First year of Investing and learning about real estate

5 Replies

I am brand new to real estate. I have been listening to bigger pockets podcasts non stop for the past 4-5 months trying to teach myself wholesaling and six and flip. I have yet to execute my very first wholesale deal. But I was reading around about my state of Ohio, and began to wonder if it would be smarter to get my real estate liscence before I attempt to do a wholesale deal? My thoughts were I would have direct access to the mls so that would give me a leg up. I am not sure with me being a newbie and all. I would really appreciate some feedback and honest dialogue about what the best route might be?

Hey Lee! Fellow newbie here. From what I've seen, you could always consider networking and partnering with a real estate agent that would be willing to pull comps from the MLS for you. Just an idea. I'm interested in this as well and will interested to see what additional guidance the pros give!

Good luck with your investments!

Getting a license isn't going to add much value to your wholesaling venture.

Sites like zillow and redfin give you pretty good tools to find comps. 

When you're engaged in a wholesale transaction, you'll probably need to include somewhere in your contract that you are a licensed salesperson but are not representing the seller in anyway and that you are a principle in the transaction. 

@Lee Tabb Conflict of interest. When you're a principle, you're acting in your own best interest and negotiating the best deal possible for yourself.

That disclosure makes it clear that you did not have fiduciary duty to the seller in the transaction.

@Pratik P. Ok I see. Now this is the reason that I was considering taking the realtor course and get a liscense because little things like this are important. As well as other terms and procedures that I am not completely familiar with.