All Forum Posts by: Christopher Dunson

@Brian Burke , I was not very clear in my message now that I reread it. Definitely, I need to know all of the brokers for multifamily and cultivate all of my relationships.

I was actually referring to brokers with whom I could associate with, as a real estate agent/ salesperson and hang my license who would be able to provide a great learning experience for sales as well as friendly for my personal investments rather it being a flip or multifamily. I recently passed all tests for my license here in Nevada.

KW seems to be pulling at me for one reason or another, although I heard they will not let me sell my own flip and I kind of don't like that, it could have its advantages and help build relationships with others. They also SEEM to have a good business model and structure for scaling, as well as good teaching and mentorship.

@Brian Burke

@Jay Hinrichs

Slightly along the topic of this post, are there any brokers either of you, or anybody else would recommend in Las Vegas? I'm sure there are some better than others, but my main concerns are investor friendly, as well as someone great to learn from. 

If there are any other important things I should bring up during the meeting with the broker or their associate I meet with that I may not be aware of as an investor, or RE salesperson, I am very interested in that as well. Thank you.

@Jay Hinrichs It's reaffirming to have two very successful investors really supporting being licensed. Jay, I've seen you support it before stating if spending so much marketing for wholesaling, why not get licensed, market with the same money, and there is a high chance the return would far exceed that of wholesaling. I thought it was a great point. Thank you for your contributions here on BP as well. They have definitely helped me progress.

 Hey Thanks John. The deeper I get into real estate the more important I realize it is to make sure things are done properly. 

Thank you for stressing that fact. Your advice is well received.

@Robert Borr That's very interesting and I hadn't thought of that. I'll definitely have to speak directly to a lawyer, and securities counsel to get everything outlined more clearly. Thank you.

@Brian Burke It's very kind of you to take a moment. I really enjoyed your podcast's here on BP. They helped inspire me do my first deal and continue to provide value as I grow. So thank you for your contribution to the community and to my post.

If you don't mind me asking what made you decide to get your RE license initially? 

I am familiar with how having a license can yield consequences on other real estate investing deals such as flipping, wholesaling, and small multi, and being that syndication is on such a larger scale I can see how it would have similarities and differences in risk and can have greater consequences if it's not done properly.

Every time I initially think about getting a license or not, I am worried about the consequences with each area of real estate I move to but in the end, I always come to the conclusion that if your doing everything properly, being licensed will just help tremendously and save a lot of headache in the long run because cutting corners can cause such a problem, and cutting corners is usually unethical with or without a license. I've just had way too many experiences, and seen a lot of examples where the license is a blessing, not a burden. I think I just needed a quick push in the right direction.

Definitely not off topic, that is one of my main concerns. Will having my license automatically cause them put me last resort buyer during the initial contact thinking I expect commissions? What would you say is the best way during initial contact with a broker to let them know that although I'm an agent I don't take/ expect agent commissions from this deal?

I'll definitely talk to both lawyer and securities counsel to get the details. Thank you for posting. It's been a big help.

I'm really concerned more about legality, liability, structure and if it really even makes a difference in a syndication on a large scale.

I'm beginning to form the opinion that it really doesn't make a difference.

Personally I see taking commission or not as a benefit and a negotiation tool.

 I definitely can agree with The One Thing mentality, and that may be the best way to go. Although my main focus is the investment side of RE, I did have a good 20 people try to buy and list with me last year, on top of my properties bought and sold, so it could make a big difference without prospecting too much for clients. 

And of course, it's pretty easy to not take a commission if I don't need to. 

I appreciate the point of view and can see the value in it. Thank you.

 Great input, and thanks for the congratulations. It's good to hear that there are people enjoying commissions from the syndications as an agent. That's encouraging, especially with the other fees that can be involved. What market is your friend in?

One of my main reasons for posting this is that I noticed many syndicators do not have their RE license, so maybe I'll find out why that might be.

If you don't mind me asking, how big was your first deal that you syndicated? My initial thoughts are to go 20-50 units, but I'm a big Grant Cardone fan, and I'm sure 100 units is very possible even though my mind tells me it's so far away. Thanks for your input and guidance. It's much appreciated.

Yes, absolutely. Thank you. That being said, there are a lot of brokers, especially in this hot market, that me having a license and expecting a commission, would deter the broker from working with me if there were multiple offers because he would rather sell to someone with no license and receive a full commission. 

I would though be willing to offer my commission as an incentive in the transaction to the seller or broker. So possibly a hindrance and a benefit depending on how it's used.

I'm moreso speaking from a legal standpoint when I ask about advantage and disadvantage during syndication.

Now if the legal changes are the same as with flipping, that makes it easier to see, but I'm sure there is more liability than that which comes with flipping.