Let's get started

I have been a Realtor in Phoenix area for six years. I got my license to prepare myself for semi-retirement income, to help friends and family with real estate transactions, and to do some investing. Because of the cost of maintaining my license, I have done a number of transactions. I find that my license is very usefull in my investing business. I can search MLS listings, I can comp from MLS records, I do not need to use another agent to visit properties, and I get the commission on purchases and sales. In Arizona, as long as I identify myself as a licensed agent, there is no conflict.

Al

Al,

I believe it works the same in MI. I haven't checked into it yet, but I see a lot of listings that say "property owned by/being sold by licensed agent" or something to that effect.

A couple of questions for you...
How many investment properties have you bought?

How much time and money do you think having a license has saved and/or made you in that process?

I have my Georgia RE lic. in an inactive state. I am thinking to put it active for the same benefits mentioned above however, I have some concerns about if my personal investments will have to be passed through to the office or not and if the Broker will have an issue with that. I am trying to weigh the cost vs working with a realtor at their leisure.
Was this ever an issue for any of you???

I would think that any transactions dealing with another RE Agent would need to go through your Broker. My broker does not have a problem with me being an investor. Giving up a portion of my commission to the broker is not a problem for me. If I was not handeling the transaction, and another agent was, he would be getting the commission, not me. The profit on any deal is increased by the amount of your commission. You can interview brokers until you find one that will work with you, and will benifit your needs. If you can not find the terms that you like, you do not need to make your license active. You would still need to notify all parties,in any transactions, that you are a licensed agent, even if you are not active. If you don't, you might have your license revoked. Let me know what you decide.

Al

I would like to have each member,of this group, give some background of their situation. If we each knew what the others background and planned direction was, it would promote discussion and exchange of ideas. Even if you are just thinking of getting your license, let us know your story.

Thanks, Al

Al,

I started looking at real estate investing about 9 years ago. I purchased a "guru" course and at the time didn't do anything with it due to getting engaged and running into another biz opp. Over the last year and a half I had my interest re-piqued in REI, specifically in short sales and lease options to start.

I had a friend suggest looking into becoming a realtor to supplement the process as you have done. So far I have talked to two brokers (5 interviews w/ one) and have not made any progress. The one that I dealt with the most has a financial assistance program (essentially an "off the books", no interest, personal loan) to help new realtors get started and no desk fees. That was attractive to me as a potential no-risk way out of the factory (2nd shift) and on the road to getting the investing business going. The two problems I think he saw with my proposal are:
1)I don't have capital to help myself get started so all the risk is on him
2)Because he's putting up the money he wants me to follow his system of doing things, which for the most part I was willing to do, but not completely because it wouldn't have left any time to put towards my investing business (not much different than now).

I did lay out for him how he could financially benefit from my working with him and also how I planned to have money start coming in from the investing business so I could pay him back and stand on my own two feet in a short time period (3-4 months). Any thoughts on what might incent a broker to accomodate my situation other than what I've tried, or should I just keep talking to more and see what surfaces?

On a personal note, I have two young boys that I watch while my wife's at work and vice versa. We are going to celebrate our 8th anniversary next Tuesday. One of my "why's" is to be able to spend much more time with my wife and boys than I'm able to do now.

When I was helping my daughter purchase her first home, I was approached by the broker who was impressed by my knowlege of real estate (or so he said). He offered to pay for my education, and I would sign a contract to work under him for two years. I did this, and started out as a real estate agent. I should have spent more time researching my options. The company offered training for new agents, but it was given on Monday mornings while I was at work. I struggled trying to learn the ropes, and partnered with another agent who was able to take the training. I was on a 50/50 plan with the broker. They offered office time, which gives you the walk-in clients that come to the office. Only experienced agents could get the weekend time, so I was unable to take advantage of this. I did manage to make $6000 in commissions my first year, and $13000 my second year. After my contracted time was up, I went searching for another agency. I found a small company that would train me on weekends and evenings. They gave me an 85/15 agreement, and each agent worked from his home office. This was a perfect fit for me, as the broker also covered for me while I was ar work. Any appointments or meetings that I was not able to make, due to my job, were covered by the broker. My son is now getting his license, so I will have a partner to work with. I think we will approach investors (through REI Clubs) that are working in other areas of the valley to work as their agent. Our investing experience should benifit other investors, and we can learn from their experiences.

Looks like it has been a while since this group has seen a posting.

I'm a Califoria Licensee (in training, will get test date within 30 days) and would like to network with other licensees.

There is strength and security in numbers.

I am currently reading one of Dean's books and got stumped on a topi. Does anyone have a website to view reports that relates to where investment funds are flowing, currently?

Thanks!
Lynn Brady
REALTOR

I am just finishing college and have always been interested in RE investment. I got Deans TALD a few years ago which really cemented my interest. Recently I thought what better way to realy learn than to get licensed. So ive done that and just bought my first investment property...my own home. Gotta love that stimulus money. I'm going to live with a few friends and so that all my comissions can get reinvested. Ive got some great deals in mind, now I just need to sell a few houses to make them a reality.

