All Forum Posts by: Patricia Joseph

Hey BPers!

I'm a fairly new RE agent (almost 1 year) and also new to REI. I hope you can help me in my understanding. I've read other BP posts on the advantages of having a RE license in buying investment properties. But, I don't understand how the license is an advantage if you're buying properties outside of your licensed state. Or, is it? Can anyone explain further? Thanks

@Dan MacDonald - my brokerage team lead told me he got good results from using . I haven't used them, but have checked out their website and like their product offerings.

@Jordan Decuir - being a part-time agent, while working full-time is definitely doable. I have a full-time federal government job and work as a part-time agent. In fact, one of my co-workers is closing on a sale at the end of June. Your coworkers are a great source for getting business because they already know and trust you; hopefully! LOL

Time management is key, though. I use my lunch hours, evening and weekend hours to complete my RE tasks. It can seem overwhelming at times, but if you have systems in place, you can do it. I use Wunderlist to create all of my to-do lists. I like that it sends me email reminders and I can access on the web and mobile.

@Jeff Copeland - great information for a new agent! What's the best way to find buy and hold investors? Initially, I didn't think I would be able to work with investors since I have a full-time job and knowing that some investors like to submit a whole lot of offers. But, I definitely would have time to send hotsheets from the MLS to investors, who are interested.

@Daniel Ortiz having a W2 definitely helped with the startup costs. To get started, I probably spent about $1,000, which covered initial desk fees, MLS fees, board of realtor fees, course & exam. KW offers agents a pretty robust website & CRM (enough to get started). However, you find yourself spending most of your money on marketing to get leads (Facebook ads, open house flyers, landing page tools). It seems that every company wants to offer you a better tool, but essentially they're just trying to get your money. I had to learn to keep my costs as low as possible by choosing services that gave me the best bang for my buck. One tool that is a real asset to my marketing is listingstoleads.com. It offers a whole range of tools to market listings (landing pages, flyers, single property websites, videos). I was using a service to manage my social media but I cut back on that. Now, I'm probably spending about $260 a month for desk fees, listingstoleads, and coaching fees.

@Daniel Ortiz I have no regrets about joining KW; their training program is awesome. I do think that it would be beneficial to provide alternative strategies for agents, who have dual-careers. Yes, most of the training is done during the day, which I'm not able to attend. However, KW offers an extensive video library, where I can still get training. My Market Center recently offered the IGNITE program during the evening, which I was able to attend. However, this is a course that I should've taken at the beginning, so I feel a little behind. But, I just have to do the best with what I have now, and make it work.

@Steve Bracero yes, my initial plan for getting my license was for the purpose of getting access to the MLS and earning extra money to buy my own investment properties.

It's very encouraging to hear others give their advice on being a part-time agent. I chose to get my RE license because I wanted to have access to the MLS and earn extra money to buy investment properties. I will say that being at KW, I don't feel that being a part-time agent is well supported. Most of the advice is geared towards being a full-time agent, like lead generating and cold calling for 3 hours each day. I'm not sure if I want to go that route just yet. I presently work in the federal government and have a very flexible position, good pay, and benefits. Not willing to give that up just yet to pursue RE full-time. Still trying to find my niche. @Abel Curiel thank you so much for giving a snapshot of what your day looks like. It helps me to see how I can implement strategies to make it work for me.

I'm currently with KW in Snellville, GA. I chose them because of their extensive training opportunities. Training magazine voted KW as the #1 training organization in the world. As a newer agent, getting the best training was most important.

@JR 

@JR Hinds with Chicago not being a landlord-friendly state, how did this factor into your decision to invest there?

Thanks @Alex Franks for sharing your thought process! As a new investor, it helps to read how a more seasoned investor does things. No better education than learning from those who've traveled the road before you -- why reinvent the wheel!