My DH and I are looking into buying 4-5 rental properties over the next five years. We have the down payment for the first one and have started looking to purchase. We are working with the real estate agent who sold us our home. I am considering getting my real estate license so that we can do it ourselves and save the commission fee. We are in Florida. Is it common to do this? Do I need a broker - is it common for brokers to work with people who are just buying homes for themselves? How would I find this broker?
Thank you for your help. Any information is appreciated.
@Ashley B. - In IL is costs me about $1500 - $2000 a year to maintain my license after fees, insurance, MLS, ect. So if you think your commission will be more than that then go for it!
Looks like you can be a sales associate, so your license would be under a broker. Expect them to take about 30% of your commission when figuring out the calculations
@Brianna - Is it common for a broker to take on someone like me?
I'm intersted in seeing responses to this question also, because I'm told constantly to get my license, not for saving commissions, but for MLS access and writing my own deals. (I'm not quite sure, but they all say get your license ASAP)
To make the @ work, do the following:
Hold down the shift key and type @?
Look below this Window, and you will see a list of names of people that have posted in this thread.
Click on the name of the person that you want notified via an email, that you responded to them.
If you are a Colleague with anyone that has NOT posted in the thread, and you want them to see your post, hold down the shift key, type the @ and the first 4 letters of their First or Last Name.
Then look below this Window and click on that person's name.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing