However, the only way I see “in” is if I start out as a Real Estate Agent. Would bring a real estate agent help with learning about the investing business? Are there any conflicts of interest as far as being an agent and investor go?
I think my ultimate goal would be to own apartment buildings and maybe get into development.
Thanks so much for your time.
Why do you see that as the only way in? you would still need to save up money to purchase your own properties, it would just be a different jobs.
The reason why I see this as the only way in is because I think I could learn a lot from being a Real Estate agent, and hopefully could apply that knowledge to investing. What are your thoughts on that?
@Armin Trepic what are you planning to and/ or wanting to learn? A lot of agents don't know much about investing they just work with owner occupants.
Allow me to throw in my 2 cents worth. After being an active broker for 30+ years, I would encourage you to become a licensed agent and then broker.
The experience of inspecting many properties on a daily basis, learning the listing as well as the selling side will only up your game when it comes to negotiating with a seller who's property you want to buy.
Some of my best and most profitable 'flips' were because I went out on a listing call, knew the property values and was first on the scene.
Remember, there is a fiduciary responsibility involved, so you must be totally honest and make your disclosures. My approach was always to inform the seller know that if we market the property as a listing, they could possibly get more.
However, as an investor, I would purchase without any contingencies (yes, including waiving inspections and mortgage clauses) and therefore less muss and fuss for the owner. When they NEED to sell, they want out fast and want to know you can close!
The only way you can be that 'daring' is if you REALLY know your market, repair costs, ARV, financing and closing procedures. To me, the best way to get that experience and knowledge is by inspecting, showing, listing and selling. Know your market--be the expert.
Along the way you'll develop relationships with mortgage brokers, other investors, attorneys and other brokers. You'll also make money off the houses you list and sell.
This is an absolutely WONDERFUL and profitable business, and can be a real win/win when done right--honestly, ethically and professionally.
Marc, thank you so much for your valuable input! That was some fantastic advise that I definitely will be aligning myself with.