All Forum Posts by: Eric H.

@Gwen Garcia Welcome to BP! Another REIA to consider is the BWI meetup held 2nd wed of the month. Set up some keyword alerts for topics and keywords that interest you. Continue to engage in the forums, check out the podcasts, and check out the blogs. Here is a blog post that I read this morning that was encouraging to me.

https://www.biggerpockets.com/renewsblog/2015/11/0...

I wish you the best!

See ya round!

Sincerely,

E. Harris

@Mario T. I'm not sure if 4 deals meets your 'ton' qualification. I have the end buyer sign the assignment contract immediately upon his/her acceptance of terms of contract and give the end buyer a copy of the original purchase and sales contract. Assignment contract will reference my fee.

@Bill Gulley This would have been enough to help the OP.

People, your financing agreement is a unilateral contract, you can NOT assign a financing obligation without the lender/seller's specific consent.

The OP mentioned he was a wholesaler and unfortunately that turns a lot of you seasoned investors into attack mode. I normally don't reply when I see you guys bashing wholesalers but I spoke with the OP over the phone and he is just trying to learn as most of us here on BP are trying to do. WE DO NOT NEED YOUR CONDESCENDING REMARKS! The only dumb question is the one that is not asked. I viewed your website and I think it's great what you are trying to do. Just go about it a little different. You were once a newbie too. Geesh!!!

@Eduardo J. Rodriguez Yes it is hard competing with the larger firms for listings. But you are going to start with your sphere of influence - everyone you know and everyone they know. The folks that already have some level of trust with you. As an agent you are essentially a small business owner. Thus most of the work is going to fall upon you and your success will be determined by YOU. I would recommend keeping your full time job until you are making enough money as an agent to live in your comfort zone. Yes six figure incomes are obtainable but it takes years to get to that level.

Hope this helps!

Sincerely,

E. Harris

@Charlie Jarmon

Whether you think you can or you think you can't - you're right. - Henry Ford

You have to first change your mindset to make anything work for you. Secondly, wholesale deals are indeed hard to come by but it can be done. What lead development strategies are you using right now? It could take 6 months to one year to get that first deal done. But with persistence and a good plan you position yourself in a better place to be successful.

See ya round!

E. Harris

@Eduardo J. Rodriguez You have to figure out what your goals as an agent are. Are you looking to use your license to invest, work the retail side of the business, or both? Commission splits are not the only measuring stick. Keller Williams is great for agents that have no prior experience in real estate. They offer great training courses for new agents. The benefits of working with the new broker is that you can learn directly from him. He could essentially mentor you. Of course you need to outline what that mentoring will entail before signing on with him. Other things to look for with any brokerage is E&O insurance, involvement in real estate community/legislation, promotion scale, mentoring opportunities, mandatory meetings/floor time, 'hidden fees' (desk fees, copier fees, transaction fees, franchise fees) and marketing/lead generation tactics. Interview with a few more and remember it's not like a traditional interview. Although they want you on their team, I think you are the one that really has the ball in your court.

I wish you the best!

Sincerely,

E. Harris

@Aroldo Villarreal I only stop following up with those people that say "Take me off of your mailing list" After a person has sold their house I will still send that individual a tear off calendar every year with a personal note. To that person that told you to get out of their house, you may not want to call them again but keep them on your 'regular' mailing list and your first follow up after that awkward encounter should be something personal. A handwritten note or short letter highlighting something you guys did connect on. Follow up, follow up, follow up is the name of the game. Keep it to monthly at the most to prevent becoming a pest but persistence makes you stand out against the competition.

Hope this helps!

Sincerely,

E. Harris

Thanks @Jason Woodford! Sounds like a winner!

@Nojan Radfar That's an excellent start! Keep implementing all of those methods! I am not sure how long you have been doing it but it does take time. What is your exit strategy? Figuring that out will help you determine if your desired ROI is realistic. Understanding your market will help with that too. 15-20% profit margins may not work in your market. I would hate for you to get discouraged and miss out on the 5-10% profit margin deals because you were too busy looking for the homerun. 5% of one deal is always better than 100% of no deal ;-)

Hope this helps!

Sincerely,

E. Harris

@Roman Shaposhnik Yes. As a real estate salesperson you have to be affiliated with a broker.