Becoming a RE agent before investing necessary?

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Becoming a RE agent before investing necessary?

Karima Harris
Yonkers, NY · Member since 2015 · 9 posts · 1 vote

Hi I'm Karima, new to the site and to RE. What benefits come from becoming a RE agent if I only plan to invest? I want to purchase my first rental property in 2016.  Is this realistic?

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David Dachtera
Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
10y
Originally posted by @Karima Harris:

Thank you for your response Russell Brazil. What are the prerequisites to owning the first rental property? Or does one simply learn as they go? How did you land your first deal?

My advice is to learn HOW to do something before you attempt it. Learn how to do real estate before you put your money or someone else's at risk.

My $0.02...

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    Becoming an agent has pluses and minuses.  However I do not think it is something you should worry about doing before your first deal. I think sort of the time it becomes worth being an agent is when you are doing 5+ deals per year. If you are doing 4 or less, it really is not worth the cost, time, and increased regulation you are subject to.

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  • Karima Harris
    OP
    Yonkers, NY · Member since 2015 · 9 posts · 1 vote
    10y

    Thank you for your response Russell Brazil. What are the prerequisites to owning the first rental property? Or does one simply learn as they go? How did you land your first deal?

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  • Account Closed
    Lender · Salt Lake City, UT · Member since 2012 · 714 posts · 169 votes
    10y

    It is not necessary to become an agent. How are you financing your purchases? All cash or loans?

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  • David Dachtera
    Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
    10y
    Originally posted by @Karima Harris:

    Thank you for your response Russell Brazil. What are the prerequisites to owning the first rental property? Or does one simply learn as they go? How did you land your first deal?

    My advice is to learn HOW to do something before you attempt it. Learn how to do real estate before you put your money or someone else's at risk.

    My $0.02...

    1Reply
  • Karima Harris
    OP
    Yonkers, NY · Member since 2015 · 9 posts · 1 vote
    10y

    David Dachtera thanks for your input. I totally agree, and that's why I joined Bigger Pockets--to learn from experienced investors such as yourself (in addition to my personal studies and research). As you know didactics is great but experience is the best teacher. BTW read your profile- the detail is encouraging.

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  • Tim Lindstrom
    Investor · Douglasville, GA · Member since 2014 · 313 posts · 181 votes
    10y

    @Karima Harris Listen to all the podcasts, and read the ultimate beginners guide.  Both are available in the education drop down on this sight.  After that you should have a good idea of what kind of investor you want to be, and have a general idea of how to go about it.  Then come back here and ask specific questions.

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  • Karima Harris
    OP
    Yonkers, NY · Member since 2015 · 9 posts · 1 vote
    10y

    Thank you @Tim Lindstrom.

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  • Elizabeth Colegrove
    Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    10y

    I actually enjoy not being a real estate agent. I get to capitalize on my realtor information, connection and years of experience. While focusing on my craft, buy and hold real estate.

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