Do I need to be a realtor?

Question

How many people got their real state license when they first start getting into real state investing? I know it will help but is it a must? Thank you all.

Pete Silan · Answer

@Charlie Cameron

Great advice. Thank you very much.

David Avery · Answer

Hey Pete,  Keep in mind the seller pays the comish !!!

If your not going to sell your properties for a while i would not get a RE L.

Need to make about $3500 a year to keep it active, etc.

I love a great agent that knows my needs and will earn that comish!!!!

Don't get one unless your going to pay the price to really make money in it.

Just for your deals, No don't do it!!!!

Don't be another part time agent!!!

And vote

Pete Silan · Answer

@Bob Okenwa

Thank you.

Charlie Cameron · Answer

@Pete Silan if you plan to do local investing it is just another way to get paid to learn about real estate.  Plus you get a TON of added advantages and can move faster as your own buyer's agent.  Listings will get you additional business too and you may find yourself with a decent side hustle before you know it.  I'd say if you're starting out and don't have the cash to invest, it may be worthwhile to build up cash faster and pocket more when you do buy your first investment properties.

BUT - you certainly don't need a license to invest, just an investor friendly agent. I started as an investor and THEN got licensed.

Bob Okenwa · Answer

Depends on what you're trying to do with real estate. It isn't a must, but can save time and money depending on your type of investment.

Pete Silan · Answer

@Aaron K.

Thank you very much for the input. I have a w2 job and my option is just doing partnership/ investing. You made a valid point.

Pete Silan · Answer

@David M.

Thank you for your reply. That’s a really good information.

David M. · Answer

@Pete Silan

While there are benefits to the license, the real deals are to be found off-market.  Also, the license generally costs $2k-$4k to maintain every year active.  So, you need to do at least a transaction a year (depending on the price point and your split with your broker) to break even dollar-wise.

Aaron K. · Answer

Certainly not a must, it really helps most if you are investing locally, already know the area and plan on conducting more than 1 transaction per year.  If you don't meet those criteria it probably isn't worth it.