Making Money Through Rentals - STEP BY STEP PROCESS
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- Опубликовано: 5 сен 2024
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Chastin J. Miles is a licensed TX real estate agent with eXp Realty
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#realestate #realtor #realestateagent #realestateinvestor #realestateinvesting #realtorlife #realestatesales #business #businessowner #salestips #sales
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Brokers discouraging new agents from doing this is a huge detriment to a new agent low on funds and experience. It’s part of the reason why there is such a huge failure rate for new agents in this industry.
I noticed that during interviews with brokerages and never understood it. I just started working for eXp and my broker had no problem sending me all of the documents I would need to do rentals and I didn’t even ask.
@@khalifiajackson7281 Does Exp also send documents and help you with investing or wholesaleing?
I do some rentals, it's pretty easy and later on they may convert into buyers, easiest money you can get next to referrals and BPO money...
What is the process of doing rentals am a new agent and I don’t know what is the process of your client renting
Working in property management made me realize how easy leases are. I can see why brokerages discourage it because the money isn’t as “good “ upfront. It’s a gold mine of opportunity
Yep!
I loved this because I've licensed since 2001 and when the market crashed around 2006/7 I jumped into survival mode and started approaching investors to rent out their single family homes and I've been hooked to it every since. I also obtained a license in Florida and started out doing apartment locator work and that paid well too. Broke agents use to ask me why I waste my time doing rentals and I'm a licensed agent,,,.lol lol. Yep, licensed and paid, not licensed and broke hoping I sell a house. It's the best entity since sliced bread. Those with the big head of I have a real estate license, think it's normal leasing agent sitting in an office salary and it's not from our side because we aren't paid as low as a in office real estate agent. I could go on, but had to say great video especially for new agents who may get discouraged listening to older agents or broke agents who think they know it all. This industry is the place to be and you're forever learning or you're behind. Blessings fellow agent.
Thank you for sharing, I appreciate this! Blessings to you and your family as well.
Do you need a real estate license..to do apartment locator?
New real estate agent here, any tips for me to gather leads and get rental listings ? Also, do I just repost rentals from the MLS that are any broker advertisement ?
@@RsBahamasBoy1 HEY bUDD How you doing i just started and started doing the same.. how is it going wanna connect ?
Thank you so much I was scared about getting into real estate because of the money coming in at first, you really made me feel like it’s all possible! Thank you for making this video and KUDOS!!
Thanks for watching! You got this!!
Update?
I want buy my wife a 20000 camper with bad credit
RUclips recommended one of your videos and I fell down the rabbit hole, so many good tips and personal experience stories. You should have more followers!
I know!!! I don't know what the deal is.
What I love is you’re literally sharing this info for free. Real estate agents love to help! That’s the point of getting into it. There’s plenty of money for everyone
I HAVE LITERALLY BEEN SAYING THIS ! like what am i missing ?! i’ve been doing literally everything to acquire clients but nothing has been moving ! this saved my life
This is incredible, thank you!! I am currently taking my NJ class, and am definitely going to start with rentals. All of your videos are so motivating - you’re killing it! Thank you for the info :)
Hi Chastin,
This is very informative and impressive. I am a new owner of rental properties and planning to be a full time real estate investor. Your videos are so encouraging
I appreciate it!
Chastin am already a leasing consultant and mid-way in my RE class. I decided long time ago to go with this idea from one of your previous video. I am so thankful for your honesty and help! It's enough money for all of us. So many people down sizing and rental property is sky high. Perfect timing I see it every day. I can't wait to get started working for myself. Thanks for keeping it 💯❕❕Your the best💖💝😘
This is better than the training I am getting from my team
Thanks for watching, glad I can help.
I work in leasing now and recently have met 3 realtors that have come with prospects.... that’s all the motivation I needed. I’m studying for my GA RE license now!
I see you Tamica, pass that test! I got licensed last year, but will transition to leases first. Let me know if you need help with studying
Chastin thank you for opening my eyes to this side of the Real estate business!👍 I'm going to look further into it!
New subscriber, definitely soon to be realtor..."Are you kidding me???" What a wealth of information! I'm in the Dallas area (originally from South Dallas so I appreciated your video about being broke). We need to link up hopefully soon (respectfully understanding your tedious schedule), I'm all about empowerment and empowering others and appreciate what you do that much more. Thanks for the inspiration and much needed motivation my brother, this video was/is truly priceless!
Thanks so much for watching! If you're in Dallas, I'm sure we'll cross paths.
