For a brand new agent, it’s valuable education getting training, learning all the necessary tools to legally represent a client the sale or purchase of their home or commercial building. 

Now you can educate more / optimize. 

Educating yourself is of the utmost importance! 

This post will hopefully educate the biggerpockets community on this issue and I hope it was helpful.

It's interesting that many of these VC-backed PMC's, despite having 10k+ properties under management, aren't doing well financially - one of them just merged with another industry-related company also not doing well.Just for fun, here's a partial list of PMC expenses that owners pretend don't exist:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why something is taking so long, and more & more & more...OBSERVATION: many owners only want to pay a flat fee or 50% of a month of rent as a leasing fee - without realizing the repercussions. 

Paying for education is vital, mentorship can go both ways, only you know if you will take action.

Bonneville CountyAverage Purchase Price: $380,000Average Rental Price (3-bed home): $1,700/monthKey Highlights:Home to Idaho Falls, a regional economic hub.Diverse economy with strong healthcare, education, and energy sectors.Steady population growth and increasing rental demand.5.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

@Britney RossI’ve been in the RE business for over four decades now.Most of that time spent in the single family brokerage and investing world.Several years ago, I made the decision to transition from SFR to multifamily.Despite decades in the industry I felt the need to educate myself about MF.I paid for an intense 2 week education program and then a 3 month mentorship.Trust me, it was worth it.During the mentorship, I acquired a 43 unit property with the help of my mentor.Fast forward 4 years later, I am in a General Partner in 1000 units worth $130M.So for me, it was money well spent.You didn’t mention where type of investing you wanted to do.If it’s MF, you are going to need partners and help.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!