Good Morning BP!
It's a great day in Colorado with a low of 10...Anyway on to my request for advice. My wife and I finally put both feet into this and have started the ball rolling (although down a very small hill..more like a bump). I want to start out full steam as an investor but my wife would like to get her brokers license first. Is there a downside to this or would this help make our team stronger? I also thought about becoming a broker myself after the military but is one license enough?
J Scott and his wife are in a similar setup and he mentions in his book on Flipping (available here on BiggerPockets!) that it helps them out because she can handle the buying and selling transactions for them. You might want to listen to the BP Podcast 10 and see if they mention anything about it there. I haven't listened to that one yet since I am a buy and hold investor and mostly got his book for info when doing rehabs.
Thanks for the input I will be checking out J Scott.
I am the investor half of an investor/broker marriage. I think one license is enough, but without a doubt its a HUGE benefit. I actually have a bunch of videos where I give great examples of why that is so useful on our website.
I can't really think of any drawbacks... I know that seems to be the CW, that being licensed makes investing harder, but I believe that nothing could be further than the truth.
If you market for motivated sellers, it will give you a competitive edge to not have to screen them on the phone, but just make an appointment and go! Since you can list the property, you have everything to offer the seller... the creative AND the traditional.
If you go without a license, it is my opinion that you are leaving significant money on the table.
Good luck and happy investing!
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