Hello Learned Friends:
I'm passed my Real Estate Agent License in May 2017 for the State of Michigan and I'm not currently affiliated with any Real Estate Broker.
Without a doubt the class, the test was my way of introduction and foray into real estate and will never regret that decision. However, I have a day job as an independent consultant and don't aspire for another job as a Real Estate Agent.
Goal: Is to invest in Notes personally, create and broker Notes.
Given my Goal are there PRO's and CONS with having a Real Estate License?
Can you please state and elaborate Why? are you for and Why? are you against.
Can you also State in your response if you are a Real Estate Agent/Broker?
Appreciate, all responses in advance.
@Kishore P. I would say it depends. If you looking to invest in notes in your local area, having your license may be a benefit as you will be able to pull comps quickly. This can be done without your license as well. If your looking for notes in another state, I don't see an advantage to having your license.
Why type of notes are you looking for? I'm looking for performing note investors all the time for our properties.
I got my license because the guy who got me into notes encouraged me to and said it would help. He had a real estate license as well. However, having a license didn't help me a lick. So like @Jeff Wallenius says if you are buying local, it could be beneficial. Otherwise, you don't really need one.
I am a Realtor and also a note investor. Personally the only reason having a license has helped me is through NARRPR which is a Nar Resource for Realtors that allows you to view statistics about any home in the USA. This is helpful to me as it is more accurate than Zillow or Realtor. It allows me to pull comps, verify county information, see PID numbers and tax information. This is about the only PRO I would say to why I like having my license but in general it really doesn't have too much of a hand in my note business.
All of you have validated my initial impressions. I'm new to the Notes thing.
Have quite a bit of way to go. Currently looking to learn about partials on Performing 1st in Non-Judicial Foreclosure States, starting with the home State of Michigan.
I hope to be in touch with all of you.
Hello everyone, I am new to Investing in Notes and I don’t know where to get started. I am looking for all the advice and guidance I can get. Can someone please point me in the right direction. Thanks.
@Cromwell O. Downs there are numerous books out there. Martin Saenz has a book called Note Investing Made Easier as well as an active Facebook page. David Van Horn just came out with a book and google Scott Carson. He has a daily podcast and tons of content online. Hours and hours.
Hope that helps. I’m in Broward by the way so you can always reach out to me but the above mentioned names are far more qualified.