Best business to start that ties directly into investing

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Best business to start that ties directly into investing

Nick W.
Contractor · Boston, MA · Member since 2021 · 11 posts · 3 votes

What do you guys think would be a good business to start in the real estate industry? I am already a realtor and work in Construction Management. I was thinking property management or a flipping/GC company. There is a lot of competition in that around Massachusetts. Anyone have any other businesses that ties into investing but differs from most?

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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
4y
Quote from @Nick W.:

What do you guys think would be a good business to start in the real estate industry? I am already a realtor and work in Construction Management. I was thinking property management or a flipping/GC company. There is a lot of competition in that around Massachusetts. Anyone have any other businesses that ties into investing but differs from most?


 We do note investing. We buy the paper then if it defaults and we get the property back we can flip it, turn it to a rental, seller carryback... Look to be at the top of the food chain not the bottom

7e investments53 Reviews
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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    4y
    Quote from @Nick W.:

    What do you guys think would be a good business to start in the real estate industry? I am already a realtor and work in Construction Management. I was thinking property management or a flipping/GC company. There is a lot of competition in that around Massachusetts. Anyone have any other businesses that ties into investing but differs from most?


     We do note investing. We buy the paper then if it defaults and we get the property back we can flip it, turn it to a rental, seller carryback... Look to be at the top of the food chain not the bottom

    7e investments53 Reviews
    WebsiteView Page
    2Reply
  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    4y

    @Nick W. you are already in one of the best business there is: you broker real estate. Learn how to get good at it and build a team. If you have not read the Millionaire Real Estate Agent by Gary Keller then spend $15 and a few hours. It's a blueprint on how to net a million per year. Take that and invest in buy and hold real estate. Everything else is a distraction.

    0Reply
  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    4y

    @Nick W.
    If you are a realtor that is a full-time business in and of itself unless you have a team of agents working all your listings and buyers. I would highly recommend you not start a property management company. You are trying to do too many things just scale your realtor business and rentals. Starting a PM company would be like taking 50 steps backward having to create lots of procedures and systems to operate the management company. If you do property management at a scale you can't also be a successful agent they both take a ton of time and resources. 

    [email protected]614-412-4565
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  • Nick W.
    OP
    Contractor · Boston, MA · Member since 2021 · 11 posts · 3 votes
    4y

    @Marcus Auerbach

    Thanks. I have read this book and it is good. I am looking for more of a company that is not brokering, something that I could funnel different types of leads I find on the agent side.

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  • Dave Van HornPro Member
    Fund Manager · Wayne, PA · Member since 2009 · 1k+ posts · 1k+ votes
    4y

    @Nick W. Your suggestions could work, but what jumped to mind for me is that there are a lot of organizations that could partner with you for boots on the ground knowledge.

    But the answer really depends on what you feel your unique ability is. Do you feel you're a stronger realtor or does your expertise really lie in construction management? I would focus on what skills you currently are best at (and/or focusing on what you'd like to learn) and then the business you start will likely reveal itself.

    Not to mention, it could be localized to your market you work in and what it really needs....does your area need another property management firm or is it already over-saturated? How good are these current companies? Some businesses like flipping could potentially work anywhere but my point is really is there a void that your company would be filling? Because that could lead you to greater success.

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  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    4y
    Quote from @Nick W.:

    @Marcus Auerbach

    Thanks. I have read this book and it is good. I am looking for more of a company that is not brokering, something that I could funnel different types of leads I find on the agent side.


    The most common opportunity I see is remodeling, but I would not advise that. After I quit my W2 and focus on full time investing I worked as a new home builder, did some whole house remodel projects as a GC, and of course some PM. 

    I have learned 2 things: none of these businesses are as good as brokerage and in each one I am competing against full time competition. It was a way to grow a lot of grey hair really fast!

    So I decided to focus on "only" 2 things and that is buy & hold and KW.  

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  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    4y

    Realtor, lender, property manager, contractor 

    0Reply
  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    4y
    Quote from @Nick W.:

    What do you guys think would be a good business to start in the real estate industry? I am already a realtor and work in Construction Management. I was thinking property management or a flipping/GC company. There is a lot of competition in that around Massachusetts. Anyone have any other businesses that ties into investing but differs from most?


     Why are you wanting to start another business? I think it is always wise to stick with one thing to try to master that. When you get too many skillets going at one time then things start to burn. 

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