Is a Real Estate Agent course helpful to my education?

Question

I'm just starting (haven't done a deal yet) and want to learn the important details to avoid major mistakes. I know "experience is the best teacher" and the key is ACTION!, but I don't have deals or time to burn unnecessarily. I'm networking on BP and sharing my plans with others while hoping to organically develop a relationship that will turn into a mentorship. I know I can do this, I just need to get a feel for the game and I'll be off and running.

Will taking a real estate agent course speed up my learning curve? If yes, any suggestions in the Philadelphia area?

If no, why?

Finally, I'm open to any all suggestions, connections, and input that will be helpful in my journey.

...thx BP

Will taking a real estate agent course speed up my learning curve? If yes, any suggestions in the Philadelphia area?

If no, why?

Finally, I'm open to any all suggestions, connections, and input that will be helpful in my journey.

...thx BP

Obed H. Bey · Answer

@Shazia Chiu awesome. Thanks so much. I'm doing some but not all. I've found engaging folks directly has helped in a big way. Finding a mentor would be great!. It's my understanding that asking someone directly to mentor you is somewhat frowned upon and that it should happen organically. How would you suggest I find my mentor? I know she or he is out there just not sure how to go about it.

Obed H. Bey · Answer

Thank you. I appreciate you taking the time.

Shazia Chiu · Answer

@Obed H. Bey I think that talking to people is a great way to get started! You can learn so much just from interacting with others and asking about their experiences.

In regards to asking someone directly to be your mentor: I imagine some people get bothered by that, but I think that's kind of silly. Chances are that the people who have made it big had a mentor or two at some point in their journey! I do think that you need to build a relationship with someone you admire before bringing up a mentorship. Additionally, it's good to see if there's a way you can add value--say that you want a wholesaling mentor; maybe you'd offer to help them send mailers, to assist them in communicating with potential buyers/sellers, etc. That's just an example, but the idea is to provide value in exchange for their insight.

I'd start by attending meetups in your area and socializing with active investors. That alone can get you quite far!

Shazia Chiu · Answer

Hey @Obed H. Bey, I think the answer depends on what you want to accomplish. There are costs associated with becoming an agent and maintaining your license. They aren't large costs, but I wouldn't want to pay those fees if I was just wanting more knowledge about investing. To speed up your learning curve I'd consider:

• Joining local investing meetups
• Finding a knowledgeable, investment-savvy agent to help you do your first deal
• Finding a mentor and proposing a way to add value to their business in exchange for their mentorship
• Reading books, articles and reports to help you better understand investing in general/your local market

I'm imagine you're doing some of these things already, which is great. In my opinion the real estate licensing course was good for learning some of the procedural and legal aspects of real estate, but its value ended there for me.

Good luck on your journey!

Obed H. Bey · Answer

By the way a mortgage broker was recommended because they have access to various resources and might be able to point me in the direction of a lender (s) sensitive to my situation.

Obed H. Bey · Answer

@Benjamin Seibert thanks so much for the input. Makes a lot of sense. Appreciate you.

Benjamin Seibert · Answer

Hey @Obed H. Bey it just depends on your goals. Becoming a realtor can definitely help in networking and learning about markets; however, you don't need to be a realtor to be a successful investor. I would recommend reading a few books first and listening to various BP podcasts (some about investors who are agents and some who aren't). Some books I'd recommend include Millionaire RE Investor and any of the BiggerPockets published books. The realtor course are costly and take time. If you don't end up using it enough to your advantage then it wouldn't be worth it. Hope all works out in your investing journey.