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Hello Grinder, It sounds like you want to become a broker. That's what I do. I know where the money is and I help RE investors find the funding for their projects.

Hello, Being a part of your local REI club will be your best investment. Good Luck on your endevors!

Are foreclosures even listed as such on the MLS?
I don't deal with the MLS so I would not be able to answer that. From what I know, foreclosures are listed in the city courthouse.

Will I have ANY advantage being a realtor when approaching banks to discuss or bid on forclosures?
The banks work with buyers and investors. Being a realtor will not have any advantage.

Lastly, do you see any benefits to attending the pre-licensing course simply for the knowledge? Or might I gain the same info from reading the course book or other related publications?
These posts are very informative (and free). Courses will help but they don't teach you everything (that's why they sell you additional courses).

Basically, you will learn more by being involved with RE than reading about it. Have you considered joining a REI club in your area and networking? Now there you will learn much about your area and meet people doing RE.

"My thinking WAS that by being licensed I would have a much better working knowledge of real estate transactions, easier access to property listings, and could market myself to all sellers as a legitimate, knowledgeable professionally licensed business owner. Not to mention the savings on realtor commissions."

With these ideas in mind:

1) working knowledge of real estate-license really not needed

2) easier access to property listings-why become a realtor, to find deals? Deals are everywhere!

3) could market myself to all sellers as a legitimate, knowledgeable professionally licensed business owner-I got scared just reading it. The people you approach, especially when it comes to a foreclosure, will be terrified of you. They will think that you are some "smooth talker" trying to rip them off.

4) not to mention the savings on realtor commisions-sellers pay commisions to realtors, buyer don't. Buyers do their "due diligence" and research the property way before they even make an offer.

To me, it sounds like you would feel safer having a license. But, I still feel that if your not doing financial or actual realtor business, why get a license? It's not needed.

Hello, If you are going to be a true investor, then why do you need a license. If your going to get into the financial or realtor side of RE, then you might want a license.

I would suggest investing for awhile. Then if you find that you want to pursue other avenues of RE, go for your license. Good Luck!

Hello Tom, It would be better to have a project in mind and be able to send a proposal to the lender with all the information. That's how my clients get their projects approved.
Also, I would like to point out that HML ask for cash available, equity in other properties (or your own home) or collateral to secure the loan. Their interest rate and points are higher than traditional. I recommend using a traditional lender first and a HML as a last resort. A private investor funding your project is also a possibility and an option.

Hello Bill, If your interested in being a broker, then I suggest you do the research. If being an appraiser fits for you then do that. The choice is yours. Do what will make you happy. Both make good money.

Hello, Are you doing commercial projects?

Hello, I feel for your situation. My mom had a similar one 25 years ago. Here's what she did: Sold everything and moved to Texas.
Here's what happened: She raised her 2 boys, myself and my brother, in Dallas. She found work and an apt. and made it here in Dallas.
Texas has the opportunity that your looking for. Rehabs are everywhere, work is everywhere. What do you do, what type of occupation?
RE clubs are here. Investors are here. As you have said, you have no family so why stay. Texas is full of friendly, helpful people.
What would you have to lose. Start a new life. We came down from NY. Now it is your turn. I would be happy to help you anyway I can.

Hello, My clients tell me that commercial properties have better value and better cashflow. Also, that million dollar lenders realize that value and are more willing to work with commercial investors.