Loans, SFR's/Multi units and newly licensed, oh my!

[Nadia Garcia]

Hello BP community!

First post after reading many informative and useful threads; excited to be here! Thought it was about time to take action, get off the reading bench and ask for some advice/guidance. So here it goes:

I have been working for a mortgage loan broker for the past 1.5 years coordinating SFR and multiunit loans. Initially when I started working in loans, the idea was to study for my RE license along the way and gain knowledge of the loan side so I'd be more informed when I became an agent. I enjoy learning about the lending side and are always new education lessons that surface which each loan. I like the people I work with, and the office is a hub of long time experienced real estate owners, property managers, tax consultants and investors- great wealth of information.

Recently licensed, and am now on the search to hang my RE license with a brokerage (no brokers in my current office to serve this need). I’ve met with four groups so far, large ‘corporate’ and boutique as well. While I liked the vibe of the boutique more, I am thinking the larger companies would offer more transaction volume and bigger group of networking opportunities. My intention is to align myself with dialed-in colleagues, learn, progress and of course make some sales. I am still scheduling talks with more brokerage offices, and am being patient. Also open to working with a team.

But wait, there’s more…

After seeing fellow colleagues and clients create passive income with rental properties, I am convinced and excited to create passive income someday. BP podcasts have excited this movement in me as well; can’t get enough of it! This of course would be the ‘end’ game. I have to start somewhere, and think building wealth for future investments and becoming knowledgable with sales transactions would be a good piece of that puzzle.

That being said, the questions:

1. Should I still gear myself toward SFR sales, or perhaps work with brokerages that deal with majority multi unit properties? While I assume multi unit brokerages are more niche and more challenging to get your ‘foot in the door', perhaps I could assist a broker or team and start that way.

2. If I go the SFR route, would a larger brokerage or boutique be better for me as a newbie? Solo style or team oriented?

3. What other avenues/angles am I not considering? Sometimes outsiders looking in can better advise.

Eager to dive in and get my career and real estate endeavors rolling. I realize this business is all about relationships, longevity, grit, ideally fulfillment and am willing to put in the work. My next decisions today will set the tone for my future, so trying to make the best moves possible.

Any suggestions?

Thanks BP readers!