update: 2 yrs after I got my license

7 Replies

hi BP

Just wanted to update. 

Overview:

investor since 2001, I did a flip/buy hold, commercial/residential

I'm one to do all my research and only call agent to get me THAT house.

2012, after joining BP, I decided to get my license.

Best move ever (detail in my older posts)

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Against BP advise and other investor advise. I went with big box. My son was young then and this location was convenient.

I had awesome training. I became REO specialist very quickly, made no $$ but made a lot of connections with investor. (My main goal)

My clients liked my service but we both got frustrated by my company. I bought my own stuff too...and am frustrated.

Everyone urges me to move to investor friendlier company.

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I made my move on Monday.. And in last 48 hrs. My business boomed. 

My investors all warmed up to my new company.

Im happier bc new company allows me to progress as my LLC as investor too.

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I don't know if it's my 3rd year, or the move. Or me exposing myself as my LLC and my results.. But I'm so much happier

LESSON: go into the company that fits your need. This was my first choice but I got intimidated bc I heard its for experienced agents.

Great job on taking the plunge!  The fear of the unknown can be crippling sometimes but it sounds like you are already making the right decision.  Thanks for sharing your story of courage.

@Micah Redden  

Thank you, and yes taking the plunge is hard part.

I just also want to add:

Getting license doesn't make u a better investor.

License is just a tool, and like any tool you have to use it the right way to make it work.

However, my real estate license increased my learning curve exponentially. Working with all kinds of investors I get the added benefit of being in projects I don't usually do.  And gain courage to jump into new things.

Working with banks, foreclosure, short sale, new construction and commercial lease, all at once.. Fun stuff ;)

@Jennifer Lee  , Awesome success story! Thanks for sharing.

Great work, Jennifer!

It's all about learning and finding out what works for you.

See, it wasn't a waste that you went with the big company first. You said you had excellent training, became a REO specialist, and made a lot of connections with investors.

You never know... if you started off with your current company first, you may not have the connections and training you received from the first company.

@David Hunter  

So true ;p  I really liked my big box, and they are a great company.

BUT I know in my gut I needed to be at the other company.  But you are 100% Correct!

It's a JOURNEY and we have to go with the FLOW ;p 

i wanted to also address Realtor as investor:

I found most investor in my area has off MLS deals. They do yellow letter and direct marketing. Wholesaler etc. So I do comps and hardly have any business with this group. Instead I gain in networking, collective experience and knowledge;)

Those who buys of me are through foreclosures. Or found a MLS deal that makes sense.

Or I sell their projects.

Meanwhile I help retail folks buy and sell RE.

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Me as an investor:

my license aided me through MLS access. The data available, I can sweep for my target more efficiently.

When selling I have access to MLS. Downside was my big box wasn't investor friendly. So reduced my margin unexpectedly. Bait and switch. I was promised 100% commission 2xs a yr on "my own stuff"... And unfortunately I was buying for my investor/in-law so not "mine". And when I bought under LLC, its not mine.

Now that I'm with investor friendly company with different culture, who actually want me grow my business, It means I can also grow my LLC ;) When I can openly market my LLC I got the credibility I needed to gain confidence from my clients. I got exponentially more leads. In fact I get more leads this week than my 2 yrs with big box.

License also gave me the courage to get into things I would never consider.  Bc of the collective experience. And being involved in other investors project. I'm not as afraid to jump into the unknown. 

Gives me something to do between project. I'm certified as commercial, certified in short sale, foreclosure, REO. Now I'm thinking about my brokerage.

Sorry: I didn't realize I repeated myself, but I'm so excited, I just completed my first week. And I already have a "sale".

Congratulations @Jennifer Lee - thank you for the great information. :)

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