Hayward, CA · Member since 2017 · 70 posts · 7 votes
Becoming a real estate agent to buy 1st house hack stupid idea?
I really want to become a real estate investor and buy multiple properties. However, I am not sure if I want to do real estate as my main job forever. Is it stupid to get an real estate license to buy my own rental properties? I also want to test being a real estate agent (I'm fairly young, 25 y/o). If I get a real estate agent license I don't have to depend on another agent to show me all properties, submit offers fast, etc.
Would it be weird if you are an agent looking at properties? Does this give you an advantage with buying houses or a disadvantage?
Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes
8y
@Bryan Tasumi, it was told to me years ago that one in every four Californians get their License at some point. Hey, who can argue with the idea of getting between 3 and 6 percent of sale prices in La La Land, for perhaps the cost of a few smiles and handshakes over drinks?
You mentioned "submit offers fast". But what about "submit cash offers fast"?
Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes
8y
@Bryan Tasumi, it was told to me years ago that one in every four Californians get their License at some point. Hey, who can argue with the idea of getting between 3 and 6 percent of sale prices in La La Land, for perhaps the cost of a few smiles and handshakes over drinks?
You mentioned "submit offers fast". But what about "submit cash offers fast"?
@Bryan Tasumi, it was told to me years ago that one in every four Californians get their License at some point. Hey, who can argue with the idea of getting between 3 and 6 percent of sale prices in La La Land, for perhaps the cost of a few smiles and handshakes over drinks?
You mentioned "submit offers fast". But what about "submit cash offers fast"?
There's the rub...
So is it a good idea for me to get my Texas real estate license and buy my 1st property myself?
Real Estate Agent · Virginia Beach, VA · Member since 2012 · 2k+ posts · 1k+ votes
8y
If you are comfortable with the process, negotiating, disclosures, etc., then having your own license can help immensely as not only do you get a portion of your side of the commission depending on your broker agreement, but you also get business deductions like mileage, equipment, etc. There are, however, costs for licensing, continuing education, access fees, etc., so just weigh the pros and cons and see if it's right for you. If you are not comfortable handling your side, either find a broker willing to guide you along the way, even if they take a higher percentage, or find a good buyers agent and use them instead of getting your license until you're comfortable on your own as details matter and mistakes can be costly.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
8y
The license would let you collect some commission, but probably half of that would be eaten up in licensing/mls costs.
Getting a license gives the Right to collect a commission but Working as an agent is what would give you local market knowledge, transaction and negotiating experience.
For about half the commission, you would have a “rookie” agent representing you.
@Bryan Tasumi, it was told to me years ago that one in every four Californians get their License at some point. Hey, who can argue with the idea of getting between 3 and 6 percent of sale prices in La La Land, for perhaps the cost of a few smiles and handshakes over drinks?
You mentioned "submit offers fast". But what about "submit cash offers fast"?
There's the rub...
So is it a good idea for me to get my Texas real estate license and buy my 1st property myself?
Aah, and here I thought you lived where your profile says you live! [Ok, I don't live in OH, either].
For your own home, why not do so as an unlicensed searcher for Sellers? [Find funds first!]...
Hurst, TX · Member since 2016 · 192 posts · 114 votes
8y
I’ve heard all the pros and cons but i think extra education (especially in a field you want to thrive in) is always a great idea. You may try it out a while and decide you don’t like it. Or you may end up loving it. Either way you’ll probably meet great people in the industry and make friends with amazing agents who will help you in the future. You land 1 pocket deal and it’ll more than pay for your license ;)
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
8y
Bryan, You said you want to invest and house hack that being the case knowing accounting, business, and construction, in my opinion are far more valuable than a real estate license. You can find a good agent who will get you farther and faster than you could, and allow you to focus on what you will need to know as a successful investor/hacker.