All Forum Posts by: Worth Styles

Hi everyone,

I often hear about investors getting licensed as an agent for several reason - access to MLS, saving on buying/selling expenses, etc. I'm interested in getting a license to have access to their resources in order to find deals and get an inner insight on the current market. However, I have enrolled in the 60-hour course to obtain a license in my state, VA, and found out that to be licensed you MUST work for a brokerage firm for a minimum of 3 years, otherwise you're given an inactive license (which is like not having one) I'm not interested in wasting 3 years working as an agent before I can get a broker's license to work on my own. So how do some of these investors with licenses do it? Is it just my state that requires you to work as an agent to keep an active license?

I don't plan or want to be an agent. I plan on always using an agent to buy/sell all my properties.

All advice, comments or thoughts are welcomed.

I thank you all in advance!

Everyone seems to have a different option here based on their experience. I'll give you the contractor point of view since I am one myself. This may not apply everywhere but his is how we work here in Virginia.

We require a 60-80% deposit in order for us to take a project. Yes, it is more than most contractors but that depends on how each company works, this is how we work. You may think it's a lot of money, it may be but our point of view is... we will NOT fund your project.

The point of view from the people hiring the contractor is, "if I pay them, I'll get screwed". Well, when we first started, we invested before getting paid and then WE got screwed. 

This will all vary from contractor to contractor but we definitely pass on project they refuse to make the deposit we request. In over a year that we've been in business, we've only had one customer refuse.

If you're worried the contractor will screw you for making them a deposit, then they're probably someone you should not be doing business with. I would encourage you to verify their state license and insurance before you hire them. Those governing the state licensing have very strict rules for the license holders, if something happens you can submit a complaint and the contractor may have his license revoked.

Hope this helps!

You could use HomeAdvisor.com. You answer some questions about what you need and they'll send that information to 3 contractors. You meet with them and pick whichever you like best. They also have reviews on their sites from other people that have hired them. Yes! those reviews are real because they cannot be altered in any way by the contractors, only HomeAdvisor can delete them. 

I'm a contractors on HomeAdvisor in Virginia, that's how I know this.

Worth

My name is Worth Styles. I'm an entrepreneur from northern Virginia. I'm getting started in real estate investing and I'm looking to build a network with investors in all sides of real estate.

I own a construction business which is managed by my business partner, freeing me up to spend time investing in real estate. We are state license, bonded and insure with 30 years of experience.  So investors looking for contractors feel free to contact me.

As getting started, I'm looking to flipping residential properties and work my way into commercial to buy and hold.

I appreciate all contributions you all provide.

Best to all.