Oh my gosh my broker just told me word for words “ there is no money in leases.” I want to do this tho. I love helping people and I know it’s about relationships. Thank you for this. On the other hand in OKlahoma it is a very very small commission. But still I want to do it.
I'm going fulltime in Sept. Adding the rental side to my "took belt" should help me alot ... thank you for the rental course!!
I was googling phrases regarding "leasing apartments as a real estate agent", "how to rent apartments....etc. nonetheless I came across your page, what a pleasant video. This was a very informative video making excellent points around being a leasing agent. I did have one question, how would you initiate an apartment landlord in an effort to executing a lease agreement? I did locate information as to the document you would provide the landlord, a 'letter of intent" which is basically a lease agreement drafted by the real estate agent with the standard lease agreement verbiage, i.e. monthly rent rate, terms, length of lease etc. There's a new apartment complex being built in a near a new subdivision, shopping centers, restaurants etc., what I want to do is work with the developer to provide tenants to rent their apartments. I'd like to get a marketing kit, etc. Does this seem like a good way forward? Thanks for any feedback
Kind regards,
As i scroll through my feed i see nothing worth watching until i saw your VIDEO! Thank you so much for this knowledge, but i do have a question. Im assuming that while you are under a broker is when you’re able to work with rentals, etc. How does one go about doing so, do you have to notify the broker that you are hitting rentals and do they cut a portion of the commission?
Will a big brokerage accept a recent graduated agent to work just on leases for a while? should that agent tell them that’s their intention if joining them?
Thank you for your videos. I am a retired nurse who just got my agent's license. I live in California and I think I want to be a Leasing agent assistant until I learn. Or Builders agent for new homes. I would love to work from home, but those jobs in real estate are had the find.
NOW I KNOW,WHY YOURE SO SMART AND PROFESSIONAL,YU DESERVES IT WHAT YOU HAVE ..... KEEP POSTING AND TEACHING MY.....
Thank you
Money is money. Thanks for the vid
Been watching your videos for awhile now, just got my real estate license and been calling FSBO but I will add this to my business also as in ways to make money now! Thanks brother! 💪🏾🔥
How’s it going 3 months in?
Hey Chastin! Armando here from HTX; just got my RE license, I’m w JLA realty; going to look into the leasing game to make the quick paychecks; I find your videos so informing & educational; I don’t know much about RE except from the Champions school; I’m coming from the healthcare industry; looking forward to learning more from your channel, Cheers!
Can someone explain to me why someone would use a real estate agent to find an apartment? Also how does the agent add value to someone looking to least ?
P Xu some people don’t have the time to look, or are moving from out of town and would like help.
Thank you for this!!! I got my license this month! And just signed with eXp!!!
Nice! Welcome aboard!
@@ChastinJMiles thank youuu!! ☺️
Do you work for EXP? If so, how does the commission split for a rental work with EXP? The same as for homes? 80/20 until $16K? This is definitely something that I'm interested in adding to my business plan?
Wow Chastin, thank you sooo much for all of your incredibly helpful information. I’m saving up right now to take an online class to be an agent in Dallas! I’m so excited to get started!
BUU how did it go for you?
Love this ! Thank you ! It’s so hard to find information on the subject.
I do appreciate your honesty, good or bad!
I appreciate that!
You have really broadened Real Estate Business for all, thank you so much 👏🇿🇼
Hey Chastin!!! I’m almost done with my online RE classes!!! Can you do a video on the licensing process, background checks etc.??!!!
I'll need to do a little research. It may be different from different states.
Optimistic and Straight to the Point - Love it and Thank you so much! New subbie...
I got called by a real estate firm that are hiring listing agents and providing me with the tools I can’t wait
How did you find that data ? On how much you can make on referral commissions
smartapartmentdata.com/
Thanks Chastin! Great information!
Thanks!
Where do you find the rentals other than the MLS? Do I have to ask each property owner/community if they will offer me a commission if I don’t see it stated?
There's a platform called Smart Apartment Data that has good info
Your videos are always so helpful.
I am so glad you posted this video. I've been looking for this information. I'm going to be at real estate agent in Florida I currently live in Ohio and rentals are huge down there and I wanted to make some income before I even moved I'm hoping this is possible seems like it is
Didn’t even think of these options! Great way to get started, Golden nuggets
Thanks for watching!
