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Updated almost 5 years ago,

User Stats

20
Posts
9
Votes
Ajay Sharma
  • Investor
  • Elgin, IL
9
Votes |
20
Posts

Sponsoring Broker in Northwest Chicago Suburbs?

Ajay Sharma
  • Investor
  • Elgin, IL
Posted

I recently passed my real estate exam in Illinois. I decided to pursue a broker's license to develop a passive real estate income portfolio. My interest is commercial and industrial properties. I plan to add a few flips and rental investments along the way. 

I called two companies and they mentioned that I would be better off finding a sponsor in a non-franchise company because of the monthly dues. He also mentioned that most agencies are looking for full-time brokers.

I am involved with a few other business endeavors (e.g. working with general contractors for renovating a 40K sq ft industrial building, investing in new $20K industrial building) to help expand my knowledge as I get deeper into real estate "deals". My main interest is to use my license for passive income while I continue to work on existing and upcoming projects. 

Will brokerages offer such sponsorship? Is what I'm trying to do "frowned upon"? I heard that it wouldn't be a problem because many brokers obtain a license to support passive income. Thoughts/suggestions? Your help is much appreciated.  

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