Residential Real Estate Broker · College Station, TX · Member since 2013 · 1k+ posts · 969 votes
7y
@Chris M.. I would much rather go to a sit down class than take training online as I think you gain from the interaction of students.
However, If you wanted to start training online, check out www.BuildMyREBusiness.com . Austin Institute Of Real Estate - Wayne Morgan is owner. Did a number of trainings with him including being his first one-on-one mentee.
Portland, OR · Member since 2016 · 108 posts · 33 votes
7y
Hey, Alan, thanks so much for the reply. That actually brings up another question I had: do you need to take the Real Estate License tests for the state that you're a resident of, or for the state that you're planning on selling homes in?
While I'm technically a resident of Oregon, I'm traveling and plan on potentially selling in Texas. Would I need to do the tests for Texas and get my license for that state then?
Residential Real Estate Broker · College Station, TX · Member since 2013 · 1k+ posts · 969 votes
7y
@Chris M. You will need a license for the state you plan to do business in.
Texas does not have a reciprocity agreement with Oregon, so if you are an agent in oregon or become an agent in Oregon, you will still need to take the Licesing Education and pass the Texas RE Licensing text to become a Licensed Texas RE Agent.
@Chris M. You will need a license for the state you plan to do business in.
Texas does not have a reciprocity agreement with Oregon, so if you are an agent in oregon or become an agent in Oregon, you will still need to take the Licesing Education and pass the Texas RE Licensing text to become a Licensed Texas RE Agent.
Thanks, Jim, that makes sense. I do know the Oregon market fairly well, but not so well that I should definitely start there. Would rather invest in a landlord-friendly state.
Residential Real Estate Broker · College Station, TX · Member since 2013 · 1k+ posts · 969 votes
7y
@Chris M.. I would much rather go to a sit down class than take training online as I think you gain from the interaction of students.
However, If you wanted to start training online, check out www.BuildMyREBusiness.com . Austin Institute Of Real Estate - Wayne Morgan is owner. Did a number of trainings with him including being his first one-on-one mentee.
Portland, OR · Member since 2016 · 108 posts · 33 votes
7y
Awesome, thanks for the link, Jim, will definitely check it out. I'll be honest: I've been stuck in what BP calls "analysis paralysis" for a few years now and currently have nothing invested in real estate. I've decided to make 2019 the year of action. Always thought about getting my RE license and becoming an agent to get things started as a way to really learn the market in the real world and think that's exactly what I'm gonna do. Currently discussing ideas with my dad for my first deal. He's retired but interested if I can put together a good enough deal where we'll both profit. My personal credit isn't the best, and I'm self-employed so my declared income on tax returns is pretty low, so don't think I could qualify for traditional funding at the moment. Basically thinking about making real estate agent work my side hustle/2nd full time job to start making a little extra money for myself and to learn the market before I start seriously investing. Especially in a state like Texas that I haven't spent a whole lot of time in. Basically going to identify the states/areas that are the most landlord-friendly and go from there.
Residential Real Estate Broker · College Station, TX · Member since 2013 · 1k+ posts · 969 votes
7y
@Chris M. What's you current area of employment? The best fix for "Analysis Paralysis" is to pick a date and announce it to everyone - you'll get in gear to do something to avoid embarrassment.
Checkout several Lenders, find one you feel comfortable with, spread all your cards on the table and see what they can do to help you with approval or a game plan to get there. Lenders want to make loans - it's how they make money!
Portland, OR · Member since 2016 · 108 posts · 33 votes
7y
Hey, Jim, it's e-commerce. Yes, very good idea on announcing a date publicly to friends, family and peers. I watched a BP podcast where it was discussed that telling others about your objectives/goals increases the likelihood you will accomplish those objectives like you said to avoid embarrassment.
Yup you're right about lenders... they do want to lend. From all of the BP podcasts and research I've done, it seems local credit unions are often the best bet for new investors. Planning on having my dad co-sign for the loan since his credit is good.
Glad that I've spent a lot of time educating myself... read multiple books, watched tons of BP podcasts and other videos/podcasts on RE investing.. but 2019 must be the year of action. Even if it's just some little 100k rehab house... the first deal will happen this year.
Realtor · Bastrop, TX · Member since 2018 · 16 posts · 4 votes
7y
@Chris M. …. What area in Texas? Like I said, im currently working towards my license for Tx as well. We may be able to team up at some point if the right opportunity presents itself. Im currently in San Diego, getting ready to separate from Navy and will be focusing on School and investing full time in either Austin or College Station.
Residential Real Estate Broker · College Station, TX · Member since 2013 · 1k+ posts · 969 votes
7y
@Michael MOwad. I would think - YES! You're more educated about the Industry, you have a source for Comps, possible deals, etc.
Downside, you are bound by Industry Norms & Ethics, potentially have more liability as an "Expert" in the field, and of course, the associated costs of maintaining licenses and memberships in REALTOR Associations.
@Chris M. …. What area in Texas? Like I said, im currently working towards my license for Tx as well. We may be able to team up at some point if the right opportunity presents itself. Im currently in San Diego, getting ready to separate from Navy and will be focusing on School and investing full time in either Austin or College Station.
Hey man that'd be awesome! I think partnering up would be a good way to avoid some bad mistakes and learn faster. Looking into the Austin area... it seems to be a hub for activity that keeps growing.
Think Jim is right on getting the license: it might cost a little extra, but it seems like being an active real estate agent would be one of the best ways to become truly educated in a local real estate market.