All Forum Posts by: Laticha Jones

Hey Eric,

I'm not sure what other people have to say about this but I think your going to have a hard time. I'm a local Real Estate Assistant here in Dallas, and I've been listening to allot of talk about hiring VAs to do various tasks. 

The first thing you have to realize is that all VAs need to be trained to do the task your requiring, which means training them to understand Market Data, so that they can give you close to accurate assumptions.

Then giving them access to an MLS or MLS type service, along with additional GIS and data reference sources (unless you taking about them doing some type of online bird Dogging).

I have a Master's Degree in Real Estate and sometimes finding good market resources are difficult. So I can't imagine how difficult this would be for a VA in the Philippines or a VA not near where you needing your data.

I can feel myself over thinking this, so I'm going to sum this up by recommending you consider hiring a real estate college student, who's very familiar with researching market data, or a realtor during the winter down season. They wouldn't need as much training and it would be easier to train them and get closer to accurate information.

Or get ready to be double checking all the facts and information you VA send you.... Just for a few months to a year.

Hey Jose, I am currently reading the due diligence handbook for commercial real estate. It's a pretty easy read. I see a lot of people recommend finding a mentor, which is a great idea. But, I like to read what the so called gurus and experts recommend in terms of tips and money saving ideas. I also find that when I'm working with mentors you get a one sided view of the industry.

I am also eager to read this new book I saw on Amazon presale the Turn Key Revolution. The preview says that it's going to discuss buying, sailing and managing through a third party. I may do a book review later next year.

Great post. I've been on the fence vs Doing it myself. This helped me decide. My tax preparer said he's do it all for $100 plus the filing fees. But it seem to good to be true. He made it sound to easy.

Kudos, once you start a group just hurry and recruite a partner. Starting your own group is a good way to get your name out there and build credibility. Keep us posted on your meetings.

Thanks @RogerPoole 

Trust me... you're not alone. I have found there are quite a few people who can use the service expecially out of state investors, and investors moving into the multi family market. There are several larger companies that focus on real estate research, like Green Street, but they are mostly commercial real estate.

Thanks @Alina I'm only committed to passing the test, because I try to finish everything I start. And you have great advice. I spent the day googling  local associations. My comfort zone is real estate groups and associations, but I'm planning to visit a few accounting and then property management associations. From that I should be able to decide what path to take and narrow down how to market my skills.

My Quick Background

Over the past year I have been trying to pass the national portion of the real estate exam, and I have now flunked it 5 times (and I'm planning to take it 3 more times before I give up). I have a masters degree in Real Estate Finance and I have worked for the Department of Housing and I the Department of Public Works. I do Tax Prep and Bookkeeping on the side for a local accountant, and for 2 years I worked as a property scout (Bird Dog) for a local investor.  The whole purpose of all the education was to become a real estate investor and create a property management company. Flunking the National portion of the Real Estate Exam has me feeling defeated and like it wasn't in Gods plan for me to be in Property Management. I have noooo desire to work as a Sales agent, even though I love analyzing local RE Projects and DEV trends.  

My Soul Search

So after some soul searching I realized that my education was not being utilized and decided I wanted to work as a virtual real estate assistant. I have attended several workshops and seminars discussing how to best utilize a RE Virtual Assistant (social media posting, checking your emails, updating CRM software etc.), and I am taking a class on how to become a RE Assistant. I feel like a local assistant could be doing so my much more. 

My Vision

An Independent RE Back Office Support Company that offers:

~Quickbooks and Sage Bookkeeping/Set up

~Property Analytics & Research

~Property Management Support (Until I'm a realtor I'm limited to what I an do)

The Tag line on my website says " When a Virtual Assistant just isn't enough"

*eventually I will hire employees*

My Dilemma

I Want to Be More Than an Overseas VA. I have been brushing up on my Argus Valuation Skills, Esri Business Analysis, and restudying my Accounting Books. Then last week I mentioned this all to the investor that I worked with to get her opinion on how to market myself. Meaning should I market my self as an Advanced Local and Virtual RE and REI Assistant or should I market myself as a Real Estate Research Assistant.

Then she kind of chuckles and says, "Tish if an investor can't do his own accounting and property management, they don't need to be in the industry." So said to her every time I'm at these various REI meetings and Guru training I'm running into people who aren't running accurate property valuations. They are utilizing local real estate agents, to run market reports that really don't give complete forecasts. Then I realized that she was one of them, because honestly I worked as a bird dog for her, but she frequently calls on me to research a property,or go pull a permit. I also realized that she didn't know much about commercial real estate.

Lastly I explained that I really wasn't planning to exclusively work with RE Investors. When a doctor wants to relocate his business, I want to be the person he calls for property or demographic research, or I want to be the person a local broker calls when he needs help with forecasting. My investor friend just thought this was all "nuts" she said people need Virtual Assistants to handle back office work not research. 

My Question

How should I market my myself as an advanced real estate assistant? Or should I simply market myself as a Real Estate Research Company? Or should I scrap the whole idea, go left and do what my husband wants? Which would be to concentrate on staring a Property Management Company, that also provides bookkeeping services?  All of these Ideas are great, because I love property management as well, I'm just not as trained in Property Management as I am in Accounting and Research.

There ya have it,

Thanks for reading all this any suggestions good or bad are welcome. 

Okay so here's my delimma ... hopefully I will have passed my state and national exam by October... and I was just informed by my husband that we will be moving to Colorado in July (6 months later).

I DO NOT want to sit thru those pre licencing classes again. Yet I understand I have to be an active realtor for 2 years in order for me to just take the Colorado State exam.

I was chatting with a chick from Ebby Holiday, the other day and she said "well we have a great referral program or partnership here, if you want to do that."

I didn't want to sound to dumb so I decided to post my questions in a few boards.

1. Is a referral partner considered an active realtor?

2. How can I work solely as a referral partner (what are the linguistics/how do you make a decent income just doing referrals)

3. I meet several people here in Texas that sell real estate in Atlanta ... a major complement to real estate are showing and open houses so how does a realtor live in one state and show in another state?