Should I become an Agent to be a successful investor in Illinois?

Question

I am just starting off in my real estate education and i would like to know whether or not it is a good idea to become a real estate agent in order to become successful in Illinois near the Chicago Suburbs. I am planning on studying urban planning/development so I would really like to become successful in the real estate investing world. I am open to any suggestions or feedback with your experiences in the area. Thanks!

John Warren · Answer

@Ulysses Pagan I am going to be the counterpoint here to some of the other people who have chimed in. Having the RE license will cost you under 2k per year, and the ongoing requirements are not that bad. I started out thinking I would just represent myself on the side, and now I have a real estate team and a full time business that I love selling millions of dollars of volume monthly. If you end up hating the license you can always drop it later on. If you leave the business for a while, you can hang your license with a holding company for a minimal cost. You get access to the MLS, which does have some good data (although it is a dinosaur in terms of usability).

Tyler Gibson · Answer

@Ulysses Pagan MY suggestion whenever I see this question is, only get your license if you actually want to sell real estate and want to be an agent. Otherwise, it is expensive just to have a license. Find a Realtor you like that you can partner with to help you find an analyze properties.

John Warren · Answer

@Earl Crawford Jr the western suburbs of Chicago are very single family and town house heavy when it comes to inventory if you are looking in towns you mentioned like Romeoville, Bollingbrook or Naperville. These are very stable areas where you won't see as much cash flow. With that being said, if you can find a good SFR in an area like Naperville then you will always have fantastic renters available. If you want multifamily, then you have to move either closer to the city (East of 294) or further towards Aurora.

John Warren · Answer

@Ulysses Pagan it is cool that you went through this exercise. If you need info from the MLS in the future, always feel free to reach out. My team has done several deals in Naperville this year, and we are always happy to help.

Jonathan Klemm · Answer

@Ulysses Pagan - My suggestion would be yes.

That's what I did and if nothing else it was worth it for the education, but I also love the ability to see houses whenever I want and have access to the MLS. I don't do a lot of actual real estate agent work though.

Studying Urbana PLanning definitely goes hand in hand with real estate investing. Where are you going to school?

Shawn Regnier · Answer

Agree with @Tyler Gibson, the fees add up, in a big way. If you're ready to grind it out, and work on your sphere, sure. If you're just looking for an edge in finding properties, I wouldn't bother. Create relations with other investors and professionals in the industry, instead.

Earl C. · Answer

@Ulysses Pagan and @John Warren I am very interested in that area. I live in the Bay Area, California though. I am open to insight and ideas. (I have family in Romeoville and Bolingbrook.)

Have a great day.

Ulysses Pagan · Answer

Thank you John, much appreciated! I will definitely reach out If anything.

Ulysses Pagan · Answer

Thank you all for your input! I've decided to learn more about investing without becoming an agent but definitely having some real estate friendly agents on the team. Thanks again!

Should I become an Agent to be a successful investor in Illinois?

Should I become an Agent to be a successful investor in Illinois?

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