Is It Wise to Get My Real Estate License When I Turn 18?

[John Gamble]

I hope this post finds you well. The other day while listening to a podcast regarding all things finance, the guest (Robert Kiyosaki), advised against getting a real estate license. Before I continue, for context, it is my goal to invest in commercial real estate (preferably larger apartment complexes). However, I will presumably be obliged to start with something smaller (perhaps an FHA loan on a four plex and 1031 myself up from there). The idea of buy and hold has always been of interest. I simply love the idea of long-term wealth and cash-flow. Now, for the past 3 months I have pondered over whether or not it is imperative that I get my real estate license… This thought has consumed me. I'm 16 years old and it was my plan to get my license as soon as I turn 18. However, after further consideration, I am starting to have doubts. Whilst reading Brandon Turner's book on rental property investing, he disclosed the Pros and Cons of having a license. After reading Mr. Turner's description, having a real estate license seems like a lot of work, which isn't the problem. But considering the fact that I want to focus down on rental property investing and possibly defer my taxes by using a 1031 exchange, a license doesn't sound as good as it used to. In fact, the only reason I wanted the license was to remove the typical 6 percent you have to pay when selling a home (but because I am planning on never selling my rentals, unless it seems like the ideal situation, I'm starting to loose interest in obtaining my license). In addition, the ability to search the MLS was a big PRO for me. But now I'm starting to wonder if the MLS is really as good as people make it sound. I understand that having a license is not required to be a successful investor. After further thought, it seems that a license isn't worth my time and energy (it won't give me the most bang for my buck due to the niche I am considering), however, perhaps you could shed some light on the fact and give me some wisdom. Thanks!

[Bruce Woodruff]

Quote from @Katelyn Andrews:

If you plan to go all in purchasing a lot of properties, I think that it is definitely not a bad idea.

Why? What advantage does it give him? BTW I have had a RE license. Now I don't. But I can go and offer a seller their purchase price minus 2-3% because I am not bringing in a Buyers Agent.

The MLS is no better and often worse than the commercial RR sites, in my recent experience.