Hi everyone, I’m just starting out and trying to find my niche. My fiancé and I are thinking about trying to finance a flip with hard money and about 30k of our own. In an effort to minimize costs and maximize our learning curve we are considering one or both of us becoming a licensed real estate agent. The cost of the classes seems reasonable and it seems like the return on investment would be worth it. I was thinking it might help secure deals with hard money lenders also.
Please feel free to share any experience or insight.
@Donovan Allen having a license is a two edged sword for sure. It does not help you find deals more easily, and the training you get as a realtor is all about compliance which doesn't help with investing. In addition, the license carries with it a very real fiduciary responsibility. You could easily get sued as an agent in the investing space if you are operating at all in the grey. Lastly, the fees do add up over time for the MLS, realtor board, etc.
What it can do if you are a full time agent is give you a strong network of other professionals in the industry that you can work with. Since you bring a lot of value (income) as an agent to these professionals, they are often times willing to help you quite a bit. My attorney, lender, inspector and general contractor are all important parts of my team that I wouldn't have met if I wasn't a full time agent.