I’m interested in the turnkey company that you spoke about. i’m so excited to get my license soon, thank you very much for taking your times writing this article.
REO properties have been foreclosed on and they have gone back to the bank. Agents can make a very lucrative living if they work with the right banks. It can take years to build up your business and the supply is determined by how many homes are foreclosed on. REO agents are not allowed to buy their own listings, as it is a conflict of interest. Commercial real estate requires much more experience and knowledge than residential.
You forgot to mention that you need to give some money to your broker or you need to be a broker to get all 3% of the commission. Mark Ferguson is the author and creator of InvestFourMore. Mark has flipped over 175 homes including 26 in 2017 and 26 in 2018.
It is difficult to break into commercial unless you start with a commercial firm that can mentor you. Experienced and successful commercial agents can easily make hundreds of thousands of dollars per year. Retail sales involve listing houses for private sellers and selling homes to buyers.
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Mark also owns 20 rentals including a 68, 000 square foot commercial strip mall. Mark started Blue Steel Real Estate, a real estate brokerage in 2018. He has also published 7 books in paperback, Kindle, and audiobook form that you can find on Amazon. Short sales homes are listed by private sellers who are selling the home for less than they owe the bank. There is a huge market for short sales and many agents make a great living specializing in this field. It takes a lot of patience and diligence to close a short sale since the banks have many requirements and they can take months to approve a short sale.