Newbie investor in North Carolina. Real Estate License?

Question

Hi everyone! I'm a newbie looking into investing in the Raleigh/Durham area. Just wanna ask, would those that are familiar with investing in the state recommend getting a Real Estate License? Any pros and cons of getting the license would be greatly appreciated. Thanks in advance!

Dawn Brenengen · Answer

@Christian Sidaros Welcome to BP! Getting a license can definitely be helpful, but only if you are going to use it heavily.  If you do 1-2 deals/year, then it's probably not worth the time or expense.  I would probably get started in investing first, and then I would see if it makes sense to invest in a license.

Russell Holmes · Answer

@Christian Sidaros welcome to Bigger Pockets!  The answer to your question is 'it depends'.

Do you already have the capital to begin investing, have a job you enjoy, and only seek the knowledge to get started on your investment journey?  If yes, getting a license, in and of itself, may not benefit your journey. Instead, finding local meetups, networking with Realtors, lenders, investors, contractors, etc can have every benefit you'll need.

If you do not have the capital to invest, and/or don't like your current job, and you are interested in the Real Estate career path, getting licensed can be great. You can learn a ton about the industry and get an immense amount of investment and property knowledge all before you've done a deal of your own.

I got licensed because of my interest in real estate and my desire for a real estate focused career change. My goal from the start was to someday build a portfolio of cash flowing rentals, but my path before real estate hadn't got me there in 10 years and I was hungry to jump in and get to work learning everything I could in Real Estate.  I was running a local service business I started over a decade before, I lacked the capital to invest thanks to a costly divorce, and I wanted to learn and grow as a Realtor.  I love the transaction side of the business AND the investment prospects.  I've met and connected with so many investors and vendors that I never would have met without being a Realtor.  I've struck up a JV partnership with an early client, having our first flip on the market currently. I find and negotiate deals for investors that have no need for me as a partner, but I get to be hands on in their deals and learn from their thought process by being their Realtor.  My only regret is that I didn't get licensed sooner.  But I love this as a career so it was a natural step.  I aim to do more investment deals and build more partnerships in time and maybe someday I'll phase out of the transactional side of the business altogether when I'm busy with building my own portfolio only.

But being a Realtor is not an easy path to wealth nor an easy path to a first investment.  It is very much running a business in the real estate industry and it is something that many folks who 'give it a shot' bail from before seeing any significant success. It is self employment that can make anywhere from nothing to hundreds of thousands per year.  It ties in well with investing when you've got an interest in both, but there are plenty of Realtors who don't invest and plenty of investors who aren't licensed.

For me, the two go together extremely well and I'm happy I got licensed. I know several investors who had licenses previously and intentionally let them lapse as it wasn't for them.

Christian Sidaros · Answer

@Dustin Lauer

Thanks Dustin! I appreciate the invite. Ill be there for sure. See you then

Christian Sidaros · Answer

@Russell Holmes

Wow! Thank you for the response. Lots of great info here, I really appreciate it! So I’m looking to invest on the side for now and hope to build my portfolio up. I just figured getting my license would be useful in terms of access to MLS and what not. Thanks again for the response! Definitely given me a lot to think about

Dustin Lauer · Answer

@Christian Sidaros that is awesome dude.  what size t-shirt are you?  I'll bring you a FidusFi shirt for having that kind of commitment to further your real estate education and take action right away like that.  Send me a message or email if you can.

Dustin Lauer · Answer

@Christian Sidaros Necessary, probably not, but I think it's worth getting.  It won't take you too long and it can only help.

Also, I'll be at the Triangle REIA this coming Tuesday. https://www.treia.com/  you should come say hello.  I live and work out of Orlando, FL but travel the U.S. to meet with landlords, builders, flippers and all kinds of investors.  I have worked with hundreds of new investors and I'd be glad to give you any pointers I can for your scenario.

Christian Sidaros · Answer

@Dawn Brenengen

Hi Dawn thanks for the response! I am definitely looking to use it heavily and just feel like with how hot the market in raleigh is, having access to MLS cant hurt.

Newbie investor in North Carolina. Real Estate License?

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