Getting my License as my first step into the business

[Account Closed]

Hi Guys, I live in Roselle Nj. I've saved some capital but nowhere near where I need to be yet. I want to work more closely in the RE market to network and have a better understanding of different concepts and intangibles in the market. I decided that I will be going for my RE license and working as an agent part time to familiarize myself with the buying and selling process while also making some cash to save to one day invest in multi-family. This can also be a way to give myself more credibility if I need to raise funds from investors for my investment. What do you think? Is this a good step? Anyone from New Jersey or anywhere else have done the same. How has this helped you and how has it been challenging ?

[Michael Lucero]

Having your RE license doesn't do much to legitimize yourself in the real estate investor world and definitely doesn't  teach you how to be an investor. Further, in some peoples eyes it can be a detractor because they assume a certain mindset with agents, which is to sell houses at market value to people based mostly on emotions rather than financial metrics. Also, It's quite expensive and doesn't teach you much that will help you invest. I thought of doing the same thing but realized it would not be an efficient use of time and money resources. You might be better served by reading a lot and joining local RE investor groups and also trying to do smaller deals or wholesaling to get your feet wet.