All Forum Posts by: Zachary Cain Humphrey

I have my real estate license but have read that you will need a brokerage license to own a property management company or work under a brokerage. I want this company to be in my name (LLC) I want to hire my own contractors, accountant, etc. but don't know the stipulations with brokers and how much a broker really gets involved in your business. For example, does the brokerage have to own the company? Can they just have a small share in it? Are their certain broker holding companies that deal with these types of situations?

I was just curious about this because my friend's dad owns a property management company but I'm pretty sure he doesn't have a broker's license (eventually me and my friend will sit down with his dad and pick his brain on this).

Also, another thing I want to add is that my friend who would be my partner in this does not have a real estate license. What is he legally allowed to do in the company if we were able to successfully bring it to reality?

Thanks guys!

From Cincinnati OH

I see your in the Cincinnati area. I work as a travel nurse in the area and invest in the Red River Gorge in South east KY. What markets are you doing STR in?

2 Votes

Cincinnati, Ohio

Helpful post. thank you for sharing!

1 Vote

Self managing isnt that difficult, especially with just one property. I would not pay a company to do it unless you were absolutely never going to be willing to manage.

You'll save money and likely do a better job than any company would anyways.

Ultimately by learning the few skills necessary to manage well, and creative an attractive air bnb listing, your return on your investment will be much better.

0 Votes

Jacksonville, Florida

Quote from @Sharath Vyas:

Anyone invested in Bradenton ? LTR MTR or STR is fine, just wanted to know if its worth buying a house there, staying in it for a year and then LTR or STR or MTR? It is a safe city?

The beach of Bradenton is amazing, but cost is insane.

0 Votes

Tampa, Florida

We do 6 months ahead. Gives me more control and creates demand for high value weeks. Sure others may book before us if their calendar was already open BUT by the time my calendar opens demand has hightened as availability has decreased meaning I believe I get higher ADR. Such as for the summer months.

1 Vote

Quote from @Pretty Khare:

Quote from @Noah Laker:

Hey BP Gang,

I'm a real estate broker in Sacramento, California (23 yo) and I host about 125 properties on AirBnB and VRBO, mostly in Sacramento, CA and Phoenix/Scottsdale, AZ.

I am new to BiggerPockets but am hoping to help out as much as possible! I have followed quite a few STR threads and I will continue to monitor this one if anyone could use some general or technical advice. My partner and I are quite savvy with the software platforms if that helps. :-)

So ask me anything! I am here to help.

Thanks for starting this thread, Noah. Appreciate your offer to help. Are you seeing a slowdown in both occupancy and Average Daily Rates across your listings in the last few Months compared to the same time period last year? How are you planning to prepare your portfolio for the impact of a likely recession in 2023.

How did you come about the opportunity of the 120 properties? Was it built up slowly? What is your story of how this growth happened and from that any advice you would give for others to scale?

0 Votes

Sacramento, California

Quote from @Sienna Cardona:

Hello!

I've shown plenty interest in real estate for a while now, however, I'm stuck on figuring out how to go through with it. The majority of the reason is because of my age and college confusion. To give some context, I am about to graduate high school in May, but I desire to start wholesaling now to eventually reach the point of doing house flipping later. Is it possible to start wholesaling now given my age range? If so, how can I do that?

To cover the part about college confusion, I am stuck on deciding if it is a good option for me. Is it recommended I go to college to help me for my house flipping career? I am planning on getting a degree in interior design to help increase my success and potential in house flipping. Is it a good idea or should I get a real estate certificate instead?

Apologies for all the questions, I really want to make sure I am heading in a successful direction to get into house flipping later on. I'm not sure if this is a good place to discuss these questions, but I want to hear advice from professionals in my desired career path. I'm open to any suggestions.

Thank you!

I suggest becoming a realtor. This will help you much more than the interior design piece. There are successfull designers in the space who build their platforms on social media rather then having degrees. their social media page showing how they design draws business rather than having a degree behind it.

Starting wholesaling first see if your state allows it. If they do, then you need general real estate education. Read books on investing, especially comping deals, calculating ARV, etc. Try to build a social media presence around what you are doing. Maybe start a youtube channel or network on bigger pockets. Also consider attending local state meetups for real estate investing. In doing this you are increasing connections, then through that you will get more understanding.

0 Votes

Quote from @Jonathan Page:

Quote from @Zachary Cain Humphrey:

Quote from @Jonathan Page:

Hello. I'll first introduce myself a bit to help you guys better understand my situation. I'm 21 years old and live in a college town a few hours outside of Chicago. I had a good paying position with a EV company that allowed me to build a good amount of reserves for investing. Unfortunately, I tore my shoulder pretty significantly and can no longer perform at that job. Right now I'm a part-time bartender but I'm making a fraction of what once I was. I do not have a degree and don't plan on getting one, however I'm in a position where I cant find a career to effectively fund my reserves or get a conventional loan. I was wondering if anyone here had any good ideas for a job that doesn't require a degree and isn't extreme manual labor? Or possibly what you guys do for a day job? I thought about becoming a home inspector or an appraiser, however I don't know if it would be wise for my investments and career to both depend on the housing market. Thanks anything helps!

Have you ever purchased your first home? If not you may be able to get a low percentage down loan on your first investment.

Maybe consider becoming a realtor if real estate is something that interests you. Becoming a realtor would also let you get into the knowledge, daily tasks and study of real estate. Such a career would mesh well with your goals and you can get licensed in 6 months. By the end of this year you could be selling homes and have a much better income coming in to fuel your investment goals.

I plan to purchase a foreclosure that could use some work with cash, if the math makes sense. Then possibly refinance, and look for 3-4 unit property as my first rental.

You have a plan and thats the good thing.

0 Votes

Quote from @Joel Oh:

Quote from @Zachary Cain Humphrey:

I agree that approaching business from a point of view that understands business tends to ebb and flow naturally no matter what business it is, is a mature way of facing day to day operations. However I would argue reviews are mega important. Especially for new hosts. Strive for those 5 star reviews. Its easy to say if we have 100 units then no big deal, but most people will never be able to afford scaling to that level. Therefore with fewer listings optimal performance must always be maximized in order to squeeze the most out of that listing that you can.

Of course the minimum status is superhost haha but i think a lot of guests don’t care about the reviews as much as hosts think about them. Many people know a lot of reviews are fake and manipulative. For example i honestly don’t care about Amazon review anymore.😂

very true haha

0 Votes

All Forum Posts by: Zachary Cain Humphrey

Zachary Cain Humphrey has started 8 posts and replied 188 times.

Post: Wanting to start a property management company but do not have a brokerage license?

Post: The reasons why only some STR Operators & Airbnb Arbitragers succeed & others don't!

Post: Newbie STR owner again

Post: Bradenton Investing in LTR MTR or STRS or looking for appreciation in the long run

Post: How far out do you keep your calendar open?

Post: I host over 100 AirBnB Listings in CA and AZ Ask Me Anything

Post: Starting Out in Real Estate as a Younger Individual

Post: Any advice on a day job while starting in real estate investing?

Post: One thing I learned from running Airbnb

Post: One thing I learned from running Airbnb