All Forum Posts by: Norberto Villanueva

@Dan Host - Yes, mainly disclosure requirements, but also the use of non-DORA approved forms unless you're the principal can be dicey. Be sure to consult with your broker :)

@Dan Host - welcome to BP and the world of investment real estate. Seems you got licensed for your own investing which some are doing successfully, in spite of certain limitations. 

I suggest hanging your license with an investor focused brokerage to view transactions through an investor's perspective, seen best through a jeweler's loupe than the consumer's lens. A retail broker for the major part of my licensed career, I've learned more since accomplishing that than in all 14 years combined. Also, become knowledgeable with deal structuring and finance so you are more a problem solver than most...success will follow.

All the best!

Plenty of value priced, old world charm in Colorado Springs housing stock. Just have to know where to look! ;)

@Timothy Tooker. We seem to have more in agreement than not, so you must have taken offense to the "short timer's disease" statement, which was tongue-in-cheek, military parlance I mistakenly thought you'd appreciate. 

Anywho, you can rest assured I'm not questioning your work ethic or determination to make a difference in real estate. In fact, I applaud and wish you all the best with that.

@Anthony Ronco - Welcome to BP! And thank you for your service. 

A question I like to ask those considering a career as a licensed broker is, why? If the answer is not something along the lines of an undying need to bring buyers and sellers together, which is the purpose of the license, but more to learn the business, etc., I always encourage avoiding the brain damage and opting for forums such as Bigger Pockets, REIA groups and the like, focusing energy on building a dream team to include a licensed real estate broker who understands investment real estate. Think about it, the most a broker can make on any one transaction is a full listing commission, which is typically 6% in the Colorado Springs market, if they get both sides. MUCH more often than not, we split the commission at 3% or so. Now, if you found a real estate deal that MAY earn you 6% profit as an investor, is that really a deal? Probably not.

As a licensed real estate broker and formerly licensed mortgage loan officer, I personally had a hard time making them work concurrently, despite synergies between the two and, though I've come across a few who have made it happen, have gotten the same conclusion from most others who have tried; it's hard to serve two masters. I'm amazed at @Timothy Tooker's apparent ability to do so but then, he's almost retired and most likely senior personnel with short timer's disease and more time on his hands than someone who has "awhile to go before" retiring. 

As a Navy veteran I know firsthand the sacrifice going on deployment is and the toll it takes on one's personal life; the separation from your spouse, children, family...all of whom (hopefully) await your return but, not customers! They wait for no one! Consider the significant work it will take to build a customer base and then having to start over after each deployment or PCS and...unless you're Air Force, in which case @John Ford's ribbing applies. Just kidding ;), sort of. 

Back to the "why". None of this applies if the licensing will be to invest in your own portfolio and not to represent others, as there won't be teeming masses to answer to. However, we are held to a higher standard, such as no table napkin deals, and there are additional disclosures and conflicts to avoid which, may or may not be a hindrance as I know plenty who are making it work as "investors with a license".

Thanks for posting. I hope this helps and wish you all the best in your endeavors. Feel free to connect.

@Von Bradley - welcome to BP and hopefully, Colorado Springs! With a strong economy, growing population and five military bases, you'll make a great choice coming here. 

@Kurush Italia - thanks for posting. Now 38, the average days on market in the Colorado Springs MSA has jumped 10 days since August. However, with dozens of zip codes and no way that I know of to track them all without searching for each individually, perhaps it will help to see the averages per area as indicated below. 

But let me ask, what is your focus? Are you a rehabber/flipper, buy and hold or wholesale investor? 

@James Meyer - thanks for posting. Honestly, aside from a respectable marketing budget and follow-up strategy to source off-market deals, the best way to find viable deals is to attend local REI groups with lots of business cards because, where not impossible and actually doable, the MLS is most definitely NOT the best source, especially for fix and flip. For example, @Travis Sperr has regular Meetups that are well attended and full of networking opportunities. 

This said, @Colin Smith hit it on the head. The best way to get timely, reliable listing date is to connect with a REALTOR and I would add, one who understands investor speak.

All the best in your endeavors. Feel free to connect.

@Chris Nelson - thanks for posting. Determined to help clients use real estate to build long term wealth, if you were my client I'd ask you consider renting it out if market rents will provide a 10% return or better after expenses including management. If so, I'd then ask you consider taking advantage of owner occupant financing to rinse and repeat, and/or consider pulling out any lazy equity to fund subsequent purchases, all the way to funding your retirement, or your child's college years or...whatever is important to you at that time. 

Feel free to connect and, all the best in your endeavors.

Hi @Lainnie Daley - nice to see you on BP! Please tell hubby I said hey.