Thank You Chastin I am so interested in this you were awesome please do more videos I want to learn from you
I'll keep uploading them
So how do you l see if an apartment actually offers a commission? Looks like the links provided in the bio don't work -- the rental boss course ones. Is there another one?
Thank you for this. Majority jump into projects when they start. I find it a bit challenging. Cant wait to do rental first :-)
Question? How do the apartments or home leases agree to pay you or do the renters pay you ?
You or your brokerage will invoice them and they cut you a check. If the landlord or the community doesn't pay then your client can.
what is the easistest way to find leases that offer commison to real estate agents, i am struggling with that
Try costar
@@ChastinJMiles if i buy the rental boss course does it cover facebook ads?
Someone reached out to me this morning regarding leasing a house and i'm like yes, absolutely. But then i'm like wait what am I supposed to do. lol So here I am, learning.
You got this!
Hi Chastin, Liked and Subbed for more of that great real estate content. I love the content quality! Can't wait to see more!
Great video . I really enjoyed this . I’m getting into real estate very soon, so I’m trying to learn abs gather as much info I can
Shiii.. im a full time student, and currently going through a course, hopefully everything works out.
It will if you work at it. It's going to require hustle.
Would've been cool if you can do a video of you filling out the leasing agreement step-by-step.
But it's different for every state.
I'm a new subbie and I'm sooo glad I found you !!! Your videos have been really helpful&inspiring I take my test Saturday 🙂 ! Quick question do you have a license/practice in any other states?
No I don't but I have a referral network that I can get a deal done in any state.
God loves you and God bless you. God has allowed me to watch these videos to really start helping a lot of people
Thank you! Let me know if I can help in any way
Thank you so much for this! Really good tips!
Hey Chastin thank you very much for this informative video, it was truly eye opening for me. I was curious as to what software do you use to find the companies in your area that offer referral commission to realtors?
Terrific video! What city are you in, I would love to make a collab video with you about leasing the next time I am there! - Matt Easton
Dallas
Do you have any information about pre-qualifying? I tend to find that living in NYC there are a lot of inquiries for apartments people can't even afford...
I’m running into most properties in Orlando not paying locators. 🥺
Maybe try to focus on single family home rentals.
Chastin J. Miles thank you
Thank you so much for all the great information
When a person comes to you looking for you to find them a home to rent, do you go over terms and conditions also payment? Or does the landlord pay?
I’m working to become listing agent to start off
This looks like an interesting strategy! Thank you 💪
No problem!
Thank you for this information! 🙏🏽 what system are you using to view the commission for the Rentals?
Smart Apartment Data
@@ChastinJMiles thank you! 😊 I appreciate that 🙏🏽
Do you use the same broker/buyer agreement for representation? (When looking for multifamily leases)
Thank you❤
You're welcome 😊
Update on this 2 years later? Lol that would be cool. still a very informative video I understand the process now
Thanks for watching, glad I can help.
The real state Goat 🔥.
Thanks 🙏
My broker does not do rentals, but I like yo do it, 5 months working very hard and no sales.
I have a question do you have to show the rental property to your rental new client?
Hey Chastin, do you have a contract that you could share? The one you would make a prospective tenant sign that goes over all the terms and conditions plus remunerations? Or where can I find one?
I just use the Buyer/Tenant representation agreement. It’s a promulgated form by the Texas Real Estate Commission.
What system do you use to show you how much commission the apartments pay? 6:56 in the video?
Smart Apartment Data
Thanks, so much for Sharing this the information
Glad it was helpful!
Great video... that is the route I want to take
THANKKKS A LOT VERY HELPFUL ,,,,,Is leasing agent , same as rental agent ?
Are we stepping on these complex’s leasing agents toes by doing this? I’ve been looking at available rentals in the MLS but I’m somewhat nervous to do this method.
Also, when it comes to rentals, are we able to just advertise as we please or do we need to do the same steps as with a for sale listing and have permission and all that compliance jazz?
What brokerage were you with when you made this video?
Hey this is a great video. How would you recommend going and finding these apartments that are willing to give a referral commission? Do you go on your local MLS? I’m currently studying for my license in NY
How do you know which apartments will pay brokers for bringing a client to rent?
We have a few systems that provide us with that information.
@@ChastinJMiles what systems?
Wow 🤩 this is eye opening thank you 😊
You’re welcome 😊
Do you recommend clients sign an agency agreement form just like as if they were home buyers ?
Absolutely!
Is smart apartment data free?
