I just turned 21 years old this month and I have been trying to get into real estate investing for the past couple of months. I've been watching and reading a lot about if I should get my license or not, but I'm still not absolutely positive what the right decision is. I see a lot of videos claiming not to because it "restricts" you in some ways when it comes to investing. My mother is also trying to get into investing as well. I'm wondering if when and if I get my license, will I have to work for someone else and not be able to do my own deals for a few years? I'm a little confused on the "being an agent and investor at the same time" concept. Also, if I did go on to get my license, should I aim to get my broker's license as soon as I can after that? My goal is to make millions and be my own boss (of course), I'm just not sure where exactly to start! I am from Georgia and will be doing majority of my work here. Hope to hear back! Thanks in advance!!!
I don't think it ever hurts to get your real estate license especially as an investor.
What are you confused on when it comes to investing and being agent? And I wouldn't stress about getting my brokers license right away. Learn the business, learn about your market, network, and go from there. Hope this helps and good luck!
This is a common questions, with lots of different opinions. I do think getting your license can be a great tool because it gives you access to the mls, education, and the ability to access the listed homes on your own. The negatives are that you may be shifting your focus from investing to a job, and may defeat the purpose, also when you are an agent you must disclose, and also have to walk a fine line of negotiating yourself a great deal, and if you should be looking out for the person you should be negotiating with.
I would suggest making it part of your long term plan as you grow as an investor but don't do it right away. Focus on saving money, finding deals, and learning the investing portion. Interview a few agents and find one that knows investors and you can learn from. The commission that you pay them will be small in the work they do, and what you can learn from them. As you gain knowledge and want to scale your investing business, get your license and grow from there.
The one thing that is certain is that getting your license won't lead to making millions. Real Estate agents can make a great income, but you won't get rich doing it, but you can by investing.
Good Luck! Aaron
@Kim Morris there are a lot of pros and cons to a license. A search here should bring up some lively debates. The main advantage is access tot he MLS to get accurate comparable sales to help you evaluate deals.
I did some of my most profitable deals before I became an agent. I didn't like being an agent and have since given up my license. However my business partner is an agent.
Getting your license wouldn't restrict you from doing deals. You would have to disclose that you're an agent if you're calling about a property. Which could make it more difficult.