Are you confused by this whole “investing in real estate” thing?
Is being a realtor the first thing that comes to mind?
Then this article is for you.
A real estate salesperson is a noble profession that helps consumers and investors facilitate the complicated, often cumbersome process of buying and selling real estate.
Becoming a realtor is a great way to learn how the business works and a lingo.
Being a realtor, however, will not automatically prepare you to become a competent and efficient investor. If leveraged properly, a real estate license can be an asset. Be warned though, if poorly managed, the license will only be a distraction to your actual goal of owning property and generating cash flow.
Do I need to become a realtor to invest in real estate?
Yes – if you want the information curated in a traditional educational setting. Just a tool in your tool belt.
No– you are a go-giver and are not afraid to go learn what you need off the grid.
We suggest getting started, see what you naturally gravitate to. If you find out that you really like buying/selling property and want to help other people do the same, then get your license.
If not, then pay a realtor when you need one and go make the big money as an investor.
It’s up to you to discover and learn what does it actually mean to be a realtor?
Listing what the pros and cons of becoming a realtor will also benefit your insights. Consider creating a real estate investing business plan using a license as a strategy.
If I choose to become a realtor how can I leverage this experience to investing?
- Don’t focus on first time homebuyers
- Pitch yourself as an investment realtor
- Develop your list of contacts in banking, lending, construction
- Save your commission income to purchase your investment
- Get access to the MLS and learn how to search and find deals
- Education education education!
- Understand how the real estate buying and selling transaction works both with cash and mortgages
- Get training from your brokerage on sales and business
- Do bigger deals and put your commission up as equity in the deal
- Builds credibility
- You can wholesale without any problem
- Leverage your clients contacts (bankers, insurance brokers, etc)