All Forum Posts by: Jim Lunger

@Kevin Polite put some money into it to bring up to snuff. Kitchen and bathrooms only. If you need the money, Refinance to get it back.

@Chase Yokoyama we bought a turnkey property for our first rental. The second was a discounted HUD home store foreclosure that we did mild renovations on. After that we were confident enough to start BRRRing. Those first two were enough to build confidence and an education.  Everyone is different but that's how we did it.

@Eric E., 412 Emmaus is a community space in Emmaus that could be an option. 

@Stephen Dominick, there are a few groups listed on meetup.com that meet here in the Lehigh Valley. Do a search for "real estate" in or around Allentown (or another town) to find them. I know of two meetings scheduled for tomorrow (Nov. 6th) and one in December. I haven't been to any of them yet, so can't comment on content or quality. If you find or attend any, let me know how it goes for you, I'm also looking to find and attend local meetings.

Thanks for the elaboration, Thomas.

What specific advantages of the tax code are you referring to here? Great posts, thanks for laying out all that straightforward info.

@Scott Schuetz, thanks for bringing a contrasting perspective. My plan is to interview 2-3 big chain brokerages and 2-3 smaller boutique brokerages. I'll be making a list of my interview questions this weekend and calling to set some appointments next week. 

My uninformed feeling is that the larger houses may be a "safer" bet, but also may be limiting in some ways. I have prior sales experience, as well as experience in business operations management. I'm guessing that the average new agent usually doesn't have this experience, so training programs of the larger brokerages may be cookie-cut designed to teach some skills I may already have. On the other hand, while I have no problem with initiative and independent motivation, I still know next-to-nothing about the nuances of the RE business, and don't want to set myself up for failure by not having a strong support network in place as I get started. 

As you said, I'll be talking to brokerages to see what feels the best and then diving in. Ultimately, I know my success is dependent on me, not with the broker I choose to start with. 

Thanks, Russell. I'll take this into consideration by asking potential sponsoring brokers about their brands and what market segments those brands focus on. 

I'm learning that it may be advantageous for me to focus on one or a few niches. Until I learn the market well enough to choose those niches, I want to be able to participate in a variety of deals to give me the exposure I'll need for discovery.

Thanks for your input!

@Russell Brazil, what kinds of things make up that "strong brand backing"? Is it name recognition alone?

Greetings BP agents!

After obtaining your license, did you start out with one broker and later switch to another? Why did you make the choice to move? What did you learn from the experience of working under a new, different broker? What were the similarities/differences? What value did you come to appreciate that you had previously taken for granted?

I'm now halfway through my sales licensure classes (the requirement here in PA is 60 hours), and starting to think about where I will hang my license. I would love to learn from any stories you'd like to share.

Thanks!