A little different than just looking to find somewhere to hang my RE Lic. I have been working in property management for a while now. And over the last few years I have kept my license active. After completing the test and for the last year I have had my brokers license.
Now that I am looking to start my own real estate investments, what would be the best way to utilize it? Do I need to set up an LLC or Corp in order to run things through my Brokers? I have not been working as a real estate agent and my real estate background is almost all in Commercial so I am probably less familiar than someone who has been doing residential for the last few years.
Anyone know a good place to start, looking to move quickly since I don't want my license with my current company if I start buying and selling properties with it.
FYI this if for Massachusetts.
@Jarrod Kohl It depends on what your goals are. Why is your current brokerage not the right place?
For Goals, Currently I am looking to start flipping properties. I am working with someone who has done them successfully before (but all about 30 years ago). So I would not be working as a full time agent, but since I have my brokers license I am trying to decide on whether I should spend the time and money to open an office.
Or if it makes more sense to find an office that I can just park my license get a generous split (since they would be my own deals) and in that case, maybe help with the back end of listing and selling of the property.
At first it would only be a few deals a year, but as it ramps up it would probably make more sense to eventually have my own office, but this would be for near term.
@Jarrod Kohl Understood. I prefer flipping over rentals, mostly because I don't have the patience for the three "T"s - termites, toilets and tenants.
We're just wrapping up a flip in Rockland that should net us close to $60,000 and we're looking at the next one. I did just see one in Plympton that might have legs.
I did decide to open my own office as part of my longer term strategy, but the administration of it does carry an extra workload - marketing, CRM, E&O, agent training, etc. I worked for Weichert for a while, but just decided that I couldn't tolerate the "big company BS".
If you would like to chat about hanging your license here, call any time.
Try to find a 100% commission brokerage with the lowest monthly and transaction fees. It doesn't sound like you'll be needing any training or resources from the brokerage. We have a few here in New York focused on Agent/investors.
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