Broker license for deal seeking?

Question

Access to MIL listings can be difficult for me.  My schedule is unpredictable, so my windows for viewing come and go quickly.  Anyone out there using a Broker license strictly for finding investment properties?  How does that work for you?  Pros? Cons?  I’m strongly considering the investment.

Nathan Gesner · Answer

If you don't have time to search the MLS, how can you find time to get a real estate license?

Most web sites allow you to set up search parameters and then they email you anything that matches what you are looking for. Find a REALTOR to work with and they will do this for you. Find a good REALTOR that has experience in real estate investing and they may be able to help you find deals before they hit the market. The problem is that they get a lot of wanna-be buyers so you need to prove whether you're serious and worthy of the effort. One way to do that would be to get a written agreement that says if you do not buy anything in XX days then you will compensate the agent $XX per hour for their efforts. This requires you both to trust each other a little, but it's a great way to motivate the agent to work for you.

Another option: hire an assistant. Find some stay-at-home mom or friend or something that wants to earn a little money on the side. Teach them how to analyze properties and give them a list of what you are looking for. Then pay them $100 a week or whatever you agree on. They can search listings, crunch the numbers, and send you a list of properties that meet your criteria. Offer them a bonus if the sale goes through.