All Forum Posts by: Anthony Buccanero

If you are getting the license and weighing pros and cons, it's probably not worth it to be honest. Working as an agent, in any capacity, is much harder than people think and most fail miserably within a year. Why are you getting your license? Do you love real estate? Side hustle? Career? Your mentor, as others have said, is part of most brokerage models, but not a requirement and not something that happens before you pass the test and choose a brokerage.

@Anthony Buccanero getting your license will be active work. There is nothing passive about real estate sales. Using your real estate commissions to buy rental properties and build wealth is a great investing path. Every state is different as for licensing and how you go about it. I would suggest once your start taking your classes, interview with 3 potential brokers. See who will be the best fit for what you are looking to do with you license. The broker you work under is very important to help guide you. Getting clients is your responsibility but once you have them coming in your broker will help you get on your feet with transactions. Hope this helps and feel free to reach out if I can be of more assistance. 

Lots of questions here! Generally your "mentor" will be assigned by your broker (not "employer", since agents are generally 1099 Independent Contractors, with some exceptions) so after you pass your licensing exam you interview brokerages and decide which one to join based in part on the mentorship options they provide.

Good luck!

@Anthony Buccanero LOL. No, I haven't read any of David's books. I've certain read a lot of RE books, but none of his. I suppose I'm honored...? But, really, it's just common sense. Glad it helped.

@Account Closed you're going to get a lot of advice when you start telling people you're a real estate investor - and not all of it good. You can find someone in virtually every single market who will tell you that market is saturated. If that was true in every market, no one would be buying anything. And that's not the case. Are prices rising rapidly? In most places, yes. Is inventory tight? In many places, yes. Are you going to find yourself in a multi-bid situation? It's very likely you will. But there are STILL deals to be had, especially in places like the midwest. Find a competent Realtor who is accustomed to working with investors or, better yet, is an investor themself. Find a wholesaler. Do the math, run the numbers, be very clear on what your goals are, network in the area you're looking at (reach out to others in your markets here on BP, through local REIA groups, etc. and ask for referrals like 'would you happen to recommend a local portfolio lender, or contractor, or property management company', etc...) You can make this work. No doubt in my mind.

Hi Bonnie, 

@Alex Diago if you are looking to get started I can’t say enough how good of a place house hacking is to start. But If you do want to invest out of state especially where o reactors are involved is echo the sentiments on here about getting your treat in place. Maybe wherever you can put the strongest team together is where you should invest.

@Jake Miller

I’ve done mine at 10% down. Traditional financing on a vacation home and fully allowed to rent out on VRBO (or Airbnb). Some stipulations as to personally using it as well.

Already pursuing another under same terms in another state.

Happy to share info and lender referral depending on where you’re investing.