All Forum Posts by: Charlie Cameron

@Kobe Xin - there shouldn't be a rush at all.  After you're done studying is a good time to take a serious look at all the options.  I'm not an expert on Texas, but I very much doubt there would be any issue waiting.  That kind of info was all at the beginning of my course.  You should be able to contact the Real Estate division of the Texas department of business regulation (or whatever they call it there!) by phone and get an immediate answer.  

A few other things you might want to consider: 

• It takes time to build leads
• High season for sales (generally) is late Spring to mid summer.  
• You could join your local MLS sooner than your broker. This will allow you to take local MLS trainings, like CMAs, using their MLS software, NAR code of ethics, etc., all skills you'll need regardless of where you hang your license (many brokers may require you have MLS)
• Some brokers don't have desk or monthly E&O

I hope you find what you're looking for, and best of luck on your exam, friend!

Congrats @Richard Pierre-Victor on passing your exam!!  @Angie Shires's advice is spot on.  Check out multiple brokers and multiple models and see what works for you.  I'd add:

• Do you want to work full or part time?  
  
• How is the training?  Is it flexible?
• What kind of mentorship do you desire?
• Does the broker allow exempt transactions for personal use (like investment properties)?
• What kind of tools and opportunities are provided?

The most important things in my own search were value (low cost, but lots of training, tools, mentorship) and flexibility to work on my own terms and train on my own terms.  Paying desk/royalties didn't make sense to me in today's day and age.  But I still want/need a good support structure.  

Best of luck in your search.  Let me know how I can help!

Welcome @Zachary Hutchinson!  I'm buy value-add multifamilies in the midwest after being stationed there until early this year.  I love the rent to unit price ratio, it's amazing.  Like @Sierra Alderman said, probably the best thing you can do is start going to meetups.  The Dayton meetup allowed me to get my first deal (8 units).  

Best of luck to you!  Let me know how I can help.  

Full commission.  Friends and family are part of your sphere of influence.  They're the most immediately accessible clients you have.  The work doesn't change for you.  What is your time worth?  Show them you are worth the cost, perform like crazy, and you'll get access to their spheres as well.  

(of course, you might need to sell a family home under special circumstances, that isn't what I'm referring to here!)

@Kyle Jones and @John Hovanec - just to throw a differing opinion out there: the only con is if becoming an agent and maintaining that is a major distraction to your actual goals.  Not your "One Thing" that will benefit you the most, if you will.  

Of course, I'm all for tax benefits (which is why I like longer hold multifamily with cost segregation).  

Plus, you can see I'm an agent (investor first).  So you can see how I really feel about being a licensed investor!

Hi @Nelly R.!  Exciting times getting your license!  If property management is a must, then my broker is not the best choice for you at this time.  If getting mentorship, high value, and investor friendliness is a more immediate need, then it's worth a look.  Happy to help however I can.  

@Carl Ohai Honestly, that's way too deep in the weeds for me.  I can just pay for leads at an average of $15/lead and they get plopped in my kvCORE CRM for me to start a followup campaign on.  

Or, like I mentioned in your other post, I can just pull potential client lists and set up campaigns specific to each list.  Cheaper.

Welcome @Micheel Nooras.  I'm not experience enough to answer your questions, but with investors I network with I always start with what is the goal and how do you work backwards to achieve it?  

What is your goal for opening a brokerage?  What will be the brokerage's goals?  Will you specialize in something?  Just some questions to get the dialogue churning.  

@Carl Ohai At an 80/20 commission split those numbers above start to work.  I'm turned off by Zillow, Trulia and Realtor lead generation due to the bombarding of calls that clients can suddenly received if the lead is sent to multiple agents.  

I'm starting up PPC (google) and FB ads that feed right into my CRM.  MakingItRain - which ranks you first on Google - on average costs $15/lead.  That math works better as well.  And those leads are exclusively yours.

You could also target certain client lists (and get those lists for free sometimes) and great long term lead text/email campaigns.  FSBOs, expired/withdrawn listings, folks that are likely to move soon, renters... the list goes on.  And much of this you can do for free or pay pennies per lead to start pinging.  

(I'm a newer agent, for whatever my thoughts are worth!)

@Matt "Roar" Gardner and @Account Closed both own STRs on the Emerald Coast here and are doing well.  Sounds like you aren't that in to condos, you can get 5+ bed houses (to maximize gross rents) from $500-$800K.  Numbers work fine but work better if you can put less money down or get a deal on one that needs updates.  Around here you just need to be walking distance from the beach.