All Forum Posts by: Van Blackman

Hi @Chloe Landon !

First off, wow! I want to commend your for taking on both of these jobs at once. I was in your shoes once upon a time, and know how much work it is! I used to drive for Uber in Los Angeles, CA while acting as a licensed real estate agent, working close to 90 hours per week between both gigs. There are some really good things to take away from working for Uber and simultaneously being an agent, as well as a negative or two:

1. The good - As you've already said, you'll be meeting SO many people that could be potential prospects, or at least know potential prospects that they can refer to you. Always be sure to carry your RE business card on you in case someone asks for it. Even if they don't, give it to them anyway! That's one of the magical things about Uber... one minute you're driving alone, and the next you're driving a total stranger, while earning money, AND they become your next client/partner/spouse, etc.! In addition to the people, you will also be gaining knowledge of your market because you'll be asked to drive everywhere to pick up and deliver passengers. It truly is a great way to make some quick money when you're a RE agent.

2. The bad - depending on the schedule that you set for yourself, there is a possibility that you will burn out sometime during your driving career. I know I did, pretty early on! I loved driving for Uber in the beginning. Eventually, I grew to hate it. You have to deal with people that you don't want to talk to, a lot of the people in your car are partying (I felt like I was missing out), and then of course, the time you could be spending building your network of buyers/sellers is all being spent driving around drunk kids for little to no money. RE is a business that needs your total attention. I would never recommend RE to someone that was not going to dive 100% in.

3. The ugly - Uber simply does not take care of their drivers enough for me to continue working with them. After you save for taxes, car maintenance and unexpected surprises, there is not enough in your bank account for you to feel like all the time you're spending in your car is worth it. Also take into account all of the miles you're racking up on your vehicle! It's a lot.

When it's all said and done, I'm glad I did it for a while because it is what kept me afloat. I would discuss getting on some type of draw system with your broker for a while until you get your feet wet. That way, you can do the RE thing 100% without putting a lot of time into 2 jobs.

Hope this helps!

Hi @Brendan Rowe !

Glad to see you on BP! Welcome to the club! 

Good luck to you, sir!

Welcome to BP @George Ostojic !

Good luck to you, sir!

Hi @Engelo Rumora !

Very impressed with your companies! Glad to see you're doing well in Ohio.

I always tell my first-time investors who I work closely with that a minimal profit is always "okay" on your first couple of deals. The trade-off is, you're gaining real-world investing experience that ultimately will be more valuable to you down the road than any monetary gains you make in the short run. 

Rather than spending too much time and money on seminars (which are definitely beneficial, but don't offer the hands-on experience needed to become a great investor), spend that time and energy on your first deal and do your best to make a profit. You'll learn more on your first flip in a few months than any seminar or program could have taught you in a year.

Putting those lessons into practice on the following deals is the challenge!

Hi @Sandy Fiser !

It's simple! Just continue what you're already doing: put yourself out there, and meet as MANY people as you can involved in this industry. You're already on BP. Now get on FB, Linked-In, Insta, etc. Go to all your local meet-ups. Talk with investors, lenders, buyers, sellers, wholesalers, contractors, etc. Literally, you CANNOT meet enough people.

Eventually, you CONTACTS will turn into CONTRACTS.

Aside from that, continue to educate yourself!

Hope this helps!

Hi @Michael Pittman !

Getting your RE license is ALWAYS a good idea! 

I obtained my RE license and RMLO license through Champions, and I HIGHLY recommend it! Be sure to take both the class course work, and also the test-prep course. They will literally teach you how to take the exam and give tips and tricks along the way.

I would also recommend the website Compu-cram if you think you need a little bit more material, but Champions has done wonders for my study time on 2 licenses for me thus far.

Hope this helps!

Welcome @Jessica Force !

Always love to welcome a fellow Texan to BP! 

Good luck in your pursuits!

Hi @Amit Friedlander !

We buy quite a bit of rental properties throughout a multitude of different neighborhood classes (in Houston). Although the market and subdivisions differ greatly between our market and yours, there's a couple things to look out for on your quest for quality income properties:

1. You don't necessarily need to "go where the money is". We buy homes that garner $1800 per month in rent, and we also buy homes that bring in only $800 per month in rent. Both can cash flow close to the same amount! It's all about your monthly PITI payments in relation to the accepted rental figure.

2. Be willing to travel! Like Pittsburgh, Houston is very spread out. You can miss out on some great opportunities if you restrict yourself to one area. 

3. Similarly, be willing to look into the various types of rental properties available. We purchased a duplex recently that brought in over $800 per month, per unit. We bought it for less than $90k. Each unit alone was worth $70k! My point is, be willing to go where the deals are, and be willing to open your mind up to deals that aren't necessarily what you THOUGHT you wanted. 

The important thing to remember is: always be willing to get out of your comfort zone, and always be willing to learn as much as possible. About your business and your market. There are a lot of possibilities out there! 

Hope this helps!