Should I obtain my real estate license in New York or New Jersey?

[Michael Peralta]

I haven't conducted my first deal yet but, I am looking for ways to increase my monthly income. I have the idea of obtaining my real estate license in New York or New Jersey to work part-time as a real estate agent. Since I am a newbie investor, I wanted to get your thoughts on the questions below:

• 1 - Should I obtain my real estate license in New York or New Jersey?  
• 2- Is it worth it to obtain my real estate license since I'll be working part-time only?
• 3 - Is there any common side jobs you see among other investors?

Thank you in advance BP Nation,

- Michael

[Michael Lee]

Hey @Michael Peralta 

Welcome to BP! 

If you are fully committed to real estate and is obsessed and curious about everything real estate, get the license.

I believe to be a successful real estate investor, we need to have the investor mentality. Warren buffet said, the more you learn, the more you earn. For me, I am never afraid of learning or spending time on improving myself. 

What's the down side? Spending some money and time? I say if you can spare some time and some money, definitely go for it, no question about it. Worst that will happen is you don't use your license. But the upside is huge - you opened up doors to new opportunities in the industry you will be investing in - for the rest of your life ( if you plan on investing in real estate for the rest of your life) and new skills in real estate. By doing it you learn how transactions work. You'll see things with a different set of eyes, from the brokers eyes, from buyers and sellers eyes, etc. Oh and it builds trust for sellers of your investment deals as well. 

As to the question to NY or NJ, it depends on where you plan to invest in. I dont think its a good idea to invest in NJ and get a NY license (unless you want to do both, then get both :) )

Hope this insight is useful, good luck!

- Michael Lee