All Forum Posts by: Rickey Wallace

It does make a beneficial thought @Mark S. I'm coming to the realization that it's not feasible for everyone to do both but, when done correctly as in w/ @Russell Brazil's case, it can be extra lucrative. I still have much planning to do b4 i fully commit to both but it's definitely an brain boggler lol

Thanks @Tamara Elliott-Deering! That comment actually helps shine the light on my query. I need some of the "negative" aspects behind it to grasp y people don't just do both

@Joshua Springer My initial question was for those people who decided to give up traditional working to pursue full time investing. Both of ur reasons r problems for the full time RE agent and the full time investor. Typically, people do so when they have a substantial amount of capital to rely on, HOWEVER, many of the podcasts stories I've listened to had just hope, ambition, n a dream to make it, especially back in the days (2000-08). So, u mean to tell me that it's not a reasonable option to try to accommodate one type with the other, since u wouldn't have an answer to either reason u stated?

Oh yeah, just by coming on this side u will develop knowledge about investors that'll put u at an even standing, if not further along, than many 0-2 agents in ur area. Maybe even further than some of the investors u will run into. All investors aren't created equal...

Troy Peters lol u would want to think it is but it's probably a really, really motivated seller(!!). It's a great feeling up to n after acquiring the license. U'll feel so enthusiastic, amped, n ready to take on the world! Take that motivation and throw all of that into that niche u want to b in to ensure optimal success. Any training, any mentoring, any books, any forum groups (hint hint lol), or whatever u can get to help arm urself w/ knowledge will help. Many ppl will come ur way and it'll help to be able to entertain their thoughts so u can secure a 2nd meeting....for which u will go back and learn more about what u made them think u knew a lot about 😆 To your success!!

Rick Stein lol NAR likes money...I know exactly what u mean about not knowing much about investing. Back when I was a wee lad, I had my license n was working voraciously to make work happen (I've been there Troy Peters so I tumbled thru those deserts lol. GL w/ that!) n ran into a few savvy investors. I wasn't ready for their work but I learned from them a bit of their perspective of RE. Flash forward to now, wanting to work as an investor made me WANT to combine the 2 fields, since everyone says "an investor should have their RE license" to make business easier. The license is coming back into style but I'm still pondering the mingling of the mayonnaise n marshmallows...lol

I can completely understand that thought process because if u know anything about Texas hold 'em poker, cash games n tournament play use that same mold: same basic foundation but vastly different play mechanics. However, in this situation, I'd think it'd b easier to intermingle the 2. If u r blanket marketing an area for the RE agent side, if u were to put out a generalized lead developing mailer, u could pick n choose how u would want to handle each potential lead as they come in. Or, direct mail any type n have all bases covered since u should be able to pick up buyers n sellers for any type of deal. Focusing on one definitely would make that singular one stronger but I believe that they would help each other more than I c a hindrance. I, too, plan on having multiple sources of income flowing at me n, unless something smacks me in the head to tell me otherwise about this thought, I think it's more of a plus lol

As I've been watching podcasts n reading topic posts, one thing that has crossed my mind: how come people aren't wanting to quit their jobs to become RE agents or brokers while becoming a full time investor? On paper, it sounds like a logical fit to put the 2 together. Both require constant monitoring of the real estate markets for upcoming RE trends to combat with. Both have u marketing n searching for new RE clients to do business with. Both require similar pools of possible the SAME networked ppl to amass more transactions from. I'm at a loss...kind of lol

Thanks @Ned Carey! Considering I remember some of the law mumbo jumbo from being a former agent, I'm still on the fence in regards to if wholesaling is even LEGAL as an agent cuz after disclosing u r an agent, even if one doesn't begin working for the best interests of the seller, it still might be of an ethical situation that might still put your license into jeopardy, should someone seek recourse after the transaction took place. Man, knowledge is fun..!!

Thanks @Tamara Elliott-Deering and @Russell Brazil for the insight! Yeah I was super curious if it was actually even a legal option for any, some, or none. Considering that my license will b acquired in the very near future, I'd like to know my full range of options after acquisition. I will still b asking my current realtor guy but would like some insight across the board from BP