All Forum Posts by: Bill Mitchell

When realtors refer to "showings" does it typically refer to working with sellers, or working with buyers and showing them houses?

Thanks for clarification.

@Jeff Weissman How is this company sourcing the leads, online?

Hey Holly, he has plenty of leads. Like I said in the original message he markets and wholesales part time, he is getting leads RIGHT now that he can't do anything with for wholesaling purposes, but the would make for good listings. Will it be hard to do the things a listing agent needs to do (meet on appointments, take calls etc) when he is already working 9 to 5?

@Bryan L. Thanks for your reply Bryan. Have you had experience personally starting off part time as an agent? My main concern for him again is being able to take calls and show up for things as needed.

@J Scott He has realistic expectations. Since he already wholesales part time, he markets quite a bit (over 5,000 post cards a month). As such he gets quite a few leads that will simply not work for wholesaling purposes; however, they will work for listings. That's where he plans to get most of his listings from. Up until now he has simply been referring these type of leads to a friend of his who is licensed.

His biggest concern is making sure he has enough time to give the client full service when working full time. For example he probably would have to meet with clients after 5pm or during the weekend for listing appointments. And whatever else a listing agent typically needs to meet with their client for.

@Shawn Mcenteer Great response, thank you!

When you are working with sellers specifically on listings, do you find that the majority of the time they want to meet after work hours or during the weekend?

The family friend I mentioned in the original post actually already has a lot of experience in RE, he wholesaled about 15 houses last year using direct mail. He knows the escrow process and how everything works. He can determine ARV very well too.

His biggest concern I think is showing up for closings, or doing an open house, or needing to be there for a home inspector etc. But as I said, perhaps if your focused on dealing with listings and sellers, that is not much of a concern. If you were dealing with BUYERS on the other hand driving them around etc. then it would probably be more difficult.

There are ALOT of people that tend to look down on the notion working part time for instance I just read this "Would any of you go to a Part-Time Lawyer who only works weekends? How about a part-time plumber or electrician? Maybe I can refer you to my part-time Dentist friend. Real Estate can be a rewarding career; it just needs to be treated as such, do it full time or not at all."

Thanks again

Just as an aside there is a video here by RE/MAX where they clearly think being an agent part time is a terrible idea.

Hey everyone,

A good family friend of mine graduated from college not to long ago and has a full time job he does during the day. He has a wife to take care of, and as such can't just abandon his full time job expecting to make it on commissions alone (especially as a new agent).

Is it possible to work on the side part-time as an agent when you are working a full time job? Have any of you done this personally or know someone that has? His goal would be to transition from the 9-5 to doing real estate full time as an agent.

Then from there get in the investment side of things. Thanks for your feedback everyone.

With private money for say a rental property, are you generally able to make extra payments on the debt every month to pay off the loan faster? On the same note, could you get a 15 year private money loan on a rental, and then decide to completely pay it off 5 years in?

Or are there generally stipulations and such that prevent you from doing so between you and the individual(s) loaning you the money. This is strictly regarding private money, not hard money loans.

Thanks guys

Preparing for taxes this year. 2013 was my first time to wholesale part time + my day job. Can I simply do schedule C for my wholesaling profits using Turbo Tax or something of that nature noting my profits and expenses?

Or should I get a CPA involved. I only wholesaled in 2013, no buy and hold or retail flips, so I am thinking it may not be necessary to get a CPA at this stage.

Thanks