All Forum Posts by: Bobby Clifford

Hello, I was curious if it would be beneficial for me to make efforts to qualify as a real estate professional for tax purposes. I am currently a stay at home dad but have the option to return to work at my previous profession anytime. ( which pays around 33k a year ) My spouse makes a considerable amount of money. (over 150k) I am curious if becoming a real estate agent would benefit us once we begin acquiring properties for rental purposes or would simply returning to my previous job be the better option once I'm done with the stay at home dad job. I know it will depend.. of course.. but if faced with the same choices which would tax professionals see as the better option. Thank you!!

Thank you Brent Zande and Eric for your responses. They have both been educational and from a position I can appreciate. The start up costs aren't a major concern at all. I was planning on doing the weekend program in Hickory. Are the post license classes offered on the weekends as well? Hmm. So, if I own a property and want to sell it, I can't simply list it? What about posting on this site or would they consider that to be marketing as well? What about local real estate meetings? I am almost leaning toward waiting on the license and purchasing a few properties first. If I'm buying, it's free to have a buyers agent if it's listed in the MLS in most cases. I am having a hard time not having complete control of going to see a property without having someone babysit me. Also, I haven't met the right people who can help me make informed decisions when purchasing my first few.. I understand the numbers by using the calculators here on the site but I am not sure about local geographical locations that might hurt the investments performance. ( I am originally from Hendersonville 2 hours away.) Of course, almost all of that could be mitigated by getting a local investor friendly agent which sounds like the most logical choice to make this early in the game.

My main motivations for getting my license is learning laws relating to Real Estate, access to MLS, access to properties without needing to wait for or bother an agent, the training I would receive for contract writing.. also steps preparing for closing etc. Also, I believe because I would have better access to properties I can figure out the local market better. I also think I could be an investor friendly agent for other investors. I have joined two of my local Real Estate groups and I am reading every book I can get my hands on relating to building a real state portfolio and making that my business. The agent portion would simply be a means to aid me in my overall goals. For me, I won't have rookieitis for any job, which, no offense was a vibe I got from the first person who responded. He seemed overly zealous about his job ( which is fine, but, not for me any job is just that a job). When I began law enforcement and learned years ago that I am simply a body in any job. I am not personally essential to any profession or job. The world keeps turning. Every job I have left has been quickly filled by the next guy or girl. I'm blessed with a spouse who makes enough money for us to live without any income from me and still have enough for investment purposes, which, is why I am not too motivated to hustle as an agent. If I needed money I'd return to my previous LEO job tomorrow as I am still sworn and there are always vacancies but I am not looking for a job. I am looking for pathway to wealth and knowledge. Something real that I can pass on to my children and ensure that they, or their future children, will never have to endure the hardships of my childhood. Thank you all so much for your time. The guidance really means a lot and any advise is welcome.

I am seriously considering getting my license for the obvious benefits.. however, I am not so much interested in being a full time agent for just anyone. Mainly close friends, family and for my own benefit as an investor. I am curious what most brokers require of their agents. I quit my full time job in law enforcement last February to raise my children. ( 2 under 2.. daycare cost nearly as much as my salary. ) I am not looking to commit a ton of time to the real estate agency because I want and need to be with my children. With all of my personal interests and requirements do you think it would still be worth my time to get my license? I am within a year of being in position to begin purchasing and long term holding my investment properties. Thank you for your time!

I have the same name as the guy above pretty cool!

I believe I heard on the podcast you can purchase up to 4 units with a traditional mortgage. If this is your first home ( or don't have another First home buyers mortgage right now ) you might be able to find a 0% down lender for a first home buyers mortgage. If not, this is a podcast that touches on your situation. They talk about their lender on the video and it seems like a great deal. https://youtu.be/TFaGdvJ-4WY

Thanks for the advice! We believe you are probably right on the choice. Now to find a good deal!

Hello, this is my first post! I am seeking advice on which direction I should go. I am quitting my day job to stay home with our children and my wife is going to continue to work. She makes enough money to sustain us without feeling much loss without my income. We are planning on investing in real estate as my new profession and aren't sure which direction is the smarter choice. We have enough down payment for a 200k mortgage.

We want to have a beach house in the Charleston SC or Savannah GA area for short term rental and for vacations. We live about 4 hours away from there. My wife has a week of vacation every 6 weeks and it would be nice to get out of our primary residence during those weeks.

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Our local rental market is phenomenal. When we relocated to this area we were unable to find any nice rentals for less than 900 a month. We own our own property now. I believe between her contacts and mine we wouldn't have any issues finding respectable people to rent our properties. There are decent homes that need updating in the 80-125k range in our area for sale. 

My long term goal would be to have multiple homes paying each home off with the income of the others. Any advice would be appreciated! Thanks!