Hey Community! I am about to begin interviewing a sponsoring brokerage in Houston for my real estate license and I have also started my wholesaling career as well. Is there a brokerage you'd recommend that will provide adequate training (hands-on/ maybe let me shadow etc) as a license holder AND deal pretty frequently with investors (as I wholesale)? Specific branches if necessary. Thank you!
I have a team member opening a branch of our team in Houston in the next month. DM me if interested in connecting with him. You do have to be careful with wholesaling with a license. We use Deal Machine and six-prong approach to sellers that maximizes the use of your license and provides investor opportunities off-market as well.
I went through a similar experience last year. I'm a former wholesaler and thought it'd be a good idea to do so as an agent. I tried, unsuccessfully, to find brokerages that would play along, but now I'm joining Jonathan's team and helping him open a new branch in Houston. Here's my perspective on the matter.
First, there's are legitimate reasons why brokerages won't entertain wholesaling. The most important reason is that wholesaling presents a wide range of liabilities that E&O insurance won't cover.
Second, I advertised my wholesaling business in Houston for months, but I couldn't find any good deals. Slowly, I realized that, as a licensed agent, I had a lot more tools at my disposal. For example, let's say a homeowner wants to sell their home, but they also want to maximize their profit. As a wholesaler, the conversation is over. As an agent, I can list their home or earn a referral fee for it. Besides, as a wholesaler, I felt like an outlaw trying to avoid breaking real estate advertising laws.
Lastly, most agents and brokerages aren't investor-focused. Traditional real estate is a different ballgame. I found Jonathan on BiggerPockets when I was searching for investor-focused brokerages and joined his weekly webinars. It's an excellent resource for learning the ins and outs of real estate investing as an agent. Sitting in the same Zoom as his team has helped me meet like-minded people with answers to questions I didn't know to ask. I tried finding something similar in Houston, but, frankly, they weren't on the same level as Jonathan. So I'm joining the team and helping him expand the national footprint so we can help other investor-minded agents.
That makes total sense. I sent you a DM