Im new to site. im 28 years old, single with very low monthly expenses. im in the middle of deans book. im currently studying to get my real estate license. ive applied for a loan and was approved for 125000 so im having my agent looking for homes. ive always been interested in real estate investing and now im starting to get into it. im just trying to get as much information on real estate investing as possible.

APRIL AUCTIONS (1) HOME IN 32311 (TALLAHASSEE, FL)
APRIL AUCTIONS (2) HOMES IN 32303 (TALLAHASSEE, FL)

PLEASE CONTACT ME IF YOU HAVE AN INTEREST IN A PARTNERSHIP WITH (3) AUCTIONS IN APRIL

Lynn Brady
REALTOR®
Keller Williams Realty
Cell: 850.320.1036
Fax: 850.668.3442
Email: lynnbrady@kw.com

I WILL FAX/EMAIL A DETAILED AGREEMENT AND NEIGHBORHOOD CENSUS REPORT

I am currently a Realtor in Houston, Tx and i am looking to make my own investments....one day i thought to myself i am always finding others good deals which i dont mind and have always liked helping others. So i said, self? why dont you purchase some rental properties for passive income? you know what self.....your right!!! =)

i have no problem making low offers so i am going to be my own best realtor lol =)

i have read "think a little different" and just finished reading "profit from real estate now"

in the last week i have found 3 cash buyers/investors with lots of purchasing power, and a few buyers i have gotten approved thru my mortgage broker that happens to be a family member i trust. My brother has his own sign shop which he will make signs/flyers/business cards at cost for me for obvious reasons ( im his big brother) so its very little out of pocket for me

so i am ready and willing to be taught and teach while enjoying and loving what i do

special thanx to Dean and all the participants on this sight with all the useful knowledge anybody can use in todays market

God bless everyone and your fams with health, knowledge, and the will power to take the first step on the journey to financial freedom

p.s. i just found a cash buyer at the gym today that is interested in investing but doesnt have the time. But wants to sit down with me sometime next week and talk some more about investing and how we can work around his busy schedule.....wish me luck

I received my license this January and look forward to using Dean's strategies to help my income as a new realtor.

I devoured Dean's Profit Right Now book this week and will start rereading next week. I look forward to learning from others on this Forum.

If any veterans out there would be willing to help a newbie get going, I would be more than willing to listen-up.

Rick

Hi from Al.,I found this site on "Deans classifieds" check this out:
www.****.com/?id=tedeliz
hope it helps and good luck!

I am a licensed realator in MI and just getting started in RE Investing. I have not really been practicing as an Agent, but I do have my license active. So I am anxious to start investing and making some money. The world is our playground!

Welcome to the site. I am originally from Michigan myself. I am from Western Michigan around the Ludington area. Where are you located?

Al

Welcome aboard. This is an opportunity like no other. Look forward to hearing your success stories........Much success.
Lubertha

I have been hired by a great RE Broker in Grass Valley. Grass Valley is in Nevada County in Northern California. I am still waiting for my application to be processed but have been hired as a RE sales person. My resources have been expanded greatly and again I want to offer my help to the DG family. No matter what level of success you are looking for your net work is a key component in your REI tool box. I will have feet on the ground in Nevada County as well as Placer County.

I am going for my RE license in September and I too was curious as to the (not so obvious) advantages of being an agent.

Let's keep sharing.

Greg - www.porchlightpropertygroup.com

Hello everyone,

My name is Gerard and I am a real estate investor. Currently, I am building a database of investors and Realtors in New York State to work with.

If you are interested at all, could you please Email me at: GerardFutureRealtor@****

I hope to hear from you soon...

Thank you for your time and Happy Hunting!

God Bless,

Gerard Doret, Jr

The 1% commission is that what everyone
starts their agent off with? This is in the book.

I am licensed in the State of Arkansas. My broker said I just have to keep her informed on any deals I do personally. Of couse if I list through my broker they will of course receive their franchise fee.I like not having to depend on a realtor to find deals for me as an investor. Most realtors don't like to work with us because we look at so many just to buy one. I am wondering if anyone out there has used hardmoney lenders for any of your short term deals?

Just wanted to introduce myself to the group. I have been licensed since Nov 2007. I am in the process of reading Dean's book Profit from RealEstate right now. I have pretty much parked my license at my brokerage at the moment. I am very excited about getting into investing though. I would appreciate any tips my fellow Realtors can give on starting out in this new venture.

Hello All:

I am a new DG Academy student and brand new to RE Investing. I just joined the Capitol Area REIA (DC, Virginia, Maryland area). I live in Leesburg, VA (Northern Virginia) and hope to succeed in RE investments in the N. Virginia area. Any mentoring, assistance, advice (especially from anyone in this geographical area) would be most appreciated. I look forward to getting more involved with this group.

Thank you-Bob