Thoughts on Obtaining Real Estate License in Colorado

Thoughts on Obtaining Real Estate License in Colorado

Contractor · San Antonio, TX · Member since 2020 · 6 posts · 3 votes

Hi everyone!

Thoughts on obtaining a real estate license in Colorado?

My husband was born and raised in Colorado and we now reside just outside of San Antonio, TX. While the cost is low(er) what we value as a family isn't met as far as the outdoors and climate, it's HOT and humid. We love Colorado but are obviously aware of the fact it isn't what it used to be, neither is San Antonio.

My husband is in commercial Construction with experience in residential. I am seriously considering the idea of pursuing real estate full(ish)-time and working together as a team on all spectrums of real estate: sales, rentals, renovations, getting homes sell ready, while investing in other markets for long term rentals.

I wanted to hear from someone who has gone this route and taken on real estate full(er)-time in Colorado (even though I'd prefer it to be more middle ground.)

If/when we sell we will have a large amount of equity out of our home, zero debt and a fully funded safety fund. We are a young family with 2 small children, open to opportunity in a climate that we love and enjoy, though we love Colorado because it is a direct flight to and from Texas where my family is. A move, paired with the uncertainty of COVID and the somewhat opposite political climate in Colorado are somewhat of a deterrent for me being born and raised in Texas but I absolutely love what Colorado has to offer from an activity and lifestyle perspective.

Wanting all the thoughts from a personal and real estate perspective. Thanks in advance!

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  • John HertePro Member
    Rental Property Investor · Lakewood, CO · Member since 2020 · 5 posts · 5 votes
    6y

    Following post.  I too am looking into getting my RE license as I own a few properties and would like to expand my knowledge and get into this field instead of my current healthcare career of 30 years.

  • Realtor · Denver, CO · Member since 2016 · 499 posts · 129 votes
    6y

    @Josh Jack Hi and Welcome to BP and Colorado

    My wife and I are both Realtors and have been in the business for 6 years now in Colorado. We love it and have met some interesting people and made some great connections. Let me know what questions you have and my wife an I will do our best to answer them.

  • Realtor · Denver, CO · Member since 2016 · 499 posts · 129 votes
    6y

    @John Herte Welcome to BP. There are a lot of great advantages to being licensed and there are a lot of challenges to it. Feel free to reach out with any questions you might have.

  • Investor · San Antonio, TX · Member since 2019 · 576 posts · 307 votes
    6y

    I saw you mentioned investing in other areas for long term rentals, but if you already live near San Antonio you should definitely consider the deals in your own back yard. 

    Hard to fault what you said about the outdoors and climate in Colorado though, truly one of the most beautiful states. Have been skiing and hiking there in the past and had an absolute blast. It is hot here in Texas! 

  • Real Estate Agent · Littleton, CO · Member since 2014 · 74 posts · 45 votes
    6y

    @Josh Jack - You're definitely picking the most gorgeous state in the union. 

    Being a licensed agent has ups and downs. Especially if you're going to be full-ish time, make sure you take a look at your fixed costs are. Getting your license isn't terribly expensive, but all of the bells and whistles can get costly in a hurry. Just know what kind of goals you want to achieve with your real estate business and set your direction from there

    It sounds like a work/life balance is important to you. Being an agent will allow you to set your own hours, but your amount of time invested is definitely reflected in your results. My mentor always reminds me that real estate agent work is done on evenings and weekends. Technology makes it not as time consuming in some ways, but it still takes time to build a client base and work your business.

    If you do decide to invest and become licensed, there are some advantages to being both. Things like tax advantages aren't apparent on the surface, but could benefit you in the long term.

    It's good to have some additional income from other sources, since agents only get paid when we close.

    Good luck. Let me know if you want to chat and compare notes.

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