What is the benefit of having a real estate license as a landlord and investor?
Mls Access, being able to pull comps, access to tax cards immediately where you can see a lot about the house and most recent mortgage history. you can pull expired listings, absentee owners in and out of state. You can see the for sale by owners that have sold. You can list your own properties and save 1.5-2% of commission on a sale. You can also get paid for having other investors use you as a buyer or a seller.
Downside: yearly fees that are fairly expensive if you have little money, YOU HAVE TO DISCLOSE EVERYTHING, trying to find an investor friendly broker to affiliate with. You now carry liability.
I think the biggest benefits from getting a real estate license would be the fact that you have direct access to the MLS where you can pull data for comps for yourself. and you don't have to wait for a real estate agent to show you houses. So you're able to see as many houses as you would like on your own schedule.
I'm just starting out in the investing world and plan on getting my license within the next few months.
I've been an investor for 9 years and just finally decided to go for it. Now I'm in these classes and learning about all the requirements and liabilities and all that good stuff. Tries to scare you away, but there will always be risk if you try to do anything great! (or anything at all for that matter, or try doing nothing, that's also a risky move)
It has been a very interesting experience at this stage of my business because I'm learning about stuff in class that I literally dealt with first hand that same day. I'm finding it very useful to learn all this stuff that I already knew or kinda knew and now I'm getting the whole story or the full details or the, "so THAT'S why that is like that."
While it's not necessary, I think it is going to prove to be a beneficial decision.
Thank everyone for the responses, especially the upside and the downside from Devon. It looks like MLS access is the most beneficial.
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