I got mine as a way to learn more and have access to the mls directly, but as I've gotten more into learning the process I have begun to make it a bigger part of the plan. My work as an agent is what will be directly funding my purchases. That will give me more motivation to continue learning and changing with the market. As investment deals become harder to find I will focus more on residential or study for CCIM. I spent years reading about how RE investing works with the Gary Keller books, Rich dad and many other books, as well as listening to the BP podcasts. It's certainly not necessary to get your license to be an investor but it is good to know an agent.
Jay
I got mine as a way to learn more and have access to the mls directly, but as I've gotten more into learning the process I have begun to make it a bigger part of the plan. My work as an agent is what will be directly funding my purchases. That will give me more motivation to continue learning and changing with the market. As investment deals become harder to find I will focus more on residential or study for CCIM. I spent years reading about how RE investing works with the Gary Keller books, Rich dad and many other books, as well as listening to the BP podcasts. It's certainly not necessary to get your license to be an investor but it is good to know an agent.
Jay
@Joseph Fernandez you do not need a license but as mentioned earlier it will make life in this business a lot easier if you at least have a good relationship with a realtor. I am an active investor in Florida and Tennessee and do not have my license.
No! There are definite benefits to have one though and if you ever wish to not operate as an agent you can put it into "voluntary inactive" status. Rather than ask IF you must have one, ask yourself WHY NOT have one? Thoughts?
@Joseph Fernandez, however, if you're thinking about WHOLESALING properties that you don't own, then that would be the subject for a different thread, because wholesaling is NOT investing! (But, please don't ask that question. Look up the 100's of previous threads about that)...
Yes maintaining a license costs money. However, you can offset those expenses by listing or selling properties for others. One small listing a year would more than cover any expenses (in my market). As far as continuing education, I am a junkie. If I had my way I would be in classes almost every day. Real estate and related facets are interesting (at least to me). I devote my time mostly to investing, doing private loans, taking care of my rentals, and education. These, to me, are FREEDOM from the 9-5 grind. We both know that owning real estate can give any of us the freedom to choose our hobbies, our lifestyles, and most important, allow us FREEDOM! My wife worries about our rentals. I tell her if I kick off early, she can find a competent PM company and live off the income forever. The upside to getting a license is the education. Once you have a good basic understanding you can choose to activate your license or not. I always feel like you can't know too much and interacting with other investors, agents, taking classes, etc is a benefit. Licensing may not be for everyone! Last but not least, agents are held to higher standards. There is a right way and wrong way to run any business including investing in RE!
Definitely not required. Will add disclosure requirements and potential fiduciary responsibilities to buying for yourself. Your broker may make you split 'commissions' on your purchases as well.
Here the MLS is worthless to find deals. Will it help in your market?
Side note - a lot of complete rookie thread title questions are posed by agents. There are some competent ones like have shared above - but I am often amazed. I took the sales agent classes and it didn't teach much if anything about actual investing.
Correct! However, if you don't have an active license you are not required to disclose. There are both benefits as well as detractors to having a license.