Getting my license to sell rentals while in college
I have started my pre licensing class to become licensed but I am hoping for some advice. My plan is to sign with a brokerage near my college (Elon, NC) and do rentals in my free time while at school. Is this something that could be profitable or are the costs too great for the limited amount of time I would be able to put in?
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This is a great idea! I tell newly licensed people all the time that they can pay their bills off of rental commissions until they start building up the sales business.
A lot of small landlords don't want to pay for a property manager full time, but would gladly offload leasing. It's typical to make one months rent for leasing an apartment so if you have just 4 a month or so you can probably make pretty good income. Just keep in mind that it's a bit of a grind with a lot of calls. You can systematize things a bit to make it easier but it's still going to be a bit of a slog.
Definitely a super lucrative side job during college though and you will learn a lot. Beats checking people in at the fitness center money wise. Building skills through your college jobs is also important to getting that first job out of college. You'll definitely do that if you do some apartment leasing. Marketing, sales, and general follow up is what and employer would take away from your time in that role.