All Forum Posts by: Chris Bounds

There isn't a need to debate if it's a good or bad investment. That's a personal decision. Show me where on eXp's recent financial reports that they are losing money. 

You'll be hit up by 100 brokers or more in the next few weeks and months. Even if you're part-time, try not to look at the fee schedule alone. It's important, especially if it's high monthly fees, but consider the training (including investor training), mentorship, flexibility, and future growth opportunities.

Building wealth and passive income is the primary reason why I ventured into real estate. That was enough for me to switch from flat fee to eXp. It's grown into a strong collaborative team of retail and investor-agents adding tremendous value to help each other build better businesses, wealth, and passive income.

Take some time to clarify your short-term and long-term goals. If it's to only buy rental properties you don't need a license. If it's to professionally involved in real estate long-term then a license can only help you. It's good to have broad knowledge, but you do not need to be an expert in every real estate trade. I can barely hang a picture on a wall (thank goodness for spackle) , but I've bought / flipped over 180 houses. 

It sounds like you're off to a good start! 

Building can be a good strategy especially if inventory is low in your area (as it is in most). I'd suggest making sure the numbers work not only for AB, but as a long-term rental, and a sale. Multiple exits help hedge for risks. 

I'm not a stock guy, but I am a buying equity at a discount guy. Being able to use 5% of commission from our flips and retail business to buy stock at a 10% discount is a no-brainer. 

Check this out. Market Cap as of today:

• Realogy: $1.23B 
  Re/Max: $650M 
  eXp Realty: $2.79B 

This is a quote from Inman

virBELA is in a completely different category class that's taken off like a rocket since the pandemic. Thankfully EXPI owns it (for now). eXp is aiming to compete with Zillow and Redfin.

A few suggestions

• A 2-4 unit and live in one of them. I personally like separation from my tenants
• House hacking aka a "live in flip"
• Flip a house and move in afterwards (personal preference). If you buy it right you can have little to no money out of pocket plus a ton of equity.

I second the Koby recommendation. He's on a team of investors that have flipped hundreds of houses and have valuable support and mentorship. 

More states are bringing up the issue of wholesaling and whether it requires a license. My recommendation is if you want to be a real estate professional and see yourself in the industry long-term, get licensed. It can only help your RE career.

I used this online course for the Texas license: 

https://www.realestateexpress.com/

Over time more states will start requiring a license "wholesale". 

When you boil it down, most wholesalers are engaging in brokerage. They operate purely with the intent to assign their interest in the contract to another buyer AND do not disclose that to the seller. 

Many wholesalers do not have the means (or desire) to close on the properties they are contracting. That in itself can be a legal issue in many states. 

Wholesaling is not bad (IMO). It's the shady individuals and operations behind the strategy that causes harm to the public and will prompt regulators to address the issue.