New to Real Estate Development
4 Replies
Jameson Fecteau
New to Real Estate from Boston, MA
posted about 1 year ago
For a career in Real Estate Development, is it seen as beneficial to possess a Real Estate License? I'm currently enrolled in University on a path for a finance degree, and am interested in getting real estate licensure in the near future.
Does anyone think a real estate license is a good investment in the near future?
Greg Dickerson
Developer from Charlottesville, VA
replied about 1 year ago
Originally posted by @Jameson Fecteau :For a career in Real Estate Development, is it seen as beneficial to possess a Real Estate License? I'm currently enrolled in University on a path for a finance degree, and am interested in getting real estate licensure in the near future.
Does anyone think a real estate license is a good investment in the near future?
Yes it is very beneficial in terms of mls access, capturing commissions on the buying and selling side of the properties you plan to develop. You can also build your own firm with your own agents as you grow and scale your business if you choose. I got my license after I paid a realtor $300,000 one year. Now I use the buyers commission to reduce my cost of the purchase
Jameson Fecteau
New to Real Estate from Boston, MA
replied about 1 year ago
Originally posted by @Greg Dickerson :Yes it is very beneficial in terms of mls access, capturing commissions on the buying and selling side of the properties you plan to develop. You can also build your own firm with your own agents as you grow and scale your business if you choose. I got my license after I paid a realtor $300,000 one year. Now I use the buyers commission to reduce my cost of the purchase
Thank you so much for this input! Never realized I could use licensure in this way.
With that being said, I feel as if I am lost, searching for HOW to start my own Real Estate Development firm (The overall goal). What and where is the best place to get a solid starting ground?
Greg Dickerson
Developer from Charlottesville, VA
replied about 1 year ago
Originally posted by @Jameson Fecteau :Originally posted by @Greg Dickerson:Yes it is very beneficial in terms of mls access, capturing commissions on the buying and selling side of the properties you plan to develop. You can also build your own firm with your own agents as you grow and scale your business if you choose. I got my license after I paid a realtor $300,000 one year. Now I use the buyers commission to reduce my cost of the purchase
Thank you so much for this input! Never realized I could use licensure in this way.
With that being said, I feel as if I am lost, searching for HOW to start my own Real Estate Development firm (The overall goal). What and where is the best place to get a solid starting ground?
Development requires serious expertise, deep pockets and the ability to raise a lot of money.
That being said It all starts with educating yourself on the markets, types and class of properties, financing options, deal structuring, the development process, costs and running the numbers and doing financial analysis and projections.
Jameson Fecteau
New to Real Estate from Boston, MA
replied about 1 year ago
@Greg Dickerson Thank you! I'll continue to educate myself day after day.