All Forum Posts by: Sam Steadman

Hi @Maurice Davis-Taylor,

Welcome to BP! You are in a great spot.

Sam

Shoot me a DM and I'd love to connect you to some great lenders.

@Kory Kennelly

Feel free to reach out! I'd love to meet up and talk investment properties. I'm here to help.

I believe that it cannot hurt getting your license and being an investor. I agree with @Russell Brazil about the ability to excel at one profession. However, it is possible to be successful at being a Real Estate Agent and investing. I'd say that if you are that interested and determined about them going together that you should try it. 

Even if you failed at trying to do both you would learn from the entire experience.

Sam 

@Francis A.

Absolutely. 

I do not live or own in Bryant. However, I do have access to a good amount of information about the Bryant neighborhood. Let me know if you need any assistance.

Sam

@Suzanne Griffiths

Suzanne,

I'd love to learn from you as to how you found those deals and made those estimates. I am from Chanhassen and would like to learn from you and hear about your experience. PM if you are interested in meeting! Congrats.

Sam

@Alfredo O.

If it isn't selling I would highly recommend staging the property. It can really help improve the chances of selling the property and at a premium price! Often times the price of staging comes right back to you in price improvement with offers b/c of the attraction of more buyers. 

That's my personal opinion and what I have seen in my experiences as a Real Estate Agent. 

@Madeline J.

In MPLS homes are going quickly. However, if you are not staying in Portland for the long-term why buy an investment there? It would be hard to manage and could be a headache to re-sell. 

If you are moving back to Minny for the long haul I would advise saving up your cash and having a stronger downpayment on an investment property when you move back to Minnesota. 

Sam

@Jesse Chunn

I had the same question as you. I currently have my license.

I'll try to be short and concise with my answer.

Benefits

- Better access to information A.K.A. MLS! This can be huge for finding properties and gaining comparable information for investments.

- Like you said, you keep more of your profits on the buying and selling side of a transaction!

- With a license you better understand the contingencies, contracts, and other paperwork involved in a deal

- Overall, getting your license cannot hurt b/c you gain more information about the whole process and can even help family and friends sell/buy properties if you are interested in making some extra cash!

Losses

- The class takes a good chunk of time to get.

- You have dues and expenses along with holding a license

- You have to maintain it and make sure you take CE courses to keep it active

I think that it is worth it. I am have not been doing it for 30 years so I am sure there are others with different perspectives and information, but from my experiences it has been excellent. Also, it is very affordable to get and maintain a license when you calculate how much you save from 2.7% on the buy side and 3.3% on the sell side of every transaction. Essentially, knowledge is power and I don't think it can hurt to take the courses and get licensed. If you end up hating it you can always drop it!