All Forum Posts by: Jayleen Soto

@Jayleen Soto Real Estate Guys

Finished a home inspector course and in the middle of a real estate one? And now asking about multifamily? 

Unless spending money on courses is your definition of "figuring out what is best for me", why all the different courses? 

Taking action, even buying a SFH, is 10000x better then spending all this money, learning all this stuff, and doing nothing. Don't trick yourself into thinking you are making progress when in fact, you are not and just on the hamster wheel of "learning".

Feel free to reach out if you would like. After buying and renovating a 4plex I am now on my way to becoming a operator in the multifamily space and found a good mentor that is helping me learn the ropes.  

@Jayleen Soto

Good that you are looking for coaching and or mentorship. 

There is NO best program. 

It’s more what’s the best program for YOU and that depends on your goals. 

Do you primarily want to raise capital? Or do you want to be an operator? What markets interest you? Are you going after Mom and Pop owners of 40 units or $50M Class A properties in Austin TX?

What are your goals? Each of these mentor groups have their own flavor pr vibe. Each has strengths and weaknesses. The key is to find the best program for you which is probably different from the best program for me. 

Reach out to 5 or 6. Attend some of their events. You will figure out what’s best for you. 

Hope this helps. 

 I would look for a few things.   #1 Training....everyone will promise you plenty of training, but ask to see the calendar.  No calendar, then training is suspect, right?  Ask how much the training costs?   Ask who provides the training...and how it is delivered....all online, in person, or a combo.   To me every agent needs training to teach you all the things you didn't learn in real estate school.   See if you can sit in on a class.  Sometimes that will also teach you about the culture.   Talk to other new agents in the classes.

I would also ask if the broker is in the office....or are you calling somewhere remotely?   How many agents are calling/using this broker?  What kind of experience do they have?  Are they currently still selling real estate or just running the brokerage.

Don't worry about splits day 1.....worry about day 365 after you've sold a few homes...and on your feet.  I think way way too many agents focus on the starting split....and don't realize they may be going to a brokerage with no training, no help, no support, no tools, and no other successful agents you will ever meet in the office to use as role models and be able to copy their systems.

Teams can be a great place to start, but don't get sold only on teams.  Every team works differently.  Just because you are on a team doesn't mean they're going to hold your hand and teach you to be a Millionaire realtor.  Possible, but probably rare.  Chances are if you join a team, you will be doing one specific wheel and getting paid like an employee, vs being a business owner.  That's not why most people get into real estate.   So you could very well be working 8-5 and doing only transaction coordination, or only marketing, or only outbound calling, or only answering inbound calls, or only showing property.   Nothing wrong with that, just know what you're getting into....if your growth expectations will be met, etc.  Talk with everyone one the team, not just the team leader.  Be careful not to get the life sucked out of you.....If you're on 50/50 split of their 70/30 split...you may feel like you are working hard for pennies.   On the flip side, if you work for the right rainmaker, you can potentially learn a lot and grow, and maybe have better income than you can generate yourself.  Also be careful when people use the word "team" I call that a marketing term..and lots of people use it loosely and maybe differently than you might imagine.

I would also look for a broker with an inhouse coaching program....someone for example who can sit side by side with you let's say for your 1st contract when you write it.  Someone who will push you to do more your first year.

Look for a broker with many successful agents in the office.  Most people need role models and success examples.   You probably need to rub shoulders with them once in a while....hear what they do, what they say, what markets they're going after.  You want people around that can provide you with some inspiration.   So ask who those agents are?  Ask the broker or team leader to introduce you to them when you interview.  Ask the broker what their production is.  Ask who the newest agent is with the most amount of business.

Ask some of these questions and I think you can cut the slackers from the success.   Interview a couple of big nationwide brokers, maybe a couple of small local brokers, and maybe a couple somewhere in between those...and pick where you think you will fit in best and get the attention you deserve.

Welcome to BP! If you lived over here near Brevard County, you would be a perfect person to help with our real estate brokerage that now is opening up a real estate mortgage company that way you could use both your prior and upcoming experience.