Should Real Estate Investors Get a Real Estate License?
ฝัง
- เผยแพร่เมื่อ 14 ก.ค. 2024
- Are you interested in getting involved in real estate investing and wondering whether or not you should get a real estate license? If I've just described you, then stick around as I share with you the two most important considerations that you need to help determine whether or not you should get (or need) a real estate license.
Short on time? Feel free to use the chapter links below to skip ahead in today's video to the section that interests you the most!
00:00 Introduction
00:44 Should You Get A Real Estate License?
00:54 What is Your Real Estate Investing Strategy?
03:09 Do Real Estate Agents Learn About Investing?
05:44 What Would I Do?
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I just had this conversation with my property manager TODAY.
Because I live about 75 miles from the area where I have been buying most of my rental houses, sometimes it's not easy to connect with my usual agent to get inside a new listing for a fast look-around. With the market still roaring along here in Florida, I missed on potentially purchasing a property a few weeks back because I wasn't able to see it right away, and somebody put in an offer immediately and the property went under contract. If I had a license, I could look at any house I want because I'd have the lockbox codes.
Of course, if I had a license, I could conceivably get a 3% rebate (or negotiate a 3% discount) for my half of the realtor fees on every house I purchase, but since that comes out of the seller's end, it has not been a huge issue to this point. For those buying multiple properties per year (more than one), it's probably worth taking the realtor classes, which are not expensive and only take a few weeks to complete.
Ali, just for some context on the cost of staying active as a licensed realtor, what do you pay annually in fees to keep your realtors license active, both for membership dues, annual renewal, city/county/state fees and such? Does it vary from state to state. Where are you licensed, in SoCal?
great points- to get the license or not to get the license! Everyone situation may be different, so like you point out how it could help you, but ehh, is it worth it, etc. Yeah, mines in SoCal. The only thing I pay is to renew it every...4 years I think? And it's very minimal, maybe a couple hundred? And then I pay my broker a straight 10% of each check and that's it. But I'm in a different situation than most- I don't need MLS access or access to any normal agent stuff. If I did, that's where the monthly fee would come in and make the difference. My recommendation for that would be to find a small mom & pop brokerage, or maybe even an online brokerage, as they'd probably have the lowest monthly fees for whatever specifically you need. Keller Williams, for example, has super-high fees but their services are worth it....for normal agents. Just as an investor, you don't need all the bells and whistles. So I'd call/interview around and see what all the smaller brokerages would want to charge you. MLS access is MLS access, no difference in quality between brokerages just for that. And then ask how much of each commish they keep too, as that plays into the fees conversation.
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@@AliBooneInvest is it possible to dive in this business if I do have some cash for down payment but I’m not sure that I can get loan from bank?
absolutely! One of the biggest cruxes of REI is creativity. If everyone had plenty of money and could get all the loans, it'd be much easier to do REI. But most of us don't start with that much, so it comes down to problem solving and creativity. One of my early mentors taught me something that changed me forever and I still think about all the time... "Never ask IF you can do something. Ask HOW you can do it." Changed everything for me!