All Forum Posts by: Erik Pierson

@Joddie Mcclain That's great to hear and congrats! Sounds like you're really hustling. What's the market like in Orange Park, FL? I'd love to hear more about your experience. I'll PM you!

@Account Closed That sounds frustrating especially as an investor I'm sure most of the time you do not have time to wait around for your realtor to get back to you or you risk losing the deal. I'd like to hear more about your experience with realtors from the investor side. I'll PM you!

@Kevin Peña That's great man congrats! It's always nice to hear success stories of people in the position you want to be in. I'll PM you about the webinar.

@Rob Massopust Awesome advice Rob. I like how your comment first addresses goal setting which is something that I am still in the process of. If I decide to do go through with this I need concrete goals to stay on track and not lose focus of where I'm heading. The ultimate end goal is to obtain cash-flowing rental properties in solid appreciating markets. There's a million ways to get there so I just need to figure out what my way will be.

Your recommended plan is a great one. Unfortunately, my wife and I just bought a townhouse at market value 6 months ago that we currently reside in. We tried to find a fixer upper in our area but it was incredibly difficult due to the high market value (average home value in my town is almost $500k) and extremely high competition for investment properties. We placed about 10 offers on fixer upper properties but could not compete with the investors making cash offers for full asking price with no contingencies. This is not an excuse. If we kept looking I'm sure we could have found a deal but we only had a month to find a place and move because of our jobs. Now, I almost regret not renting temporarily until we found the right deal. Either way, we are confident in the value of our home appreciating well over the next few years and when we're ready to move we will hold onto it and rent it out. I feel as though obtaining my license would forcibly involve me in the industry and make the right connections to get into investments in a tough market like this. However, going to REI meetups and events may be able to achieve the same goal.

@Lucia Rushton

Thanks for the insight! I'd love to hear more about your experience and what pushed you into full time. I'll PM you.

@Sean McDonnell

So I obviously like your 2nd response much better because that is my exact thought process. "What is the worst that could happen?" The WORST case scenario is it doesn't work out and I go back to working my normal job since I still have all my credentials. No big deal. I don't buy in to the "it didn't work for me so it won't work for you mindset" because I've heard that from many people in many different situations. I am absolutely willing to hustle and put in the upfront work and if it doesn't work out it doesn't work out. Additionally, I know you don't have to be an agent to invest but I like the idea of having more market knowledge and immediate access to the MLS.

I spoke with @Account Closed on the phone this afternoon who provided some great advice from personal experience on the matter and interesting perspectives on both being an agent and investing in my market. He encouraged me and told me that it will be tough and demand time but if I'm passionate then I will make it work. 

In conclusion, thank you for the advice. I love having all these differing opinions from different people in different parts of the country. I'd love to hear more about your experience as a dual career agent and what pushed you into full time. I'll PM you. Thanks!

@Brock Crowe That's amazing sounds like you're killin' it! I'd love to connect and discuss your experience if you have time. I'll PM you!

@Account Closed Those are great milestones to aim toward. Thank you for the advice it's nice to have an idea of what goals I should be setting for myself if I decide to go through. I'll PM you it'll be nice to talk to someone in the area.

@Joaquin Camarasa Thanks for the helpful advice. I understand it is always slow in the beginning while trying to get your name out there. Unfortunately, since my wife and I moved here recently we don't have a large family/friend sphere so direct lead gen would really be the only way to get my name out there as well as attending open houses and networking.

I'm sure there's many people out there on the BP forums who either currently or have previously held a real estate license. I would love to hear from anyone who has worked as an agent as a 2nd job or side business. I currently have a "W-2" job that I work 40-50 hours a week. I love real estate and have been considering a career change but do not want to leave the security of my current job to pursue it if I don't have to. Even if I did not make it a career change I figure I could use the extra income and industry knowledge to help with investing. I met with a couple realtors to discuss the specifics of getting my license and ask some basic questions but I'm really curious to hear about your unbiased experience. How did you manage your time? How much longer did it take to get your name out there and build up a client base not doing it full time? If done successfully, is it worth the extra income? Does being in the industry help you on the investing side? Any feedback is appreciated!

(I'm located in the Northern Virginia area)