All Forum Posts by: Matthew Teter

Ronak, great question and Jordan's response is accurate. I would ask what specifically do want the asset to do for you? Austin itself, is a hot market despite some national decline in areas, however there are solid investments here like there are anywhere. It all depends on what you want an asset to do for you, how you are going to finance it, and who is helping you source it. 

Keller Williams...check out the Millionaire Real Estate Agent book to start as well.

Check out the book Guide to Passing the PSI Exam.

Rodric,

There is a great article, I think Brandon Turner wrote it, on here discussing the potential dangers of wholesaling without a real estate license. It is state by state and you will have to research your state laws, however with the potential for legal ramifications and the goal to wholesale, it may be best to get your license to avoid any risk. Also, what everyone above said!

Daniel,

This is a great question, or series of questions, and the answer depends on the individual and how they value their time. If you are simply going to hold and manage the one property and have the time and willingness to do so then it could certainly make sense. However, we find that many investors who are building a portfolio, even slowly, choose to make the investment in an agent to take on their role as you described it so the investor can spend their time researching, previewing, offering, and negotiating on properties as they scale their portfolio. As your portfolio grows, specialists and partners on your team become more and more important. The relationships that you develop now will provide you leverage in the future. As for the question on if marketing the property that way could push tenants away, the answer is likely yes. The call we received from one renter to our team last week started with, "before we start who pays the commission to you as an agent?". This is a conversation and a concern, it does not mean the property will not rent and you cannot do it, it simply means that it could take more time to rent or they may want to negotiate the rent. If they negotiate the rent or you miss a month's rent it costs the same as paying an agent to handle those steps and find the tenant. I hope this helps. 

My suggestion would be to contact a brokerage in Dallas or a licensing school and ask that exact question. It would be the fastest way to get the correct answer! Each state has different laws and requirements for real estate licensing. Also, if its possible, Jay's idea and plan of action is an excellent one. No wonder Jay has had time to comment 20,000 times he started in real estate at 18! I love it and kudos to your son for getting an early start!!!

Karlyn,

The answers below are excellent to consider. I would suggest attaching a ROI to the coaching relationship. What return are you looking for from the investment and in what period of time? Then hold the investment accountable to producing the results. Coaching, when it is most effective, is a relationship of partnership between the coach and the client. What are you expectations from the coach? Are you clearly articulating them? Is the coach providing you with value on each call that is actionable? What level of accountability is the coach holding you to? Coaching can also be looked at from the perspective of taking three steps along with the client.

1. Buy in or commitment from the client to stated goals

2. Education, training, and necessary resources to achieve those goals

3. Accountability to assure that the actions and commitments necessary to achieve the goals are happening consistently 

If you have stated goals, are receiving the education and resources necessary to achieve them, and are held accountable daily to executing on the necessary actions then coaching will work and you will see your desired return on investment. Remember, the top athletes and business people always have a coach if not more than one. Finally, great coaches often do not teach us anything new, they remind us and hold us accountable to doing the things that are required to achieve our goals. 

Steve,

Congratulations on passing your exam! I agree with Kevin's comment below that Keller Williams provides the models, systems, and training necessary for full time or dual career investor/agents to be successful. Most agents choose a brokerage based on the following criteria: culture, economic structure, technology, training, and support. Many brokerages offer a great mix of those concepts, however require agents to be full time. What I like about Keller Williams' model is that they offer all five to both full time and dual career agents like yourself. Additionally, I would suggest reading two books: The Millionaire Real Estate Agent and the Millionaire Real Estate Investor. 

Christopher,

Kevin Lara, on our team, responded to this post and would be an excellent resource for you. 

Marta,

I would suggest Jason Trembicki with Keller Williams in Hoboken.