 years), the full balance is paid off and the mortgage is discharged (ends). I think you’ll find this video helpful, and my Real Estate Exam Study Guide on Amazon goes into even more detail about how mortgages work. Hope these help! ua-cam.com/video/YlDrwVGcNaw/v-deo.htmlsi=n1UZctovcbOa2PRm
I just thought it wasn't c because it says paying down a mortgage when we're not getting a mortgage from the bank, we're getting a loan to repay the bank for the mortgage. Thank you for the links!
The balance of the mortgage loan is decreasing each month that you make a payment (for an amortized loan). Definitely check out those additional resources for some more clarification 🙂
The principle goes up only when negetive amortization happens In the beginning of a loan you’re typically paying all interest If for whatever reason you pay less than what is owed whatever you didn’t pay gets tacked onto your principle Question number 112 I don’t think can possibly be correct ! Other than you being late or getting interest tacked on your principle shouldn’t go up on a fixed rate I’m thinking that could happen more with arms Hmm can you explain this one to me brother !
Hey there! The question is asking the structure of the PAYMENT, not the principle balance. So each month, the amount you are paying towards interest goes down and the amount you are paying towards the principle goes up. Hope this helps 👍
Grab 400 real estate practice questions + over 300 vocabulary words in our NEW Real Estate Practice Exams & Vocabulary Review on Amazon: www.amazon.com/dp/B0CYTL79JB
Edited to add: remember that on exam day, you are looking for the BEST ANSWER to the question and challenging a question with your proctor is more than likely not an option as they only administer the exam, they don’t write the questions. lol I also challenged this one, I didn’t write it. I would have stated that the “offer of 425k” was accepted. I believe the writer wanted us to assume it. The issue is that the real exam will mess with you on things like this. So my approach is to never assume things, but when presented with these options I made the assumption the offer price was accepted and based the solution accordingly. I can see how one could argue otherwise. Thanks for tuning in bud, good luck with your studies :)
I have a question. If a seller asks for all cash offers on purchase of their home, would you still provide all offers to sellers (even ones non cash) or would you just provide highest cash offer?
See I was told by another firm to forward all offers, even non cash because financing could end up being needed, so forward all of the offers and not just cash ones. Now I'm confused!!!! 😢
It is in their best interest to at least review all offers so part of your fiduciary responsibility would be to encourage that. They may only want to CONSIDER the cash offers, but it’s in their best interest to see ALL offers. If they insist that they don’t even want to be presented with non cash offers, it’s okay to accommodate that request.
This video is national, there are also MA specific videos here on the channel though including this one: ua-cam.com/video/plcTKgWp0BQ/v-deo.htmlsi=vEefD2L4pKSYU1hh
I wish you cover all chapter from the book out of the videos this of yours is the best very clear and to the point thanks I'll keep watching since Im taking the exam soon ...
My study guide on Amazon does exactly that, it goes chapter by chapter and has explainer videos embedded via QR code: Real Estate Exam Study Guide: National Edition a.co/d/7w7wXqE
See once again your style of presentation is outstanding. The fact that you read the question, you read the answers, you read the question one more time and Poz to give time for the person taking the exam with you is exemplary. you allow the person taking the exam ample time to critically think and pick an answer before you reveal the correct answer. Your method of teaching, your tone of voice, your are demeanor that reflects so much confidence and knowledge helps me concentrate and focus on the question and the choices. Thank you
If you got value from this video, be sure to grab your FREE real estate practice exam here: go.agentbuilder360.com/free-exam-optin
Do you have a crash course? Trying to book my exam for early July
I just wanted to thank you. I took my real estate agent test today and passed it on the first try. I didn't go to your school because I didn't know about you. I was getting frustrated studying . I went to youtube and I came up on your videos. I watched day and night. I started to fully understand what I was studying and connect the dots. If it wasn't for your videos I don't think I would had passed. Thank you so much. To everyone out there he is good Thank you
That’s such great news, and thank you for taking the time to leave this comment! You’re the one who put in the hard work but I’m so happy I could be a part of the process! Congratulations and best of luck- hope to see you out in the field one of these days!!
did you attend any school or did you just study based on his YT material? (also studying for Mass currently)
GREAT QUESTIONS!
Glad you’re enjoying them @kimberly- thanks for the feedback!!
You do a very nice job of explaining and simplifying in a way that can be understood and most importantly....remembered! Thanks for your videos.
Glad it was helpful! If you have a chance, check out the practice questions on the Community tab- they have answers + explanations 👍
This was the best practice exam I have ever found. The instructor was supperb.
Thanks so much, glad you enjoyed it! I have several more on the channel that I think you’ll find helpful too 🙂
Literally my very first comment on UA-cam. I’ve been watching PrepAgent and a bunch of other guys for over a month and failed my real estate exam 4 times. I watched your videos for 2 days and passed both my state and national exams yesterday. Thank you so much for helping me understand the vocab and definitions in a way that stuck to me. You deserve way more subscribers!!
That’s awesome, congratulations!! Glad I could help!
Thanks Dee Kumar for the breakdown 😊
You’re welcome!
Passed both first try...tx. Great content and delivery
Amazing!! Congratulations 🥳
Thank you for your videos, i just passed my Massachusetts Board
That’s amazing, congratulations!! Glad the videos helped 🥳
@@DeeKumarOnline you helped a lot and I also shared your site to friends that are studying for the MA Board. I passed on my first run. I thank you again
Thank you so much for sharing- I love being able to teach more people on here to help them pass!
Are your questions good for CA ?
