New to this, Is it worth it to get a real estate license?

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New to this, Is it worth it to get a real estate license?

Clint Olsen
Healthcare · Ogden, UT · Member since 2015 · 1 post · 0 votes

Hi all! 

My name is clint and I am just getting started in real estate investing. This is new to me but I'm confident i can be successful in this business and I'm excited to become part of the bigger pockets community. My plan is to get my real estate license, i figure It will help me not only sell my houses i fix and flip but also give me a good understanding of real estate. Also want to get into rentals. Is it worth getting a real estate license? Maybe you guys can give me some insight on this. I just recently sold my house and made some good money on it, part of which I would like to use to help start investing in real estate the other part to buy me another primary residence. I am open to any suggestions and advice ! Just ordered "The book on flipping house" as well as "The book on estimating rehab costs." Thanks ahead for any input! 

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Devan Mcclish
Investor · Nashville, TN · Member since 2015 · 688 posts · 607 votes
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@Clint Olsen Yes. It is a good education, you get to pull comps that are extremely accurate, and you get access to the courthouse retrieval system, so all tax cards, absentee owners, etc. 

The downside is you have to disclose, you will carry more liability as an agent because you're supposed to go about business morally, ethically, and legally. You will also incur extra costs such as MLS access, continuing educatino, E and O insurance, maybe broker overhead.

You also need to find a broker that understands investing and is ok with assignment, double closings, fix and flips. 

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  • Devan Mcclish
    Investor · Nashville, TN · Member since 2015 · 688 posts · 607 votes
    11y

    @Clint Olsen Yes. It is a good education, you get to pull comps that are extremely accurate, and you get access to the courthouse retrieval system, so all tax cards, absentee owners, etc. 

    The downside is you have to disclose, you will carry more liability as an agent because you're supposed to go about business morally, ethically, and legally. You will also incur extra costs such as MLS access, continuing educatino, E and O insurance, maybe broker overhead.

    You also need to find a broker that understands investing and is ok with assignment, double closings, fix and flips. 

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  • Kyle Tokasey
    Investor · Tempe, AZ · Member since 2015 · 304 posts · 19 votes
    11y

    Hey @Clint Olsen, great job jumping in and introducing yourself!

    As a new member one of the best pieces of advice I received was to setup some "Keyword Alerts" to get into conversation in your target area. It’s a great way to narrow down the site to what interests and benefits you most.

    Looking forward to learning with you on BiggerPockets!

    -Kyle

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
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    Welcome to BP @Clint Olsen.  I would say if you are going to use your license for 4+ deals per year, then it is probably worth it. If you are going to do 3 deals or less per year, I doubt it is worth the hassle and cost to get and maintain your license.  There is a number of fees that add up, as well as the time you have to put in taking you CE classes and meetings with your broker and in house training.

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