Hello Everyone. I'm in the process of getting my second income property. I have been thinking about getting my Real Estate license to get access to the MLS and maybe sell a few houses to pay for all fees involved in being an agent. Do you guys think this would be a good idea if I only want to do this for investing and w=sell houses part time?
There are a lot of people who would say it is a bad idea for an investor to have license. When you have a license you kept up to "higher" standards.
However, I an investor and I have license. It was a good decision for me to get one. First I have instant access to all inventory on the market and do not need to be depended on an agent (and in my previous practice most of them were not very reliable). I can check out any property I want at any time without being held by another person and also I know the business from the agents side better. Which helped me to get my latest property under contract for the price that made sense for both parties. If I had an agent I wouldn't be able to get that deal.
So I would say go for it. And you can find an online brokerage that doesn't charge to much money to "hang" the license with them so you don't have work as an agent if you don't want to. And you use your license only for your deals.
Thanks for the response. Would you have any idea how much it would cost me every year to maintain my license while using an online brokerage as you suggest?
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