Yes! And here is a video with some California-specific content: Vocabulary for the California Real Estate Exam (Words You MUST Know)
ua-cam.com/video/AhJnrwzHCY4/v-deo.html
Question 112... wait a minute, wait a minute..isn't a mortgage NOT what a person uses for payment. What I mean by that is, we don't take out a mortgage from a bank. The mortgage is given to the bank for the loan.
Your overall understanding of the concept is correct (the borrower grants the mortgage to the lender as collateral and in turn, the borrower makes payments to the lender to repay the loan over time) but I’m not fully understanding your question. Question 112 is discussing the structure of the monthly payment. Let me know if I’m misunderstanding your question though 🙂
@@DeeKumarOnline ... I just thought you were using the term "amount of the mortgage will decrease each month", you were using it just in case you thought people didn't know what a mortgage was. A mortgage can't really be paid down, right?
The question is discussing the structure of the payment, not the amount of the mortgage. It’s a small detail but very important to the question being asked.
And yes, it can. The principal balance of a fully amortized mortgage loan is paid off over time, usually a period of 15 or 30 years.
For example, if your monthly mortgage payment (PITI, principal, interest, taxes and insurance) is $4,000, and $1,000 of that is taxes and insurance, the other $3,000 goes towards the mortgage loan. At the beginning of the term, the majority of that $3,000 is interest and only a small portion is going towards paying off the mortgage loan balance (principal). But in time, the interest portion goes down and the principal portion goes up. At the end of the term (15 or 30 years), the full balance is paid off and the mortgage is discharged (ends).
I think you’ll find this video helpful, and my Real Estate Exam Study Guide on Amazon goes into even more detail about how mortgages work. Hope these help! ua-cam.com/video/YlDrwVGcNaw/v-deo.htmlsi=n1UZctovcbOa2PRm
I just thought it wasn't c because it says paying down a mortgage when we're not getting a mortgage from the bank, we're getting a loan to repay the bank for the mortgage.
Thank you for the links!
The balance of the mortgage loan is decreasing each month that you make a payment (for an amortized loan). Definitely check out those additional resources for some more clarification 🙂
The principle goes up only when negetive amortization happens
In the beginning of a loan you’re typically paying all interest
If for whatever reason you pay less than what is owed whatever you didn’t pay gets tacked onto your principle
Question number 112 I don’t think can possibly be correct !
Other than you being late or getting interest tacked on your principle shouldn’t go up on a fixed rate
I’m thinking that could happen more with arms
Hmm can you explain this one to me brother !
Hey there! The question is asking the structure of the PAYMENT, not the principle balance. So each month, the amount you are paying towards interest goes down and the amount you are paying towards the principle goes up. Hope this helps 👍
Grab 400 real estate practice questions + over 300 vocabulary words in our NEW Real Estate Practice Exams & Vocabulary Review on Amazon: www.amazon.com/dp/B0CYTL79JB
#106, The question does not show a purchase price, only that an offer was made at 425K. I would challenge that question if it was on the exam.
Edited to add: remember that on exam day, you are looking for the BEST ANSWER to the question and challenging a question with your proctor is more than likely not an option as they only administer the exam, they don’t write the questions.
lol I also challenged this one, I didn’t write it. I would have stated that the “offer of 425k” was accepted. I believe the writer wanted us to assume it. The issue is that the real exam will mess with you on things like this. So my approach is to never assume things, but when presented with these options I made the assumption the offer price was accepted and based the solution accordingly. I can see how one could argue otherwise.
Thanks for tuning in bud, good luck with your studies :)
I have a question. If a seller asks for all cash offers on purchase of their home, would you still provide all offers to sellers (even ones non cash) or would you just provide highest cash offer?
Hey @kimberlylewis8897, if the seller asks for all cash offers, you would present all of the cash offers, not just the highest one.
Thank you! so if the seller only wants cash offers you would not present non cash offers?@@DeeKumarOnline
See I was told by another firm to forward all offers, even non cash because financing could end up being needed, so forward all of the offers and not just cash ones. Now I'm confused!!!! 😢
It is in their best interest to at least review all offers so part of your fiduciary responsibility would be to encourage that. They may only want to CONSIDER the cash offers, but it’s in their best interest to see ALL offers. If they insist that they don’t even want to be presented with non cash offers, it’s okay to accommodate that request.
Question, are these practices for the Massachusetts salesman exam?
This video is national, there are also MA specific videos here on the channel though including this one: ua-cam.com/video/plcTKgWp0BQ/v-deo.htmlsi=vEefD2L4pKSYU1hh
Hello, I love your videos! You are a god sent . How do I get the FREE real estate practice exam . The link you provided does not work . Jan
Thanks for watching! go.agentbuilder360.com/free-exam-optin
I wish you cover all chapter from the book out of the videos this of yours is the best very clear and to the point thanks I'll keep watching since Im taking the exam soon ...
My study guide on Amazon does exactly that, it goes chapter by chapter and has explainer videos embedded via QR code: Real Estate Exam Study Guide: National Edition a.co/d/7w7wXqE
I was trying to figure out who you sound like. You kinda sound like DR Mike. lol
I’ll have to look him up!!
See once again your style of presentation is outstanding.
The fact that you read the question, you read the answers, you read the question one more time and Poz to give time for the person taking the exam with you is exemplary. you allow the person taking the exam ample time to critically think and pick an answer before you reveal the correct answer.
Your method of teaching, your tone of voice, your are demeanor that reflects so much confidence and knowledge helps me concentrate and focus on the question and the choices.
Thank you
Thanks Mike, glad you’re enjoying the format! You’ve got this 💪