Have you ever thought you wanted to have another source of income, you certainly could have. Many people think we only work in areas where the price of homes is very low or in very poor neighborhoods. The photo above is an FHA 203k project we did a few years ago, as you can see some of these homes are in pretty nice areas. This one was in Fair Oaks, CA and the buyer was all over the 203k loan as it fit his needs most readily.
Advantages to a contractor becoming a consultant include that you get to look at a property before most and you get to be paid to prepare a bid.
Advantages to a Realtor is you get some cash up front while you wait for your commission on the sale. You also get to control the inspection.
Conflicts of interest, well yea. Of course but you can make them go away by having another consultant take it off your hands before you have to make your disclosures so you kill the conflict before it is an issue.
We had a Realtor do their own house and I chose to go over the conflict of intest form up front so he was totally in the Know. Then we discussed that since it is a conflict of interest for him to be the Realtor on the tranaction and the buyer he chose to have another party in his office become the Realtor on this transaction and agree to take a much reduced commission. Disclose it fully and you no longer have an issue.