OfflineHas annybody thought about getting their Real Estate licenced and being an agent? This would give you 2 careers in the same field , the other of course being an investor. This would also eliminate the need for a Realtor and having easy access to all MLS listings. The biggest drawback I heard is that this will keep you in an office for most of the day and more difficulty contacting sellers and declaring that you are also a Realtor. Any thoughts here?
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MARTIN
FAILURE IS NOT AN OPTION!
I WILL NOT BE POOR ANYMORE!
Well this is ok if thats what you want to do. But as an agent there are a lot of thins that you cannot do when it comes to real estate where as just being a investor you have no hold backs, You just have to be honest and stay within legal form to stay out of trouble and out of jail. It's not so bad working with a realtor especially once you find a god one. Heck they have to pay all these fees and commissions to brokers and to keep their licences up and to have continued access to the MLS. If they don't sale any houses to make
money to pay all these fees first before they can have money to pay and sustain a living. Not so as an investor. That whats so great about being a investor, No fees, No restraint, No licences, and to can make as money as you want, You set your own salary by how much you learn and ultilize it and how hard you work and how much you invest of your time ,money,knowledge,and sweat.
In my opinion, everybody needs the inital classes to be a sucessful real estate investor. In Ohio, that means 40 hours Principles and Practice, 40 hours RE Law, 20 hours Appraisal, and 20 hours Finance. In this manner, you will at least know the basics about the profession. There are so many things new investors will get in trouble with if they don't understand the basics. And with all due respect, you can't get the knowledge just by reading Dean's books.(Sorry, Dean!) A lot of things in those classes you will probably never use but there are a lot of things that will open your eyes.
As far as actually getting your license, my vote is "no". There are too many instances that disclosing that you are a real estate agent that will hurt your chances of dealing with a seller and/or buyer. The reason is that real estate agents are among the worse perceived group in America as far as trustworthiness. See the link below:
http://www.harrisinteractive.com/vault/Harris-Interactive-Poll-Research-...
The only reason today to be an agent is if you just want to list homes and wait for a sale to earn the commission or be a property manager of other people's property. In today's market, there are too many other way to make money in real estate as the internet has leveled the playing field.
In my opinion, an educated investor will make 5 times the amount of money than a educated real estate agent.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
YOU HAVE AS MUCH FREEDOM AS YOUR BROKER ALLOWS. IF THEY ARE TRADITIONALISTS AND WANT YOU AT YOUR DESK MAKING PHONE CALLS, ETC., IN THIS MARKET YOU'RE GOING TO SUFFER.
IF THEY ALLOW YOU TO HIT THE PAVEMENT, CANVASSING, NETWORKING AND KISSING BABIES, THEN THEY UNDERSTAND THE CHANGING THE CHANGING MARKET THAT YOU HAVE TO ADAPT TO; 90% OF YOUR BIZ SHOULD COME FROM REFERRALS, THE OTHER 10% FROM NEW CLIENTS AND RESOUCES FROM YOUR BROKER. IF YOUR FIRM DOESN'T GET LISTINGS FROM OTHER AGENCIES, SOMETHING IS WRONG. IF YOUR BROKER IS NOT PICKING EXCLUSIVE HOUSE LISTINGS FOR ALL THEIR AGENTS TO FIND CLIENTS FOR, SOMETHING IS WRONG.
BUT YOUR SUCCESS RESTS ON YOU AND YOU ULTIMATELY. YOU SHOULD KNOW ABOUT INVESTORS, LAWYERS, CONTRACTORS AND FELLOW AGENTS, WITH THEIR #'S ABLE TO CALL THEM AT THE DROP OF A DIME.
1. If I become a realtor, can I still run my "We Buy Houses" ads and when owners call me, go in and buy the property for myself to assign. YES YOU CAN, BUT INSTEAD TRY AND GET THE LISTING, BECAUSE YOU CAN CHOSE TO NOT PUT ON MLS AND PROVIDE FIRST TO YOUR INVESTORS. WHEN YOU CONTROL THE LISTING YOU CONTROL THE DEAL. EVEN MORE THAN ASSIGNING.
2. How would you do Assignment of Contract being a realtor? I am very interested in this, as I do see it as having another BIG tool in your belt. SEE #1
3. Would you still do Assignments or what? SEE #1
4. Do you cut your profit margins as a realtor compared to what you could make charging the assignment fee? I HAVE YET TO KNOW OF AN ASSIGNMENT FEE THAT WAS MORE THAN A COMMISSION. NOT SAYING IT CAN'T OR DOESN'T HAPPEN,BUT.....
Thanks
Are there any realtors that are also real estate investors in Ga. in this forum?
Thanks