SO YOU'RE A REALTOR?
I know I give Realtors a hard time. It’s just that I see so many bad ones. Like all professions, doctors, lawyers, sheet rockers, and carpet layers, there is always the top 10%…and then there’s the rest of them.
I’ve had real estate agents tell me, straight up, that owner financing is against the law.
This always amazes me. I say to them,
“So, you’re an attorney too? I mean, if you’re going to give me legal advice you damn sure better be a licensed attorney -correct?”
That being said, make no mistake, I know many Realtors/brokers that are very successful real estate investors. In fact, it’s the perfect “multiple streams of income” situation if your mind is broad enough to deal in both worlds. Can’t buy it? List it! It’s actually perfect!
Honestly, I’ll never understand a real estate agent or broker that does not buy the real estate gold mines they stumble upon and then offer up to others for a one time fee. It make no since whatsoever! It just says to me that most agents/brokers have a very limit understanding of the actual real estate; they know the paperwork and the process of transferring ownership, but they DO NOT understand the actual power or income potential of owning or controlling real estate.
The funny part is, you DO NOT need to be licensed to sell other people’s real estate…if you get an OPTION.
A correctly written option agreement can give a person all the rights of a Realtor plus more. An investors OPTION is the real estate agent’s LISTING agreement. However, with an option you’re not limited to making only 6% (or less)
…and with an option you don’t have to answer to and/or pay for an association or board.