All Forum Posts by: Chris Bounds

It sounds like you're off to a good start! 

Building can be a good strategy especially if inventory is low in your area (as it is in most). I'd suggest making sure the numbers work not only for AB, but as a long-term rental, and a sale. Multiple exits help hedge for risks. 

I'm not a stock guy, but I am a buying equity at a discount guy. Being able to use 5% of commission from our flips and retail business to buy stock at a 10% discount is a no-brainer. 

Check this out. Market Cap as of today:

• Realogy: $1.23B 
  Re/Max: $650M 
  eXp Realty: $2.79B 

This is a quote from Inman

virBELA is in a completely different category class that's taken off like a rocket since the pandemic. Thankfully EXPI owns it (for now). eXp is aiming to compete with Zillow and Redfin.

A few suggestions

• A 2-4 unit and live in one of them. I personally like separation from my tenants
• House hacking aka a "live in flip"
• Flip a house and move in afterwards (personal preference). If you buy it right you can have little to no money out of pocket plus a ton of equity.

I second the Koby recommendation. He's on a team of investors that have flipped hundreds of houses and have valuable support and mentorship. 

More states are bringing up the issue of wholesaling and whether it requires a license. My recommendation is if you want to be a real estate professional and see yourself in the industry long-term, get licensed. It can only help your RE career.

I used this online course for the Texas license: 

https://www.realestateexpress.com/

Over time more states will start requiring a license "wholesale". 

When you boil it down, most wholesalers are engaging in brokerage. They operate purely with the intent to assign their interest in the contract to another buyer AND do not disclose that to the seller. 

Many wholesalers do not have the means (or desire) to close on the properties they are contracting. That in itself can be a legal issue in many states. 

Wholesaling is not bad (IMO). It's the shady individuals and operations behind the strategy that causes harm to the public and will prompt regulators to address the issue.

Best depends on what your business is focused on. 

There seems to be a dozen or so top recommended CRMs. I use Zoho CRM for my investing business since it's industry leading, completely customizable, and under constant development to stay ahead of the feature trends.

For my agent business, kvCORE is an all-in-one CRM & Lead Generation platform provided for free by my brokerage. It's available on the open market, but like other things of high quality it comes with a price.

I don't personally, but from Facebook threads on the topic agents fall into two polar categories:

• Zillow is the Devil and should be avoided at all costs
• Yes, test it in your market to see how it preforms

I'd suggest the latter

In Texas, before an agent can represent you a buyers rep agreement needs to be signed.