MLO License Check List

[Nicholas Ramirez]

To all the lenders out there (In California) --- I'm looking for some advice

I'm want to get into the world of investing in real estate. But first, I want to fix my income. And by fix, I mean earn a decent one that allows me to begin the journey. I figure since I love learning and talking about real estate so much, I might as well have a career in it. So I've decided to pursue an MLO license. Seems to fit my skill set. However, I'm finding it difficult to find out what exactly is necessary to earn the license at all.

I've, so far, figured out that I can either be licensed through the DRE (which requires I first hold a realtors license) or the DFPI (which doesn't seem as lucrative license to hold compared to DRE). Can anyone confirm? Is there any advantage of one over the other here in California?

What would be the steps needed to complete whichever is recommended?

I appreciate any and all help that is provided. Thank you!

[Erik Browning]

@Nicholas Ramirez get your DRE so you can work as a 1099, SchC vs a W2.

Don’t focus so much on these details, they will emerge as you begin training - I recommend Knowledge Coop for the 20 hour training and state training (PE + CE) and anyone really for the DRE stuff.

Focus more on sales, learning the technical part of the job, and marketing. Don’t let licensing be a big obstacle. Also if I had to do it again, I would have done this route: become a processor for 8 months, then become a LOA for one year, then become a LO. While you’re doing that, you’ll gain all of the other valuable skills while you become licensed.

You might be technically an LO after you become licensed, but you won’t know s***. Get some experience under your belt