My end goal is to be investing in properties. So I’m wanting to get into real estate as a real estate agent to learn the business and market for investing. As well as networking. I am planning on getting my license starting May 6th. I only have around 5-6k to start with and I don’t know if that will be enough to get me to where I can start earning income. I am wondering if I should take some time in the oil industry to save up some more money for my startup. As of right now I’m just kind of scared that I won’t have enough to get going.
Hey Conner, welcome to the BP community. That is a good questions and one that I feel only you can answer. First, I don't think you need your real estate license to get started with investing. The things you learn in the class have nothing to do with analyzing good deals or what to look for in distress and "value add" properties. However, it will save you some commission if you plan to buy off the MLS and when you sell you can defiantly list your properties. It would keep you focused in the field (that is why I got my license after about 6 years of investing). I was ready to make real estate my career as well as my passion. You can certainly make good money as an agent if you are willing to out work or out think your competition.
But your other strategy can work very well. Going the route of a safe good paying job and saving 60% of you income to invest will make you very successful in real estate investing in the long run. You will also be able to get loans easily with steady income. It can be hard as an agent with income that fluctuates especially as a new agent.
Good Luck! I think you will be successful no mater which path you decide to follow as long as you take action!!