All Forum Posts by: Sam Conway

Agent all day. There are so many more ways you can generate income via real estate when you get your license, wholesale, list, buy for clients. 

@Sam Conway sounds like you'd make a great agent with your ability to get along with people and having a customer service background. I'd look at what the top agents in your area are making compared to what the top wholesalers make. It doesn't have to be an either/ or scenario as well. Having your license complicates things a little bit for wholesaling as far as legality goes (you need to avoid any situations that could be considered a net listing, many brokerages won't allow it, you'll have a duty to treat both customers and clients with honesty and will need to disclose, disclose, disclose, etc.) but having your license also gives you more options to offer sellers. For example instead of just taking the normal wholesaling approach you can say, "I can list your property on the MLS for x amount and expect it to sell in x amount of time, or I can connect you directly with a buyer off market and net you x amount in x amount of time, or I can buy it from you right now personally for x amount and close on x date". Just an example but having the ability to offer more options will be an advantage I would think. With you being in CA where properties are expensive/ commissions are high, becoming and agent and building that business would probably be lucrative enough without having to mess with wholesaling at all, but that doesn't mean you can't do both if you want to, as long as you are careful to do the wholesaling activities in a way that is above board.

Hey @Sam Conway - I think this question very much DEPENDS on your level of determination and skills. 

Do you enjoy working with people? Do you like to be at the fore front of negotiations or at the back-end just finding the deals? Aside from the fees that you have to pay, just being your OWN business in of itself is very difficult. YOU have to manager your time, pay your fees, continue learning as a realtor, and continue sourcing leads for your business to grow. 

Hope that helps a bit :)

Wholesaling is one ouf the hardest things to do - most agents lack some of the skills required, in particular the rehab cost part, understanding the extend of structural issues, profit models of investors etc. Takes a lot of experience you can only learn over time in the field. Most of the time you are dealing with low income housing. Plus it's legally in a grey area.

I do both and enjoy it but I can tell you being a Realtor is a career-and it is expensive if you aren't all in (board fees, licensing, e&O insurance, brokers fees, marketing etc.)   Oh and no retirement provided for either career btw :)

Sam I am biased, as I use Nathan above.  I have heard decent things about Sandstone.  I would recommend you have a conversation with Nathan before making a decision. Good luck! 

When picking a property manager, really think about what's important to you, and what your investment strategy is: 

1. How quickly do you expect communication, and how involved do you want to be.
2. What kind of properties are you going to purchase? If lots of maintenance and turnover are expected, will their fees overwhelm you? Will they service that area?
3. What's their timeline on maintenance, nothing causes more turnover with tenants than bad maintenance.
4. And with Cleveland specifically, ask how they are handling Lead Clearance testing.

Welcome to my hometown, you're going to do great.