Cleveland · Member since 2021 · 95 posts · 52 votes
I have recently been debating this with my father and other newbie investors. I argue that the knowledge I gain from the course and the access to the MLS is worth the upfront and yearly costs, along with the added paperwork. I would love to hear the opinions of more experienced investors!
@Chase Lowry Not really. You don't learn much from the classes that really help you in the day to day. The costs add up quick and you need to sell at least 2 properties a year just to break even. You can be successful both routes but it depends on your personality
It will depend who you ask and what your goals are.
I personally got my real estate license and am now a full time realtor and investor.
If you don’t plan on flipping houses you could argue against getting it because you won’t be saving on commission costs and you will have to be paying the license fee yearly along with the continuing education.
It is a plus for finding expired multi family properties on the MLS though which is what I use it for.
@Chase Lowry Not really. You don't learn much from the classes that really help you in the day to day. The costs add up quick and you need to sell at least 2 properties a year just to break even. You can be successful both routes but it depends on your personality
Like I always say to people, unless you want to sell houses for a living, you don't need a license to invest.
If you want to sell houses AND be an investor, that's great, get your license. But if you want to earn in your chosen career and invest, don't bother getting licensed.
Even most flippers partner with a Realtor to sell their houses. The flip expertise is the acquisition and the rehab, and unless you want to learn the ins and outs of marketing and sales for houses, you can just partner with a Realtor and work out compensation based on volume.
The courses do not really give you any knowledge about investing -- to be honest the initial courses don't give you any knowledge about sales. They give you a lot of knowledge about mortgage amortization, how many square feet in an acre, metes and bounds, and especially the punishments for illegal activity.
TO be honest.. TO be a successful investor , NO way . you don't need it. 1st you wont learn anything, only some regulations and ethics ... other than that ... not really necessary .. NOW, ( My personal opinion) In my advantage (I'm a license realtor, 90% of my business is on the investment side) the only thing it really helps me I've seen is that only provide legitimacy, reputation reliability , professionalism and some authority, IN front of other investors or partners or sellers (JUST for the fact I have a license, Not the knowledge gain on the test ...) The tru knowledge ( my experience ) you get it on the street, investing day to day hustling and good mentors in the investment industry,...
Nothing related to investing will be taught on the RE test .