All Forum Posts by: John Warren

Thanks for the great ideas everyone! I saw the building yesterday, and will be making a second visit. It sounds like we will just employ a good real estate attorney to handle things as my office does not work in Indiana. 

best of luck with the interview process! I went the opposite route and went with a 100 percent commission brokerage. If you are looking for mentoring you definitely will not want one of those 

At the same time, most of what you do as a broker is not rocket science. Just make sure you are getting excellent value of you are giving up a significant portion of you commission.

welcome to BP!

welcome and congrats! Have you hung your license anywhere yet? What suburbs are you looking to work in?

Hello everyone,

I will be traveling to Indiana tomorrow to see an off market apartment complex there. I am a licensed realtor in Illinois, so I have access to tons of contracts here. The problem is, I am not sure how to make an offer in Indiana. Do any of you have access to a contract that would be valid in Indiana? I have googled this question, but mostly I just get sent to sites that try to get me to sign up for membership. Should I just have an attorney draft a contract? Are there resources I am missing?

A lot of the South suburbs have those types of numbers. Hope you have a tank to go collect rents though... I have seen buildings listed in those neighborhoods listed really cheap but with no plumbing left since it was all cut out. 

Thanks @Yoochul C. and @Jay Orlauski

I do enjoy my current job, but I guess I am entrepreneur at heart! I am certainly not quitting, but I should have the flexibility to do both for a while anyway. I guess I am curious what some of the agents on here think about the sustainability of real estate when we go through our next down cycle in the next few years. It is fun being an agent when everyone is buying, but I am curious how the top performers faired in the lean years!

Hi BP Agents!

I have held my license for a little over one year now. It has been going very, very well, and it looks like I may make almost as much as an agent this year as I will from my base salary as a music instructor. My question is, should I look to go full time as an agent, or should I keep it as a side business.

Pros: I have done almost no marketing, and my business has been all relationship driven. I have even started working with people that are not in my direct circle of influence, but who are one step removed.

I also have low expenses and keep 100% of my commission minus a small fee. This has allowed me to spend very little to hold my license, and has made this year very profitable indeed for my first year!

Cons: My sphere of influence is strongest about 50 miles away where I grew up. I could get a lot of business going there, but then I have a long commute to do any work!

I have had very little business where I currently live, mostly because I have been here for only four years. However, I am settled here and will not be moving close to where I grew up.

So what would you all do? Keep the license on the side for another few years? I have a stable day job now, but I like the idea of being my own boss and potentially making much, much more income.

What rental price point are you in? Our four unit has washer and dryer in unit. We were hesitant to leave them at first, but honestly they really improve retention. This can end up saving you big money in the long run! They also have not cost that much extra water  either.

sounds good! I will see you there!