Wholesale or RE license???

14 Replies

Hey guys I am interested in getting into real estate but I don't have much funds to get started. I was looking into wholesaling but wondered if it is a better idea to get my real estate license to get my foot in the door?

Getting you RE license wouldn't hurt, it would however take a year or so and cost around a grand. Also, you would have to make it clear to motivated sellers what your intentions are on their house so it wouldn't be a conflict of interest.

Originally posted by @Chelsea Tustison :

Getting you RE license wouldn't hurt, it would however take a year or so and cost around a grand. Also, you would have to make it clear to motivated sellers what your intentions are on their house so it wouldn't be a conflict of interest.

 @Jerome Turner

Not quite a year :-)  ... 75 hours in new york, most people can do that in a few weeks, full time or 4-6 weeks part time. 

Thanx for the advice everyone. I'm gonna start looking into real estate courses. Any tips on what to research or study before I startthe application process?

@Jerome Turner

Look up the real estate book they currently use for your state. If the course does not come with the book, buy it off ebay or amazon and start reading. I actually found a groupon for my real estate course and got it half off.  Check that out too. Good luck!

Must be different in different states. I was only estimating based on 2 months per course, and you must complete 4 courses and then take the test in Sacramento whenever it's scheduled for. A RE license will of course come in handy, for access to the MLS

Originally posted by @Chelsea Tustison :

Getting you RE license wouldn't hurt, it would however take a year or so and cost around a grand. Also, you would have to make it clear to motivated sellers what your intentions are on their house so it wouldn't be a conflict of interest.

 What a joke.  You have to be in the really, really, really, really, really, really, really slow kids class to take a year to get a real estate license.

Originally posted by @Chelsea Tustison :

Must be different in different states. I was only estimating based on 2 months per course, and you must complete 4 courses and then take the test in Sacramento whenever it's scheduled for. A RE license will of course come in handy, for access to the MLS

 It's 135 hours, total, for all the classes.  You can take them online starting and finishing whenever you like.  And the test is offered every other week.  And has a pass rate of something near 90%.

Half of California has a real estate license.  Presenting it as something difficult to obtain is silly.

How much "wholesaling" can you do for $1000?

@Jerome Turner

Welcome to the site.

Getting your licesne and starting work as an agent and investor is the best course of action.

Hard to go wrong either way. Find your focus, be yourself, out work the competition, and rock it. Simple solution to either way you go. Just know that both paths do require upfront costs and it takes a while to build up some traction. If you send out $1,000 worth of direct mail and don't know how to analyze, negotiate, or close deals then you are going to waste a lot of money. The catch is that the only way you're going to learn is by actually going out and doing it.

I agree with @James Wise , getting your real estate license is a great way to learn the business from the inside out.  But true success will come from your ability to be active, talking to other investors, looking at properties, and seeking a mentor to help guide you through your first few deals.  If you decide to wholesale, co-wholesale with the top local wholesalers so you know how to capture deals and learn the lingo!

Good luck!

Hey guy's!! I took everyone's advice and went and got my online 75 hour real estate license course. Is there any advice anybody wants to give me before I take the actual exam?

Hello Jerome, I have been in the real estate business over 40 years and have seen many a agent to be blow the test because they were not sure of the meaning of some of the words.  If you want to pass the test make sure u know all the vocabulary and exactly what the words mean, because the test will put in sound alike words with different meanings to trick you.  Example assessment vs assignment, etc.  Know the basic math, and if you can find the practice questions and answers on the Internet use that service it will be very helpful.  Good luck it is well worth the time it is a great business

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