Behind The Shine | 3/4/2022

    Behind The Shine 3/4/2022

    A couple of weeks ago, I shared my reaction to Patrick Bet-David’s video about your relationship with your real estate agent. He made some great points in the video but there were a few things I had to challenge based on my experience as a real estate agent.

    I wanted to share my take on:

    • client-realtor and realtor-realtor relationships
    • debunking that agents want you to pay more to bump up their commission
    • bringing value spectrum
    • and more!

    I’d love to know if you had a similar reaction or a different take. Leave me a comment on the video so I know where you stand. Check it out here!

    Last week, I shared my first step when analyzing a potential deal by starting with a broad location, like an entire state, my second step of narrowing down a specific city, and third step of choosing an asset class. Today, I’m sharing my fourth step which is analyzing the management.

    Probably the most important factor is getting the deal BUT the second most import factor is maintaining it once you have it. As you begin to scale this becomes even more crucial with weighing the deal against what it will take to manage that property.

    One of the biggest things I consider is my Core Four and WHO will be the key players with initially finding the deal and making it a successful one:

    • property manager
    • lender
    • contractor
    • agent or deal finder

    Once I’m confident with my overall management strategy, I’m able to continue analyzing the deal.

    Next week, I’ll share my next step once I’ve found my broad area, particular city, asset class, and analyzing management.

    I’m reaching out again to ask for your help! Our mortgage team, The One Brokerage, is quickly growing and we’re looking for a few dedicated team players who can help our clients with all of their lending needs!

    Financing is one of the most important factors in making a deal happen so if you think you may be a good fit keep reading for the positions we have open.

    1. Processor– This will be a dedicated, in house, mortgage loan processor or loan officer assistant (LOA). Training will be provided, but industry experience prior to application helps. Job duties include assisting the senior loan officer in organizing files, pre-approving potential buyers, reviewing financial documentation, and requesting documentation from borrowers. This is great training for someone who wants to eventually grow into a loan officer, but a new hire should be prepared to be processing for a year at minimum before a promotion to Lo is expected.
    2. Experienced Loan Officer- This position is for our independent team. Direct leads will not be provided but there will be future options to ‘buy in’ to company sponsored leads. We offer in-house dedicated processing to allow an experienced LO to spend more time prospecting new borrowers and less time collecting documentation. Competitive splits, in house processing, training, and the name recognition that comes with working with us are our biggest advantages over other brokers!
    3. Inside Sales Agent- This position is the equivalent to a concierge/hostess service. Someone who takes pride in great customer service would be a great fit! This person would be managing our inbound calls and website requests to work with us. They will establish contact with a new potential client, run through a script of questions to get the baseline of information from the borrower, and ensure a good experience with a real person on the phone. They will also most likely be managing our website ‘chat’ feature where they will be doing the same thing. Our ISA will also be responsible for delivering this information via our CRM to the loan officer assigned to the file, to guarantee the LO is up to speed on the borrowers situation before scheduling a phone call.

    Apply here if you’re a rockstar looking to join a rockstar team!

    This week I had the honor of being featured in the article 6 Financial Pros Share How They Would Invest $100,000. I lay out my recommendations for investing right now!

    In this sneak peak I share:

    • where to buy real estate
    • strategies I recommend for investing right now
    • playing the long game

    Be sure to check out the full article with diverse opinions from the other investors and financial pros.

    My heart goes out to everyone who’s been affected by the Russia-Ukraine conflict. I’m so fortunate the biggest impact it’s had on me so far is a flood of people looking to me for guidance on how it could affect the housing market. I don’t have a crystal ball and it’s still early on, but I share my thoughts here. I’ll be sure to update you on this issue with a more in-depth video soon!

    If you haven’t listened to BiggerPockets Episode 573, “Is Financial Freedom A Curse For Real Estate Investors?”, I highly recommend you check it out! I wanted to highlight one of the points around financial freedom we discussed. With the topic of financial freedom, I often hear from people who say they want their time back and the ability to quit their job.

    In this episode, I challenged one of our guests to lean into and embrace her talent rather than working toward the goal of trying to reach financial freedom to be able to move away from her current jobs. Instead of trying to push ahead with everything she is currently doing, identify her highest areas of talent (the areas she truly enjoys and feel light to her) THEN plan goals around how to only focus using that talent in her work while of course still setting herself up for a smart financial future.

    I loved this discussion because rather than looking toward financial freedom as a way to eventually escape your current reality, set your current reality up so you love it so much you don’t need to escape. I could go on and on about this topic but I’ll let you listen to the full discussion here.

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