All Forum Posts by: Nicholas Ferraro

Depends if you like money or not

If you want to be an investor or work with investors I think there is no better place than KW.

You can start by reading the books we wrote ....3 books specifically....Millionaire Real Estate Investor, HOLD, and FLIP.   It's not about investing per se, but you might also want to read the ONE Thing and start listing to the podcast Think Like a CEO.

I would venture to say there are probably more investor agents at KW than with any other company.  You just have to find the right ones to hang out with.  The founder of BP is a KW investor agent.  We regularly have investment opportunities and seminars in my office, but of course each office is different.  I think no matter which niche of sales, or which niche of investment you want to do, there is someone at KW doing it not only in a big way, but in a GIANT way and that is different than every other brokerage out there.   I thought it was really cool in my office for example that we recently had a panel of all women investors.  All had difference niches...one AirBnB, one flipper, one buy and hold, and one does a little bit of everything.   We're trying to provide opportunities for people to build wealth, not just transaction income.   If you focus on it, profit share is also a way you can build passive income.  Even the founders of EXP have made pretty good profit share from KW, and I believe continue to do so.

One thing I would suggest is NOT to invest in brokerage stocks. These have been horrible performers. KW is not public, so you can't buy stock, but if you want to play around in the stock market you can buy all kind of brokerage stocks if that is where you want to go. If you want to invest in stocks, I'd probably look at the REIT type stocks though vs the brokerage stocks.

At KW you can be cloud based if you want to....there are some people I've never seen in the office or even live in a different state or country.  Of course we have brick and mortar too, so that is a nice option.  What I see though for the most part is that the people who plug in to in person training and are in the office networking and interacting are the people who become producers.  Not to say it can't be done virtually, but very very tough.  I think you have to be the 1% of the !% to think there is even a chance that will work for most people.

My own experience, which could be different from others.  I like Keller Williams because of the training that they offer.  I found the training to be excellent and it had a very good support staff.  eXp didn't seem to have a similar set up.  For a new agent, the training and camaraderie in the office is extremely important to professional development.  eXp may have these in some locations, it just wasn't the case in my situation.  Just based on my experience, I like KW more.  But like I said, this is just my experience and someone else could experience the complete opposite. 

Hey Nicholas,

As someone who got into real estate as a second career I did not dive in head first on my own.  Prior to becoming a solo agent I worked for a top producing agent at a well known brokerage for almost 3 years.  By doing so I was involved in over 200 transaction in a short period which allowed me to gain more knowledge and confidence than I would have on my own.  In my market the average agent does 3 deals a year so you can imagine how long it would have taken to experience everything I did in that role.  While it may not be as glamorous to start, even 1-2 years could provide you with a ton of knowledge to set you up to be even more successful on your own.

Best of luck!

Hi @Nicholas Ferraro Welcome to the community! Glad you're here. I always recommend that anyone getting started attend in person meet ups. It's a great way to become more knowledgeable on your local investors and create your team while you're getting started. BiggerPockets has a section just for this, Under the NETWORK tab- Meet up

https://www.biggerpockets.com/...

Best of luck to you!

@Nicholas Ferraro

You will want a purchase and sale agreement and I recommend having a title company handle the transaction. You can get purchase and sale agreements from BP files area.