All Forum Posts by: Tyler Stone

@Marian Huish It is not that I wouldn't consider Selling but I am precluded from doing so because of the Firm I work for as an Investment Advisor. I am only eligible to list/sell for myself or my family. 

The goal with the license is access to the MLS, the ability to make my own offers, and conduct BPOs which require a salesperson license.

@Anthony Thompson, becoming a Broker is an interesting thought but as I'm sure you know would require two years in the industry and a Broker who vouches for your experience during that time, if I cant find a Brokerage to hang my license not sure I would be able to satisfy the second requirement. I agree with you on the small/independent side and that is most likely the path I will pursue. As always, thanks for the response. 

Hi BP Folks, 

I recently passed my RE Salesperson Exam in Rhode Island. I am strictly an Investor looking to hang my license in a Brokerage, I will NOT be listing/showing properties to clients. I intend to utilize the license for unimpeded access to the MLS and possibly do BPO work on the side. I do not intend to wholesale but do intend to acquire additional investment properties. Could anyone suggest a brokerage that would allow me to hang my license and is reasonable in regards to fees/costs?

Brokers out there, If there is anything that I should be thinking about from the Brokerage side when asking to hang my license or if I am missing something here please do tell. I am not confident that I completely understand this process. 

One other thing, I am employed full-time as an Investment Analyst and act as a registered investment advisor. I don't know if this is relevant but figured it is worth mentioning. 

Thanks,

Tyler 

Makes me think of a Hoarders episode where the home was full of feces bottles/buckets along with trash. The town condemned the property because of the hoard and the roof had a small crack. When all was cleared the town reversed their decision because all that was needed was a new roof. While watching I immediately thought that would be an interesting deal. Looks like you found yourself one, Well done @Scott Harvell!  

I would second @Mike S. comments. Most of the Big Banks are going to have fees/minimum balance requirements. I know one of the Big Banks in particular is not taking on Business Banking Relationships (over 1Mill in revenue) for construction and real estate entities. They are still providing small business banking accounts (less than 1Mill in rev) but if you eventually scale your business you may not receive the same services/support you would at a community bank/credit union. 

Thanks @John Hinnant, great info. 

@Matt W. any good property management firms in the area that you would suggest?

Hi All, 

What is everyones favorite Real Estate book relating to market cycles and successful strategies associated with each? 

thanks @John Hinnant. Can you point to any literature/sources of info for economic projects in the area? 

@Joe Prillaman you are right. It is a strategy used in my area and the PMs make a killing for those reasons. That being said, if you have the scale to implement with your own team you can make 4x in rental income a month during the summer vs Sept-May while still being cash flow positive each month. 

thanks @John Hinnant. Any thoughts on what you expect post pandemic? Has the school done their best in working within the COVID confines from a student/outside perspective and might that 1000/yr student trend continue with a potential return to normal?