Real Estate License or Inspector License or BOTH
Previously bought my first property in July. I am looking for a part-time job to make more capital to buy more properties. I plan to get my real estate license prior to buying my second property. A buddy of mine told me to get my inspector license as well. What are your thoughts worth it or not? Through Hondros College a real estate license and courses cost around $1900-2000. An inspector license and courses cost $1700-$2400. What would you suggest?
Most Popular Reply
Hey Jake!
The answer depends on which avenue you believe will give you the best chance to reach your income goal AND which avenue you believe will give you the most opportunity.
Both options will require you to run it as a business vs. a part-time job. Furthermore, you'd want to look at these options as sales and marketing businesses vs. a realtor/inspector business.
Agents market and sell to prospective buyers, sellers, and investors.
Most inspectors market and sell to Agents.
Think about who you'd want to spend your time marketing and selling to.
With your investment experience, chances are you've already connected with a number of agents AND you've had your share of conversations with property owners and other buyers.
Which group can you envision yourself spending 2-3 hours each day marketing and selling to?
The lowest barrier of entry may come from being an agent. You already have relationships (friends, fam, co-workers, neighbors, former classmates, etc.) with people who own property or want to own property soon. This would likely be your highest quality source of leads/clients as you get started since these people already know and trust you.
On the flip side, you may already have agent contacts who know and trust you and would consider recommending you to their clients as an inspector.
There are 2 challenges I see here:
1. Agents already have their trusted team of inspectors, attorney/title, lenders, etc. Getting your first opportunity with these agents will take time and consistent follow-up... aka you'll need to be top of mind AND ready to go the minute they need you bc their preferred inspector(s) are unavailable.
2. Agents are reluctant to recommend an inspector who is NEW and who they have not yet worked with in that capacity.
Hope this helps!
Abel
- Abel Curiel
