All Forum Posts by: Benjamin Carver

Gain of salt here please, but this market is BOOMING. So much growth and it's not stopping. Look at the masses and companies flooding in. Long-term is the name of the game with real estate and the Triad will almost certainly see growth in that span. Good for you for being wise and trying to not just jump into a bad decision. Just make sure you don't overanalyze yourself out of an opportunity to get started either. I've done that myself in DFW and regretted it. Find an agent you trust in your area and find a solution with them that you're confident will make sense 5-10 years from now. And then if the numbers work, that's all you need to worry about. Best of luck!

Hey all! If you're an agent or considering becoming one, there's a lot to consider. Lots of ways to make money, but many assume that representing buyers and sellers is the only way. I am in college and wanted to get started, but didn't want to start up a whole business when I knew I might be moving after college and couldn't dedicate myself full-time to the business on top of school either. So I got my license and joined Redfin as an associate agent.

My Job: I am an independent contractor. I set my own availability and service regions and then they give me tours or I can pick up loose ones as well. I communicate with the buyer and sometimes the seller, schedule the listing (or a coordinator does usually) and all I have to do is show up. I access the property, keep note of buyer information and feedback, and answer basic questions about the home and the area if I can. Sometimes it's string of homes, like 5 or 6 in a row with the same client. And I can have several tours (or string of tours) in a day. Weekends get especially busy and so do week nights, makes sense.  Honestly I spend half of more of my time just driving to and from homes, so I listen to podcasts, call my network, and do other important stuff.

Expenses: These will eat into your pay. I'm talking gas (the biggest expense by far), I drive up to 6 hours on a Saturday and can track those miles for write-offs. I have MLS fees, REALTOR fees, and SUPRA fees to access homes, on top of taxes.

The Pay: I work 10 hours a week, though it fluctuates between 5-20. If I left it wide open I could probably hit 25 or 30. Although this is a slow market. The pay is structured in a way that I make money for every home (and often a cancellation pay when I get last minute changes). $60 per home during peak hours, and strings of homes give you more. A 6 home tour gives me $120, and the homes are often very close together. I probably average $40 an hour after expenses.

Pros & Cons:

- The biggest issue is that I have to hang my license under Redfin and can't actually represent anyone or do deals. It really limits me, so I wouldn't recommend it unless you need a side hustle.

- It's fantastic money that is guaranteed and works great for college students too

- You get to know your market really fast and make connections with buyers, sellers, and agents all over the place

- You learn how the game works without any consequences

- I spend sometimes hours in between tours where it doesn't make sense to waste gas and time driving to and from my home. I have learned to do school, social media marketing, and other important tasks at local Paneras during the in-between moments to stay productive. Else, this time will destroy profitability and productivity for you.

LongTerm: Long-term this is not a forever move. I could keep it as a side hustle yes, but I want more. And if you're on here, you will too. It's a great way for some to get started, but I plan to use it to propel me into my own RE sales business in the next year. Don't underestimate the freedom to scale, grow, and delegate as an agent. You won't find that here.

If I missed anything, please leave a comment with a question or feedback. Let me know how I can help you get started! Feel free to find me on my socials (YouTube, Instagram, TikTok) where I make real estate content and talk more about this stuff.

This is a fantastic post, Ryan. My personal favorite - is a hybrid. Looking to move to Springs this summer. My wife and I are targeting a 4b3ba split level with one bed and one bath in the basement (walkout for separate entrance). We plan to mid-term rent the bedrooms and then possibly convert the garage or a spare room into a private Airbnb as well. I love how creative you can get as an investor when it comes to house hacks! So many ways to make the numbers work and house hacking is one of the best ways to eliminate a huge proportion of your expenses so you can invest more and get more real estate!

 Danny, thanks for the comment! I'll definitely have to give Burlington a look. I was chatting with Katherine and she mentioned impressive occupancy rates on properties near the universities and hospitals. I think that might be my best play if I make the move.

Hello BP! My wife and I are looking into possibly moving to upper NC next year and are trying to get a sense of what works and what doesn't. Is anyone house-hacking somewhere in the triangle? We've looked at the triad as well, and that might end up being an option too. From what I can see, small multi-family is a long-shot. We are a-okay with house hacking by the room, garage conversions, etc. We understand that getting creative is kind of a must in a lot of markets nowadays. Looking forward to hearing some local insight and connecting, thanks for reading!

Hello BP, my wife and I are planning to move in a year's time. We are researching places we would love to live and both are passionate about NC for its nature, and access to beach and mountain. We felt more at home when driving through the northern part of NC and are currently trying to decipher its market state. 

From what I've read, things don't look good. Lots of cash money flooding in, tight prices, low inventory, that same old story. We know a fair deal about house hacking and that is our strategy of choice. What we need help with is uncovering what works in this area. What does it take to be successful here? Those are the questions we are trying to answer. Welcome to any thoughts or advice you have to give, and thank you for your time!

Hey Scott, what are your thoughts on moving to CO as a young professional? I love CO and want to end up there, but the cost of living is much higher than here in Texas where I currently live. I wouldn't be able to invest in as many deals, at least not locally, because house prices are so much higher. How does one choose between a state with a lower cost of living that would propel their FI journey and a state that they think is awesome?

@Donna Hampton I am mainly looking at Townhomes and SFH. With the condos I know the financing is more complex and you can't do 10% vacation home loans, so I've avoided them.

My Emerald Coast folks... Sites like Realtor.com don't show zoning or say whether STR is cool or not, most of the time. I accessed the GIS for PCB, but there's got to be a better way to search for STR in PBC than manually locating each prospect in GIS to see zoning. Any ideas? Thanks!