Investor/Realtor Update-1.5 yrs later and My Dilemma
Hi BP
I have been meaning to come back to update you on my journey as investor/Realtor.
First off, thank you being the catalyst and helping me through this process. It was the best decision ever.
I grew up with RE investors, have a finance major, and have entrepreneurs for parents. I spend my weekend managing properties and listening to strategies growing up.
I started in 2001 and did my first MADE-ALL-MY MISTAKE FLIP in 2003. Went on to buy/sell 3 commercial buildings, and flip 2+ Residential and managing buy/hold properties.
As an INVESTOR, I do my own extensive due diligence, and once I find a deal, I call a Realtor to "get" it, and we basically just CLOSE.
As an INVESTOR, when I sell a property, it's in it's highest and best use and I have exit plans lined up. So my property sells pretty fast.
So when I found myself in the position to be able to buy 1 property a year or more. I decided that I needed to get my license! And the fact that my REALTOR doesn't know how to deal with me... she can't find me stuff! It was super frustrating.
So I got my LICENSE! Sign up for course, took test.
I called all the brokerages and picked my firm. I came into this WITH A FLIP TO SELL. So I went with the firm with the most MARKET PRESENCE and when I realized I have been using their site since 2001 in 3 different states..... no brainer right.
I sold my listing in 1 day!
MY MAIN GOAL AS REALTOR: Find my own stuff, meanwhile, help other ppl find home.
In my 1.5 yrs, I am now certified SFR (foreclosure) agent, and Commercial Agent.
My deal exposure has shot up exponentially.
PRO:
*As an investor, it wasn't difficult to meet other investors for client
*I am a good investor friendly realtor because like minds, you don't need to teach me
*Investor client buys multiple times.
*I get to see how other investor thinks and analysis without taking my own risks.
*I got FREE education on how to inspect a home, what to look for.
*I LOVE WHAT I DO...
CON:
*my commission SUX. I work with investor and here it means under 100K homes.
*60% of my deal fall through, and my SFR require a lot of attention and time.
*investor for clients, I have narrowed my clients to like minds. There are low ballers just offering to get a hit.. and there are investors like me that did research not shoot in the dark.
DILEMMA: Why I write this blog..
I am have just opened yet another LLC for myself to do REI. And finding myself wanting to FSBO everything...
PLEASE ADVISE: Other investor/realtor in my shoe, who has license and buy own stuff... when do you use your brokerage and when do you fsbo? My firm is not 100% commission on "my own deals"
It is 100% only if I buy in my name and only 2x a year. I buy via LLC.
I have not issues with disclosure, surprisingly well received as investor/realtor or landlord/agent.
My issue is like all investor, I want to cut out the middle man, but in this case...me!
Thanks