All Forum Posts by: Amiris Brown

@Brandon Simmons, for sure! Well, considering my strengths I might be worrying about nothing. Our Realtor is of the Baby Boomer generation, and I keep getting the impression that he doesn't know how to market nor network well whereas I do well at those things if I put enough attention/funding into it to start. For example, I asked him about Wholesaling and he just bulked and claimed all of it was illegal lol. Then I asked if he was interested in flipping. He's not interested in anything other than having a job as a Realtor. Then I asked if he was interested in setting up a Social Media presence and he just came up with all kinds of excuses why it would not help him, but being from Generation Y this boggles my mind as creating a Social Media presence cost nearly ZERO and pays off every time. Then I found these show apps to show houses, and he claimed that using such paid apps is only for high-end-clients. As a Gen Y person I don't care if you're high-end or not, my Generation would swarm to any Realtor who accommodated accessible technology lol. I think our Realtor's greatest failure is not adapting to 21st century business practices, but he's too stubborn to admit this and too heard headed to get a mentor. I networked for him to get a mentor (took my only one day and with no money), and I'm kind of angry since he was offered a FREE mentor from a well established Realtor who is also an investor out-of-State, yet since I am not of the male demographic when I went out to seek my own mentor I've already had to fork out $99 and $230-something. I got him a mentor with no money involved, and he turned it down. Ironically that same mentor will not mentor me, as I'm too new and not a male lol. Anyways, so I'm a bit bitter about this fact lol.

So maybe our down and out Realtor is just a bad example that I'm scaring myself with ...

Hmmm, @Jay Hinrichs so what you're telling me is the Realtor my boyfriend and I bailed out and set-up a GoFundMe page for just basically sucks at his job as a Realtor then lol?

(this is why I'm scared to become a Realtor lol: https://www.gofundme.com/297hwdg8 )

He says the DMV area is over-saturated and its too competitive etc etc etc when it comes to being a successful Realtor.

@Jay Hinrichs thanks so much! Yes, all of that I will take into consideration.

I guess I'm scared to invest in myself because I literally witnessed my Realtor failing, and he told me you have to fork out $2K per year to renew everything. So even if I pass the test it isn't 100% as every year I will have to make sure I make enough money to pay it. In the long run this money worry will not be an issue, but for the next two years I'm just a little be worried about forking out $2K into something I may not be passionate about. I want to become an investor, I don't want to keep Wholesaling let alone be someone's Realtor. If there is a tech or marketing side to Realtor jobs then I might be interested, as I'm both a techie with two IT degrees as well as a Graphic Designer who does print and digital media. Maybe I may end up liking the Realtor job, but I have to be serious about trying it as I would not be the one funding my Realtor education to pass the test ~ other people would. I don't use other people, I only use other people's money until I'm able to support myself. In other words, I don't want anyone helping me financially unless I am 100% sure I can repay them and then still make enough profit for myself as I go onward in such a career.

You make a very compelling argument though, so I'll have to marinate on this for a while to decide if I still object or not.

"I didn't have to go through my broker to save myself on commission. I simply just had to disclose that I was a licensed agent." @Brandon Simmons, I did not realize this thanks for pointing this info out. I thought if I worked for someone I would have to disclose my Wholesaling activities to them as well, but it sounds like I only have to disclose to the people I do Wholesaling with? I will consider these points and get back to you on if I have changed my mind or not.

@Gary Harris, thanks so much. I am contemplating on flipping, or buying a property with our loan and living in it for 2 to 5 years then reselling it. I just visited the BRRRR calc here on BP. Even though my boyfriend qualifies up to a $400,000 loan for a home, if we want to spend the same amount on expenses we do now as renters we will have to buy a home between $270,000 and $350,000. With $350K being our max cut off. I crunched the numbers three times, once myself and twice on the calc to be sure (since I'm bad at math stuff). The problem is, I will have to work hard to find such a deal in this area (not that I'm complaining I like searching for deals haha). My boyfriend does not want to live in a deprived area even if it is not a war zone, as he has issues with noise. It needs to be a quiet area, which those houses usually run $375,000+ right outside of our price range. It's a challenge, but I think I'm up for it.

I just want to be SURE that we can resell it for a profit in 2 to 8 years (probably 5 years), as we do not want to stay living in the DMV area. We are only here due to his awesomely paying job. As soon as we can peal ourselves away from that, we will be out to a better place. The end goal for him is to save up enough money to immigrate to Canada, it's been his dream for the longest and I want to make that happen for him ~ where he can retire in Canada. Personally, I prefer tropical paradises over the cold though.

There's a thing called technology and outsourcing, I specialize in both @Rick Wang. Try to lecture me later when I'm no longer in this tight spot, and we'll see who works smarter not harder ;-)

@Brandon Simmons, I was made aware of Dual Agency upon looking over contracts with my Realtor. However, he works for a company and explained to me that Dual Agency is if his company or him as a Realtor ends up showing us a property that he is representing or the company is representing the seller. This is not the exact same as Wholesaling, as he is still acting as a Realtor but is bound to represent both interests of each party. A Wholesaler technically has no oversight and nothing to lose in terms of licensing if they disregard the best interests of any or all parties. I see Dual Agency and Wholesaling as two completely different things from what I currently understand, but I could be wrong as I am new to this info and only know what I have heard from my own Realtor as well as a few free educational resources where Wholesalers have suggested they find it unethical for a Realtor to conduct Wholesaling. You're more than welcome to try to change my mind on this though, but what you've said so far just isn't compelling enough yet to get my opinion changed on being a Realtor who does Wholesales.

Thank you @Ian Walsh, yes very good advise but I had already done that until people directed me to start Wholesaling. To be honest I'd rather just skip Wholesaling and get right to flipping and buy and hold properties. Yet, three experts offline and more here on BP as well as the $30,000 to start BP YouTube vlog kept suggesting to start with Wholesaling. So to my disappointment I may have to start Wholesaling until I can move away from doing so. I had never even heard about Wholesaling until 3 weeks ago, and it is the area of Real Estate I know least about plus have a difficult time finding reliable free information pertaining to exact transactions. Which brought me here to BP lol! BP's content is the most useful of all thus far (granted I haven't had the chance to log onto the Fortune Builder's website due to current life obligations, but later in this week I will hop on there too since I have access for now at half the cost).

Working backwards, I want to not have to Wholesale. Therefore Wholesaling is a means to an end. I want to Wholesale until I save-up $80,000 from doing Wholesales. So that way I can move onto bigger and better Real Estate ventures, since Wholesaling is not investing it's just a job.

I attempted to tag people while using the mobile app, but was unable to do so @Pratik P., @Jay Hinrichs, and @Jacob Pereira see previous posts within this thread. I'm now back on my laptop for a short time.

@Jacob Pereira

If you are a Realtor you are suppose to represent the best interest of your client, therefore Wholesaling is unethical imho for a Realtor as you cannot simultaneously serve both parties (the buyer and seller) while conducting the same deal. Plus, acting as an Agent with a license will gain you commision and you can set your price at 6% or 10% or what have you as a Realtor. So why bother even doing Wholesaling when you could just write it in as your commission?

The Wholesaler is not unethical since they are out to represent themself, and that should be pretty clear up front to both the buyer and seller lol.