Got my broker's license...now what?

[Scott Schreiber]

Hi all,

I'm very new to the world of RE investing, still in the information-gathering stages, though now I'm actively looking for that first deal.

I'm an attorney in NY, so I got my RE Broker's license as many people suggest. I'm now a licensed broker in NY, but with no experience in RE.

What advice do you have for what I can do to (A) make money, and (B) develop the long-term skills or knowledge I'll need to succeed in the meantime?

Thanks, all, for any input you can provide!

-Scott

[Ceasar Rosas]

Hi Scott,

I congratulate  you on getting your Broker's license and jumping into the world of real estate. You are probably starting off ahead of many, with a sphere of influence that you can market to. If you are going at it alone, and not looking to join a company, I would hire an expert real estate listing and marketing coach to get a good understanding. If you are looking to build a brokerage then you would need to maybe find someone experienced to partner up with. 

If you would like to join a company, which I recommend, at least until your confident and are able to learn to go out on your own, check out some tips outlined below. Good luck!

1. Realize that some of these companies get a 10% residual for recruiting you. Think about this, that means someone has a vested interest in your success. Do you want to be the person who gets recruited by an agent who does 2 deals a year or at least 20 deals a year? Make sure the person that brings you in has a good reputation and a solid business. Look him/her up and see what their websites and social media pages look like.

2. Make sure the company provides TRAINING!!! Do not sign with a company that doesn't provide good training. Real estate is not easy. Easy barrier to entry, but not easy to build your business. It takes time and hustle.

3. Make sure they have a proven track record in the area you would like to focus. If not, run. Who's signs do you see everywhere.

4. If I had to do it all over again I would have went to work for a top listing agent as their buyer agent. To be the best, you must learn from the best.

I hope that helps. Feel free to reach out to me if you would like.

I've also started a meetup on the 2nd Wednesday of every month in the Bronx, next one I will have a mortgage professional speaking. Feel free to contact me for more info. It would be great to have someone with your background come in. 

Also look into property management, it may be something that can work for you.