My goal is to buy and flip houses, but I have decided to start off with getting my real estate license in California. I have decided to go with Allied Real Estate School. There are two required courses: Principles and Practice. The third course is a choice:
Legal Aspects of Real Estate
Real Estate Finance
Property Management,
Real Estate Appraisal,
Real Estate Economics,
Real Estate Office Administration, or
Escrows.
I have read in a few places that it is recommended to take either the Legal Aspects of Real Estate or Real Estate Finance. However, since my ultimate goal is to buy and flip houses, I was thinking the Real Estate Appraisal would be better.
I would love to hear what others think. Thank for you time.
Real Estate Investor · CA, CA · Member since 2014 · 58 posts · 19 votes
11y
I've taken most of those courses for the broker's license, except office administration (whatever the heck that is, sounds pretty lame). Law is the most useful imo. Everything else you can pick up once you start doing it. The finance course isn't going to help you flip houses in the least. Appraisal would help only to the extent you need to learn how to estimate value using the comparison method (comps). Learning how to comp a house is one of the most important, if not the most important skill of all when it comes to flipping and you don't need a course for that. You do need a course but not one you will find in any academic book.
Do the legal course and read the comparison method in the appraisal course material.
San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
11y
I studied law with the intention of getting a JD, but became disabled. I did attain a Bachelors in Law, and many years ago got my real estate agent license in WA.
But no education has served me better than learning law - especially contracts and how to look up laws. If you know the law, it will not only save you a bunch of money on lawyers, but nobody can bluff or BS you. This is priceless.
Real Estate Investor · CA, CA · Member since 2014 · 58 posts · 19 votes
11y
I've taken most of those courses for the broker's license, except office administration (whatever the heck that is, sounds pretty lame). Law is the most useful imo. Everything else you can pick up once you start doing it. The finance course isn't going to help you flip houses in the least. Appraisal would help only to the extent you need to learn how to estimate value using the comparison method (comps). Learning how to comp a house is one of the most important, if not the most important skill of all when it comes to flipping and you don't need a course for that. You do need a course but not one you will find in any academic book.
Do the legal course and read the comparison method in the appraisal course material.
Thank you @Sue Kelly, @James Park, and @Ron Plata.
Legal Aspects of Real Estate it is!
@Ron Plata, I really appreciated the advice you gave in relation to house flipping. Very helpful to know that everything else can be picked up as I go.
Wholesaler · Salt Lake City, UT · Member since 2009 · 1k+ posts · 401 votes
11y
Let's make it 100%, I vote for the legal course as well. I started off my college career with the intent of becoming a lawyer. That changed when I met and married the girl I would spend the rest of my life with during my second year if college. I still stay interested in the law and it helped even more so when I became a broker. There are too many bad lawyers out there and your first line of defense is to be familiar with the law. I became licensed in 1965, had multiple offices and never carried E&O insurance, never needed it.
Rental Property Investor · San Diego, CA · Member since 2011 · 1k+ posts · 1k+ votes
11y
Question, I'm taking the same course. I was told you could use college electives towards that should you have taken courses that were of a business focus such as accounting. Is that true or am I wrong?
I believe you are correct. When I was speaking to Allied, their customer service rep asked me if I had taken any economics or accounting classes in college. He said they could possibly take the place of the of one of the accounting or finance classes, which means you would only have to take 2 (Principles and Practice) of the 3 classes with Allied to qualify to take the RE exam. Unfortunately, I didn't take any of those classes in college.
However, looking at the whole situation, having a good handle on the law seems invaluable. I think I would take it even if I wasn't required.