I know its tough..but HOW tough?

Question

Hey guys!

I'm currently wholesaling to build capital to invest into SFR and MF homes for a passive buy and hold strategy and I kind of want to kick things into high gear on the real estate side. I currently have a full time job as a Credit Analyst for a deep subprime auto lender and was wanting to know, do you guys think it would be too tough to also try to get my real estate licensing on the side? Once I got it and I would like to venture into it full-time preferably on the REO side a little to better help my network and growth of my own portfolio? Would this be something I need to leave my current full-time job for while taking the courses and possibly after? Thanks for your input!

Aaron Mazzrillo · Answer

When all is said an done, the most successful investors I know are all licensed. I thought that test was cake. Had pretty much nothing to do with buying, selling, or marketing, but I can tell you for dang sure how many square feet the the S1/2 of the NE1/4 and the NW1/4 of the SE1/4 of a township contain.

Ned Carey · Answer

Junior, my guess is you've read enough here that real estate license clases won't be to tough for you.  It is mostly legal stuff with nothing about how to buy, sell or market property.

Terry Royce · Answer

Junior, if wholesaling is going well why would you not just focus on that with the additional free time you would have? I understand the networking aspect of it, but its like anything and you will be starting at the bottom and having to work your way up and build credibility.

I would instead focus on creating and strengtening relationships with existing REO agents and brokers, who already have great relationships.

Just my opinion. Good luck!

Gary Parker · Answer

@Aaron Mazzrillo I cant believe you remember that stuff LOL.  That stuff hurt my brain.  I do agree that it is best to have a license.

Deadrick Colbert · Answer

I don't have my license but if I decided to get it, this is where I would go. I know many people that have used them. The feedback is that they are more in depth and get you ready for the exam better than Greenville Tech.

Junior Salters · Answer

@Deadrick Colbert

Yea I had someone tell me that they were pretty good. Did you use them or know of anyone who has?

Junior Salters · Answer

@Paul Sorgi Thanks ! I agree with you!

Deadrick Colbert · Answer

Junior,

You could do it while working. Wyatt School of Real estate is the best in the upstate. You can go during the day for 8 days or in the evening for 15 nights.

Paul Sorgi · Answer

Getting a license would not hurt and should be relatively easy to obtain. I would keep my FT J.O.B until you are making enough money to leave your job. My rule of thumb would be a consistent income of 2x what you are earning currently at your job.  Make sure you remain focused on Building your business and don't fall in to the trap of building some on else's business.  Get your License for your reasons not to just become another agent in the field.

Junior Salters · Answer

Terry Royce I definitely understand and that is my other option. And I don't want to overload myself, but I was thinking I could do all the above while taking classes although that would mean more money out the pocket, but if that's what it takes I'm fine. Thanks for responding!

Ned Carey I honestly don't fear it too much as far as the test go, but I know the time will needed to be taken. But you're right, I'm sure there is a lot of legal stuff to catch on too but through BP I do have some foundation!

Mark  Ferguson I knew you would say that! But you're right. I've done some research and being that it is South Carolina (no offense to my state) it doesn't seem to extensive or difficult, more time consuming.

Gary Bailey I like your thinking Gary!

Aaron Mazzrillo Also one of the big things I notice and if they aren't licensed their spouse is which is the other thing I'm weighing.

Thanks for all the responses you guys!

I know its tough..but HOW tough?

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