All Forum Posts by: Victor Steffen

@William Patsalis most brokerages do not require their agents to hit a quota or retain a certain number of clients. ALL of them require you to pay a fee either per transaction or monthly in order to keep your license there. So fees are very low ($50 per month or $99 per transaction) and other brokerages charge higher fees. Typically you get what you pay for. Low fees mean you’re pretty much on your own. Higher fees or less favorable splits mean you should expect more broker support and training/ perks from your brokerage.

If you don't plan to sell real estate then it doesn't make sense to get your license. You'll pay a decent amount (probably $2,000 all in) just to complete the licensing courses, exams, onboarding fees and MLS dues.

Of course... sell a house or two and you’ve made a nice return on your investment.

I got my license right after college. Best decision I could have made. Wish I did it earlier.

Getting the license kept me having real estate related conversations every day. I learned a ton from my clients' questions and subsequently researching those answers. Also- the commissions allowed me to start buying real estate while the rest of my friends were still bar hopping. Do you need the license to invest? No. How useful is the license? Invaluable IF you use it to sharpen your skill set and stack cash for future investments. Good luck!

@Andrew Threet congrats on closing the first deal! We’re not offering a virtual option, but shoot me a dm with any questions. Happy to chat.

Looking forward to meeting you @Dakota Mivshek ! I'm seeing lots of investors starting to leverage the RBTR model and struggling to find PMs who will take them on. I think you're providing a needed service.

 A ton of talented RE pros on this site and we've been working with OOS investors at an increasing rate! Will shoot a pm

ROOM FOR RENT: LEASE FOR POSITIVE CASHFLOW

Thursday, January 7, 2021
6:30 PM - 8:30 PM
Towneplace Suites Austin South
901 Little Texas Lane Bldg G, Austin, TX 78745

The Central Austin Real Estate Meetup (CAREM) welcomes everyone to our New Presentation / Networking Monthly Schedule for 2021!
Bi-Weekly Meetings - We'll continue to meet at 6:30 PM the 1st & 3rd Thursday of the month.

DATE / TIME - Bi-Weekly Meeting Times 6:30 - 8:30 PM
Presentation Thursday will meet the 1st Thursday of each month.
Networking Thursday will meet the 3rd Thursday.

LOCATIONS -
Presentation Thursday will meet in the first floor Conference Room at the Towneplace Suites Austin South Hotel

How to find us: Conference Room, Lobby Floor, Main entrance to the left just past the dining area.

Networking Thursday will continue to meet at The Brewtorium Brewery & Kitchen the 3rd Thursday.

*RSVP Necessary for Presentation Thursday Meetings - The Conference Room Occupancy Limit requires us to confirm the first 15 who indicate they plan to attend. If someone does not RSVP, but shows up at the meeting, we can't guarantee there will be room for that person to attend. If anyone RSVPs, but does not show up by the time the meeting begins, we'll allow those present to fill the room, up to the Occupancy Limit.

PRESENTATION -
This month, Mike & Victor will present the Room For Rent leasing model. Mike has operated a Guest House in South Austin, renting rooms since 2015. Victor launched his room rental model in North Austin, last February. Both operate their models using Single Family Residences.

Some of the topics we'll cover in our presentation include >
- Househacking and RBTR (Rent By The Room) differences when a property is Owner Occupied vs Non-Owner Occupied (NOO)
- RBTR House Operations, Furnishings & Floorplans
- Lead Generation: Finding Roommates / Housemates & Compatibility Issues
- Screening: Choosing Tenants or Guests for smooth Operation
- To Sign a Lease (Or Not to Sign a Lease)
- Property & Asset Management
- The Numbers, Rent Comps & Operating Expenses
- Issues that Co-Shared Housing Face
- Why Leasing by the Room works better in Expensive Rental Markets compared to the Traditional SFR Lease Model

The presentation meeting format remains the same, as in past years. Brief, self-introductions to the group, the presentation usually accompanied with slides, followed by Q&A and time to network at the close of the meeting.

The Towneplace Suites has overflow into the indoor and outdoor dining areas for conversation and networking, following the meeting. Be sure to bring your business cards. Our meetings do not permit solicitation, sales nor deal pitches to the group. Since our founding, The Central Austin Real Estate Meetup focus is Education & Networking. Business opportunities often result from networking. We encourage those in attendance to build relationships for business success. The Golden Rule Principle.

We look forward to seeing you at one of the upcoming 2021 meetings this month (Jan 7 & 21). Ample parking is available and plenty of room to comfortably distance, as we gather. If you do plan to attend this Thursday's meeting, please RSVP via the Meetup.com announcement due to the Occupancy Limit.

Victor Steffen & Mike WalkerCo-Organizers

Hey Colin, assuming your NY license is still active you can submit an "Application for Reciprocity License". There's a $170 fee and you'll also need a copy of license history from NYS. The certified license and disciplinary history took me about 8 weeks to receive from NY... Perhaps due to covid? in GA you'll need to do 25 hours of post-license CE within your first year. here are more details

I'll echo what ryan said. New construction sells at a premium compared to resales. Even if you've never lived in it the home is still considered a resale and an appraiser will value it accordingly. New construction may be selling at 450k but resales in that area could still be in the 375-400 range. something to watch out for.  

This looks great, hope to make it!

@Chu L. Hi Chu, I just sent you a message. Yes you can connect with a mentor before joining. 👍