Newbie

5 Replies

Hi, I'm new to real estate investing. How many of you have your real estate license? Do you suggest I get my license?

Thank you
Tony

Welcome to Biggerpockets! I bet if you just enter that question into the search bar at the top right of your screen you will find a huge debate over this issue @Tony Velez . Personally, I felt that having my license has opened more doors than I could have ever imagined. As a newbie myself just over a year ago I felt getting my license really gave me the confidence to be able to talk to sellers and other investors. 

You should do what is best for you, but the biggest thing you should worry about is who will be your managing broker. In my state (Indiana) you have to work under a managing broker for 2 years. My managing broker just happens to be an investor first and foremost. He also allows me to do my own deals. Many managing brokers will not allow this to happen. 

Some people feel that having a license will get in the way of their investing. Being a licensed agent means that you have more duty and more responsibilities to anyone you are dealing with. For instance, whenever I make an offer as a wholesaler I always tell a potential seller that doing a listing will get them the most money possible. Of course, most people know this to be true, but it is my duty as an agent to make sure they understand that they will not get as much money. It is called having a fiduciary responsibility to everyone we are working with. We (as agents-investors or not) must act in the best interest of our clients. That's it! If you can handle that, then fall forward!:-)

Stephen Barton, Real Estate Agent in IN (#RB14052302)
317-694-4774

Welcome @Tony Velez !

All good points above.

If you are going to make several offers per day/month - then, you'll want your license so you can make your own offers.

Otherwise, if you're only going to do a few deals a year - it may not be worth it.

- it's always good to see another investor utilizing this great site!

Of course, you need to read The Ultimate Beginners Guide to REI here on BP

If you haven’t already, please read/listen to these books ASAP!

Flip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!

Rich Dad Poor Dad

Rich Dads Cash Flow Quadrant

Rich Dads Increase your financial IQ

The Real Book of Real Estate

The ABC’s of RE Investing

The ABC’s of PM

Rich Dad RE Tax Advantages

The 10X Rule

The E-Myth

The 4 Hour Work Week

BiggerPocketsPodCast -I hear #136 is exceptional!

Wholesaling101 You Tube Channel

Kent Clothier – You Tube Memphs Invest channel

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.