Thinking about becoming a MLO

[Nathan H.]

Hi BP Community,

I want to get your take on a possible career change and see if you’ve found some of the assumptions I’m making to hold true. 

Currently I’m a tax accountant. I specialize in exchanges and partnerships (typically real estate), but I’m pretty well versed in tax overall. I’ll be a licensed CPA before the end of the year (1 test to go!). 

I’ve put so much time and effort into becoming a CPA, all while investing very actively in real estate. It would be a shame not to put it to use. In being honest with myself, after being in public accounting not that long... I hate it!! My real passion is real estate. It’s so hard working for a salary that I can, and at least once a year, do make on just 1 real estate deal. I really do it for the lend-ability of a W-2 job (I usually buy with HM and refinance) and the educational aspect. 

Now that I’ve given some context, here are my questions, but please add anything that you feel could be helpful...

- Do you feel that being a CPA that knows tax would be a material advantage when it comes to a career as a MLO? 

- What are a couple of major drivers of a successful MLO career? 

- Is this something I could realistically build up part time, while working full time at my CPA firm, winding things down. 

Thank you in advance for the guidance!