How to Make Money in Real Estate Without a License

I am sure I just got a ton of licensed real estate agents’ heart rates up as they read that title and hastily clicked on this blog.

How? Is this legal? Absolutely.

There are a ton of fantastic, inexpensive, unwanted rural land parcels for sale. They are often overlooked and they can be the easiest to buy and flip for profit! After researching multiple real estate forums, I have concluded that the overall concept may be baffling because of its simplicity.

Here is the BEST, most PROFITABLE way (while being 100% legitimate):

1.Find a property.

A free, easy way to find unwanted property is to advertise that you are looking to buy. Try Craigslist. Create an advertisement inviting sellers with XYZ type of property to call you. Have a work, classified ad type of environment? Advertise there. You can even create a Facebook posting to let everyone know you are looking for property. Think outside the box. Someone might have an Aunt Edna that has been trying to get rid of some unwanted land. There are free ways to get your phone ringing with potential acquisitions.

Is that more than you want to do? Buy from a land wholesaler. We are experts at buying undervalued properties and selling below market value so our buyers can turn around and make a great profit.

2.Buy the property.

There is a deed, you take ownership, and the deed is recorded at the appropriate county. If you are buying a property for a few hundred dollars (or a few thousand depending on your budget) it might make more sense to complete the transaction yourself. It is as easy a buying a car when there is only the seller and the buyer and you are paying cash.

This is great news because this means being successful in real estate does not have be hard and you do not have to be licensed if you are only representing yourself.

As an “owner” of a property you are free to market or hold or sell or giveaway your property.

It is yours. You are not representing anyone and most buyers are a little taken-back when they get to speak directly with the owner of the property. I have found that they sincerely appreciate knowing that you are the owner and you can make decisions right “there and then” about an offer. You also may have more insight about the property depending on its history and how long you have owned it.

3.Pay cash for the property.

At any given time we have hundreds of properties in our inventory. We have been buying and selling rural land for over 15 years and never borrowed a dollar.

I have bought property for a little as $100. I often hear people waiting to get started in real estate because they don’t have the money or an investor lined up. I have two things to say about that: First, if you find a great unwanted property for only a few hundred dollars, how can you afford NOT to buy it? And second, if you find an INCREDIBLE deal, an investor is not hard to come by. (Call me!)

4.Market the property.

Gather all the facts and try to anticipate what questions buyers might have about your property and provide all the information in your listing. Create a system that covers what your listing will look like and everywhere you plan to advertise. Places such as eBay, LandWatch, and Postlets have a template for you to fill out so you have guidance as you are creating your listing. (Postlets automatically shares your listing with: Zillow, Trulia, Yahoo, & more.) 

5.Sell the property.

This is it!

You own the property and you can decide how you want to get paid. I still accept checks, bank wires, money orders… I make it easy for my buyers and they appreciate it!

You already have a deed template ready to use when you sell the property. (It’s the one you received when you bought it.) You simply create a new document but now you are the Grantor and your buyer is the Grantee. Once it is signed the property belongs to the new owner and you or your buyer may send it to the appropriate county for recording. Costs vary by county (around $25-75) and takes about 2 weeks for copy to be returned to the new owner.

What about…?

Anyone concerned about title issues? Easy fix, get a title policy. It does not need to be a big deal, we typically obtain on properties over $5,000 and cost is around $450.

Why aren’t more people doing this? I guess it sounds too good to be true and I get it. I still have deals that make me run to the bank to get a check because the deal is that fantastic!

Start with small purchases and build up. Since you are paying cash as you grow, it is okay if a property takes a few weeks or months to sell. Soon you just might be staring at a bank balance of $64,000 from your Sunday, part-time, investment, test, project and THEN you can make your own verdict.