question from a newbie....should I get my real estate license?

Question

I'm just getting started in my RE investing career. I know my target market, my buy box and funding possibilities but I'm struggling to find good deals (shocker, i know). I'm curious what others think about obtaining a real estate license? I thought it may help getting inside info on off market properties. Any thoughts appreciated! Thank you!

Philip Walsh · Answer

Jake - this is super helpful, thank you. Typically what commission do these flippers offer? and is there an efficient way to broadcast this to realtors? Thank you!

Jake Andronico · Answer

@Philip Walsh

The more you offer, the more incentivized a realtor is to work for you :)

It varies by flipper, but I naturally push deals to the ones most open to commission on the buy and sell side.

Jake Andronico · Answer

@Philip Walsh

I'm an investor in Reno NV, and a Realtor.

The largest flippers I work with (one does 50 flips and the other does around 75 per year), all get the most leads from agents and offering them commission.

When you hold cards close to your chest and don't incentivize people to work FOR you, don't be surprised when nobody shares a great deal they know about with you.

I only share off-market deals with flippers that I know will compensate me... not other licensed individuals.

If you're trying to find great off-market deals, you can putt in a ton of hours yourself, or you can "hire" people to do it for you.

If the commission makes or breaks the deal, it's not that good of a deal.

Just my 2 cents. Best of luck to you!!

Marc Winter · Answer

Why not get paid for all the research, running around, inspecting, and analysing you'll be doing looking for an investment?

If you truly want to gain an inside track to real estate wealth, definitely get your license.  The knowledge and experience you gain by participating in an established re office will speed your progress.

Good luck!

Philip Walsh · Answer

Super helpful Marc! Thank you!