Real Estate Agent Mom and Military Wife??

7 Replies

Im new here :)

I'm a military spouse and mother of two. We bought our first house with the idea of renting out when is time to move again. And we plan to do that again when we move to another duty station and if it's worth it (location). Well, I've been thinking for over a year becoming a real estate agent. As a young mother of two (2 and 4) and a military wife, do you think it is possible? I understand that it is what you put into, but is it worth it?

I currently work ALL day 5 days a week. I work 9am to 8pm, no flexibility. I understand it will be about the same hours or MORE but is there any flexibility as a real estate agent?

Cons and pros?

Please I need some opinions and support :) 

If you want to be a retail agent it will take up a lot of your time. You will need to put the time in to get listings, market, etc... I worked it out that if I buy/sell a house a year it would be worth it. I got mine because I buy and sell multiple houses each year so if I do some of those transactions myself it will cover my expenses and make it worth it. I also love that I have access to the MLS myself and it makes things a lot easier when it comes to rental and sale comps. It sounds like you would be more on the retail side so you can expect to spend a lot more time and it will be a JOB. Unless you are planning to invest yourself or use it to help out friends and family only.

Originally posted by @William Allen :

If you want to be a retail agent it will take up a lot of your time. You will need to put the time in to get listings, market, etc... I worked it out that if I buy/sell a house a year it would be worth it. I got mine because I buy and sell multiple houses each year so if I do some of those transactions myself it will cover my expenses and make it worth it. I also love that I have access to the MLS myself and it makes things a lot easier when it comes to rental and sale comps. It sounds like you would be more on the retail side so you can expect to spend a lot more time and it will be a JOB. Unless you are planning to invest yourself or use it to help out friends and family only.

 Thanks!! I really appreciate it.

The more time I put at it, the better. Eventually, I want to become an investor.

YES it is worth it, if you have the passion.

Yes it will be work, but sounds like you WORK everyday already.

What a great opportunity you have, you could specialize in "Military Families" and/or "Working Moms" - who better to understand their needs.

The downside will be, you will need to get a license in which ever state you end up moving too, each state may have different requirements, test etc to get licensed.

If you end up moving to California, contact me, I would be happy to help out a military family and working mom.

@Gloria Duran , I am a licensed agent, and I took the classes while I was a stay at home mom. If you are working 11 hours a day, 5 days a week, you may not have the time to devote to the classes. The classes cover topics that may be unfamiliar to you - I've been investing since 1998 and was still surprised at all the stuff I didn't know before the classes.

That said, if you feel you can devote the time to it, there are two portions of the test, the National and the state. Each time you move, you would have to learn and take the new state's portion. Not sure if you would also have to re-take the national portion. Once you have been licensed for two years, most states have reciprocity with each other, and that allows you to only take the state portion of the exam going forward.

It is certainly worth looking in to. Like @Account Closed said, you could serve a very specific niche. I took classes online, and they allowed me to go through the course at my own pace - I had up to 1 year to complete the classes, and even that could be extended if I made the request. Colorado is 168 hours of classwork.

@Gloria Duran On a side note, you can use the VA Loan to buy a duplex when you PCS and buy a new place. You typically need to justify it as something like an "in law suite"; no using the term investment. I've read that you can use it up to a four unit but an investor associate of mine who is also a bank manager says the VA never approves more than a duplex. Good luck with your real estate classes. The realtors I know do seem to have a more flexible schedule but they also do a lot of showings on weekends so keep that in mind.

Lastly, when you move out of your current house, you have to inform your insurer of the change in occupancy status from primary home to rental. Otherwise if you need to file a claim you could be SOL. You would also want to look into getting that house out from under you personally. This requires either a land trust into an LLC or umbrella insurance. My understanding of this is rudimentary at best so talk to an attorney. I started the process on my rental but it's under contract to flip instead.

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