Great content Chastin, I recently joined eXp last about a week ago. I wanted to ask, Are listing agreements for leases on the MLS already include buyers compensation? Or should you always contact the listing agent/complex if they are wiling to pay a commission? Looking forward to your response thanks
You will be wsiting a few decades for a response my friend, wish you luci
@@jklclips4041 I did my due diligence lol, Usually always on the MLS, but should always confirm. 😂👍
What system are you finding the commission?
Do clients need to get pre-approved from a lender for renting like what they do when buying a house? How’s the financial process like for clients who are renting?
Typically people don't take out loans to pay rent. Landlords may run a soft credit check to make sure your client doesn't have a history of skipping their rent, but otherwise, lenders aren't usually involved with rentals.
@@sigourneyyoung8793 Thank you for answering my question! Very helpful🙏🏻
Do you have to work at an apartment locator specific brokerage? I ask because I don’t think an exp would have payment agreements setup with a traditional brokerage.
Do you necessarily need a real estate license to give a apartment complex referrals?
to get paid off of it, you do unless you're a resident or registered vendor with them.
Where do I find the rentals that compensate the realtor?
smartapartmentdata.com
Good afternoon Sir. Working on my RE license now. I have absolutely no interest in selling but rather Property Management. How would one go about pursuing this path? Local brokers seem to be more focused on new agents. Thanks
You'll want to find a brokerage that specifically does property management. A lot of the residential brokerages don't really fool with it too much.
Great info!! Thank you!!
Glad it was helpful!
Hey love your videos. What would do when a client needs immediate move in? And you know associations are stickers and take weeks
Work with another agent who can broker the deal for you.
Thank you!
Can you get the listings of rentals from MLS ?
🙌 As always Chastin great content and ideas! The greatest value to me is the correct path to working as a #SmartAgent#WorkSmarterNotHarder
Thank-you, thank-you & thank-you again 😊
#BuildingALifeWorthLiving
#Realtor#LivingTheDream
I appreciate you!!!
Thxns!
Do all real estate firms allow you to get commissions off of lease referrals? And is it like a 50/50 split with your firm?
Has anyone purchased the course from Chastin any reviews
Hey Chastin do you have any information on what to do if a homeowner wants you to list their home for rent for them?
Yes. It's the same as listing it for sale basically. There most times is a different listing document involved though.
Hi i just do my license in nyc and here people - who i know - always looki meg for rentals. My question is when u join to a brokerage they help you find landlords or they have some databese what you can recommend clients or you need to find your own? I know many people who would rent but not too much people who actually own places. Thank you very much!
Typically it will be up to you to find landlords and tenants.
Mr. Miles,
I’m really interested in your rental boss course. I’ve been licensed agent for two years now with only one sale🤷🏽♀️. I have a full time job and I’m a student so I keep my license on active status just in case I luck up on a client. The problem is, I pay $80 a month for my broker to hold my license and I’ve been told to not fool with leases by this brokerage, but I need to make some $$ and I do love your videos!!. Do I actually need a broker to continue holding my license if I become a leading agent...I’m tired of the fees and I know they’ll take a big cute of my rental commission if I decided to move forward ??? What should I do??
Yes unfortunately. You'll have to keep your license under a broker :(
I was struggle when I first start in real estate when I first start in 2002 over 6 months and no one helping and showing me how to make money. I have to put flyers at stores and getting lead and take me almost 2 years to get to the top of that biggest brick and mortal company in the midsouth. Now as a virtual online office I am thrilled to see my new agent closed 6 deals in less than 6 months. Thank to technology. Reach out to me if there anything I could help you to get some deals close let me know
Hi i got a question im in nyc, im renting an apartment for a Landlord but he wont sign the paper work with me but he allowed me to rent it, so now i got a client shes interested, but i have no idea what questions im suppose to ask her, how can i guarantee that she will pay me a commission so that i can set an appointment for her to see the apartment. Thanks if you can help me and let me know what questions is mandatory to ask a rental client and how i can make sure she knows that she is suppose to pay me a broker fee.
I never take anyone's "word" for it. If there's nothing signed, then there's no guarantee.
@@ChastinJMiles I got a question what document do I make my tenant sign before I show them a apartment?
@@Lightning-bv2vv A tenant representation agreement
@@ChastinJMiles ok i never in my life seen one, ill research on it. Btw can you make a video on step on step how to deal with tenants, what to make them signs, and documents are required from them when u find them a rental apartment, It will help alot like my self who are confused.If not its ok, but i really appreciate your response it helped me alot. Hopefully i can make some money this month.