Liscense Or Not
Fellow Investors
Would it be a good idea to get a Real Estate liscense to have an upper hand in REI ??
Any inputs are greatly appreciated 8-)
Fellow Investors
Would it be a good idea to get a Real Estate liscense to have an upper hand in REI ??
Any inputs are greatly appreciated 8-)
I think so, yes. It wil give you access to a conventional income.. and information that you can use to exploit once you learn the ins and outs.
The upside of getting a license besides commission income is market information that you can use to help you invest. I find in my area many real estate agents do not invest in real estate; they seem to invest their commissions in an expensive car and clothing. Lately with the hot market some are doing some flipping but not as much investing as you might think. The downside with having a real estate license is that you must disclose to every buyer,seller and tenant that you are a licensed real estate agent. Some people might think they are not getting as good of a deal when dealing with a real estate agent as when dealing with an "amature".
Jose71
This type of question comes up often on the forum and the students that I teach REI to as well.
It is simply a matter of choice!
The choice has its upsides and downsides as has been posted here on your post and throughout TCI.
Becoming licensed as an investor can cause problems if you plan to utilize creative investing strategies discussed on this forum but for out right cash purchases it should cause no problems. Understand as a licensed investor you have many governing bodies that will dictate what you can and can not due based upon their own belief of rules and regulations.
I personally have not seen the need to become a licensed agent, as the only benefit would be to have direct access to the multi listing system.
Plus I am too independent to allow any 3rd party to tell me what I can and can not do.
[addsig]
I agree with JohnMichael. There are rules for salespeople. For example the "do not call" rule recently enacted to stop phone sales calls. I do not know as a broker if I can even cold call a person facing foreclosure. I have had a real estate sales license since '90. Selling and investing are two different professions. I find this investing site very informative and helpful. I still have a lot to learn about real estate investing that I have never learned by selling houses. When you work full time selling real estate the emphasis is to sell! sell! Sell!, list! list! list!; not to invest. There are only so many hours in the day. If you are doing ok selling it can take away motivation to invest. Still, having a license allows you to know your market. When I started to see more people buying and flipping houses my reaction was; I can do that too! The office, MLS, and licensing fees also add up. There may even be a day when I put my license in escrow.
Thank you for the insight ... I understand if im trying to invest why should i have someone telling me I'm not allowed becaues i have a liscense also people wont be afraid as much... lest see what happens...
I have family in Allentown.... I dont know what area but the family name is Ortiz
Thanks again for the insight