We all get busy completing tasks, taking new assignments, closing out old ones....... Day in and day out, working toward the next commission check we sometimes focus so much on the short term we lose sight of the long term.
It has been apx 6 years since we sold our last investment property and we are ready to jump back in. Going to focus on some long term rentals as well as some short term rehabs with a partner.
What are you doing as a real esate pro to set you up for life?
Mike Johnson
Marathon Real Estate
Replies
I have partnered with a very strong, technology driven Brokerage, by investing into the company & starting my own branch in Tampa. I have begun a BPO Department which retains about a 35% profitability on a month-to-month basis, while completing approx. 300 BPO's per month and generating over $10k in gross revenues for the Dept. I have continued to grow my REO Listings by increasing my efficacy, growing my relationships, and doing a great job for the Client(s). I have leveraged those REO Listings to generate a great Buyer Lead System, which we are in the final stages of launching our own CRM for. The CRM will be something that creates residual income, as well, as a value/benefit added to our Retail Agents who join our Brokerage Firm as a part of their technology fees. We have also created a retirement & benefits package for our Agents, to further fund their "long term" wealth needs.
I'm not personally making investments in the RE Market, as I feel that it may become a conflict of interest at some point w/me wanting to purchase inventory that may be owned by a Client in which I service their REO/BPO needs (even if I'm not the listing agent). I am, however, looking at funding a Portfolio, in which I could retain a portion of the profits from the Portfolio - as they buy, fix, flip and/or buy, fix, rent.