Hello fellow entrepreneurs!
I am considering getting my realtor license as an entry point in my investment journey mainly to gain a broader understanding of how all the pieces fit. Is this something that would be worthwhile if my intention is not to be a sales agent but instead an investor?
Also, can good money be made on the side as a sales agent if I already have a full time job? If so, it may be worth it just to have some additional cash to invest.
I have a full time job and got my RE license this past October. I definitely would recommend it. Join a 100% commission firm. Good Luck!
You don't really need a real estate license to start your journey. If you have cash in hand, good line of credit, good/great relationship with some key professionals (contractors, attorneys, handyman, re agents...) you can definitely move forward smoothly. But I would not discourage you to get it if you decide to...it can be very helpful as you will have access to the MLS, be allowed to bid on REOs, HUD homes, save on commissions.... You will also have access to lots of valuable resources when you join a board, work with a broker and so forth.
I am a realtor and yes there is definitely good money that can be made as an agent (I started part time - it's good to keep your primary job at first) and once you become a realtor you will always be looking for these investment opportunities. It will just become second nature. Also depending on certain factors the road can be bumpy at times but beside that real estate investing is beyond awesome. Make sure you educate yourself as much as you can...books, journals, articles, seminars, webminars.... :)
I am also interested in becoming a realtor party time (then eventually full time if it goes well). I know it varies from state to state, but would you happen to know the basic steps in getting a license? Any recommendations on where/how to take the required classes?
Thanks @Michael Barbari and @Claire Etienne ! It sounds like something I could definitely benefit from seeing as I need to build capital and I have a whole lot to learn. Having those resources available to me early would likely be well worth the price. I appreciate the guidance!
@Bradley Heath , if you have the availability, attend a class in your area. The realtors I have spoken to agree that there is a benefit to the classroom setting as opposed to the online courses. They are usually about $300 and there are enough schedules to choose from so they can accommodate most people. Once you complete the course you will be able to take the exam. Good luck!
@Andrew Bondarchuk , is there a website where you can find the physical classes? or does it depend on area?
@Bradley Heath , I would just do a Google search for Real Estate classes in Maryville, TN. These classes are everywhere - I'm sure there are some close to you. If location is an issue, look for online classes. My wife and I are doing the online classes simply because our work schedules and our daughter (2 years old) do not give us much flexibility. With the online classes we can complete the course at our leisure.
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