I intend to become a real estate investor, but to learn my local market I first plan to become an agent/broker. I've noticed different types of brokerages and am not sure which would best suit my end goals.
They are: REO dealers, Residential brokerage, and brokerages that have residential and commercial services. Later I'd like to own apartment complexes so right now I'm leaning towards a locally well known residential/commercial brokerage. But investing is my goal so maybe an REO is the obvious choice. ????
Also, I have a nice size client list from my tile contracting business that I intend to advertise too once I'm at a brokerage, which I think may help me start out. ????
Also, are brokers going to be offended that my end goal is to be a real estate investor and not an agent? Should I not mention my investing goals? Since my real intention is to make contacts and learn about my local market.
Thanks to anyone who takes the time to respond. And please, tell me what you think I may not know but should.
There should be larger firms that do the multifamily 5+ units. Commercial the commission checks are larger and the investment deals are bigger.
Might want to skip all of that other small stuff.
If you are contemplating buying ANY GOVT foreclosures, skip the brokerages that have listing contracts with HUD, VA, Fannie, Freddie. You will not be able to buy the properties, nor will anyone in your family. However if your brokerage has a NAID # but is not a listing broker for the aforementioned you may buy them at your leisure. Just wanted to throw that out there.
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