Networking & Licensing

[Lisa Borowy]

I’m just getting started. I happen to own two investment properties but would not say I’m an investor. I have a lot to learn.

1. What is the best way to find other people that are investing in my area that might want to work with me? Meet-up Group, etc. Is this a helpful step to take?

2. is it wise to get a real estate license myself so I can find my own properties or better to find a realtor that is experienced working with investors?

Thank you in advance.

[Chace Fraser]

Hi @Lisa Borowy, Welcome to BiggerPockets! BP is a great place to find people, both virtually and in real life, who are doing the type of investing you are looking to do. You can find local meetups in your area by going to Network>Events up in the menu bar. I’ve found that people in the BP community are incredibly friendly and willing to help.

The answer to whether or not you should get your real estate license is “it depends”. It depends on how many transactions you will do per year. You’ll likely need to do at least 3 per year to make it worth it. Also, did you know that 85 percent of people who get their license are no longer in the business the following year?

Also, another question you need to ask yourself is do you have the time to get your license? It could take up to 100-150 HOURS of study before you’re allowed to take the test! And if you’re only going to have it so you can save a couple bucks here and there it’s probably not worth it.

Pros to having your license. MLS access and being able to roll your commissions into purchases. Experience in transactional real estate.

Cons to having your license. Fees, fees, fees and more fees! Realtor Association fees, MLS dues, brokerage fees. The learning curve is pretty steep and can be stressful. Continuing education requirements, etc.

Best of luck!