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Updated about 7 hours ago on . Most recent reply

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Paul Lacombe
  • Real Estate Consultant
  • Caffeinated, coast to coast
1
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Reality check please :)

Paul Lacombe
  • Real Estate Consultant
  • Caffeinated, coast to coast
Posted

Hi everyone, new member here - Paul. I'm a realist so give it to me straight.

For about a year now I have been helping a close friend as a "real estate consultant". From my day job, I have acquired a lot of knowledge and skills with; research, specifically osint, fact checking, risk assessment, human nature and I am very organized.

My friend knew my skills could be leveraged for real estate and lending (they do both for the most part) as a side gig to earn a little extra. So far as a consultant, my duties have been, research, due diligence, deal sourcing, admin support and advising.

The exposure has been great and I do genuinely find it interesting. However, I'm unsure if I can make it my full time career since we all know it can be hot and cold at times. The other situation, which hasn't impacted much yet, is I am located in Canada my friend/partner is in the US. 

1) Has anyone done consulting before? If so, was the money worth it? 

2) If I'm not bringing anything new to the table in this saturated job field, is it really worth pursuing?

3) A real estate license hasn't been required because I have my own fee structure that isn't commission based from deals, but would it be worth getting?

I understand these questions are more personal decision based but I enjoy hearing feedback and experiences from others. 

Thanks BP!

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Ned Carey
  • Investor
  • Baltimore, MD
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Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

@Paul Lacombe welcome to BP, I see it is your first post. 

In this business there are many people that we generally call Gurus. These are so called experts that sell courses and coaching to RE investors. It is a pretty crowded field. The barrier to entry is basically zero so many unqualified people jump in. There is a lot of competition and many are very skilled marketers.

Based on what you wrote you are more at the coaching end of the spectrum. This should be easier because you can have fewer clients. However much of your skills are available from inexpensive virtual assistants that can be hired from out of the country. 

I don't know the right answer for you. Be aware while you describe what you do a little differently, it is a crowded completive field. 

  • Ned Carey
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