All Forum Posts by: Chris Armstrong

@Juan Santiago

I work as an agent and if you called me and told me what you were doing I would not work with you. Some will say that its a fallacy on my end but honestly, the time it takes to go back and forth with someone about properties and running comps for lower priced stuff. not worth it. You really are missing the point trying to wholesale MLS deals in my opinion. Just my $0.02

Just messaged you, I am an investor and an agent with a local brokerage. 

@Mackal Smith 

I am no mogul per say but I do have three units all airbnbs and I would be happy to share my experience with you. 

I can say that if you have an area that has a high tourism demand then the margins you can make are far better than a traditional rental. For example I was listening to a BP podcast and the guest was saying that each month in his 10 unit complex he will net 3K in profit. Well I can do the same thing with one door and my monthly average of net profits per door is $2750 ish. So I was pretty happy with those results. That being said there is a lot more that goes into it than collecting the money lol. The turn over of the units can be quite intensive, especially if you have multiple checkouts followed by multiple check ins the same day. So having good robust systems in place ahead of time would be a good place to start.  

There are companies that manage rentals for you, but they come at a high cost, 20-50% gross income. So at least for me in the short term I will manage all mine until I am tired of it and the units are paid off. 

As far as the taxes incurred by guests, airbnb platform has done a wonderful job of doing the collection and remission for you based on your county. VRBO does not do that but they do provide you with a percentage to hold back from gross earnings. 

Its a slippery slope with legislation, but if I can ride this wave for as long as I can I can put away some serious cash, so that if/when things change I will be well prepared to change my strategy into accumulating long term rentals or something like that. Hope this helps 

@Candice Brown

It was almost the easiest exam I have ever taken in my entire life. If you paid attention and did your part with homework and studying you should be fine. Many people undervalue the common sense element to this test also. If something in the question sounds unethical or wrong 99.99999% chance it is. Go with instinct. As far as discrimination laws and stuff, its a matter of memorization. State specific portion was a bit harder, but 99% memorization.  

Dont think about it or worry just go in cool calm and collected and then CRUSH IT

@Colleen F. Fantastic idea for a seamless transition. 

@Michael Wegener

I am sitting in the same boat as you are. I just got licensed and signed with a brokerage but I have a really good paying job (Synthesis Chemist with MS in Chemistry) that I am sick of. I am sick of the corporate nonsense and endless meetings that never accomplish anything except squandering time that could be used to address the issues that drew us to the meeting in the first place......

Needless to say, I'm teetering on the edge of jumping in FT. I have several rental properties that cash flow pretty well but I have never done real estate agent work before and never been in a sales position. I do have significant RE experience from an investing standpoint through. 

I just had my first child too, and the lack of guaranteed benefits is really the only factor holding me back, because of the astronomical costs of healthcare when purchasing on your own. Something like 1500-2000 per month....insane.

For now I will build the funnel for leads in my spare time and slowly dip my foot into the RE agent pool to feel the water. I wish you the best of luck! If there is ever anything I can help you with just PM me.

@Joe Camarillo

I too am newly licensed and faced the same issue of finding a brokerage that is friendly to part time agents. Well I found a brokerage that fits the bill very well and is super investor friendly. I got my license to further my investing career but now I see it as an opportunity to supercharge my investing with a nice cash flow input from selling. 

I interviewed with almost every brokerage in my area and they all wanted my to quit my job which has a nice guaranteed salary and flexible wok hours (Synthesis Chemist MS degree Chemistry). Talk to all of the places you can and sit down with the broker and just be honest with your goals, they will either work with you or you move to the next one. 

Don't listen to people who say you cant do this or that, anything is 100% possible and I personally know part time agents who make over 100K per year on the side. The biggest thing and in my opinion the most important is that your success is directly correlated to the effort you put into the business you build. If you build crap you will get crap. If you build a solid functioning machine then expect to succeed. Best of luck! 

All you guys have it all wrong..... All you need to do is cash out your retirement accounts and buy powerball lottery tickets. That way you are in control of your earnings and you're sure to win if you buy that many tickets. Snowball your winnings into another powerball and repeat. Its like BRRRR but called CIPWRWR.. (Cashout, invest in powerball, WIN, Reinvest,WIN,reinvest...) no brainer.....

I didnt read any of the responses but its very likely a company called RENATUS. They are a whole load of crap. Its a pyramid multi marketing campaign where you can "make money marketing our classes, or learn to flip etc from taking our expensive classes."

The best thing you can do is not call them. Instead go to an investor meeting in your area and take someone to lunch or coffee and build a relationship. You dont have to pay these clowns any money to get where you want. You will more than likely have a better experience with a mentor than at a ****** RENATUS thing. @Billy San Roman snake oil salesmen 

@Account Closed point, if you can make money from someone inside your sphere of influence using your license its a little extra icing on the cake. 

BEst of Luck to you and your endeavors