Least expensive way to get a RE license?

Question

Hello,
I was interested in getting my Florida RE license.  I've talked to some local offices, they quoted me around 500.00 for the course.  My local community college charges around 250.00, but they don't offer night classes and there's an online site that is 300.00, but Im not sure if it's accredited.
If I go to amazon.com, buy the books, take the practice tests and score well, is there a place where I can go to take the test and pass?
I've heard there is some online courses that are 88.00, but I googled it and couldn't find anything.
Thanks in advance for your help

Jason Barnett · Answer

I don't want to / plan to do that because I have a good agent here in OH.  Not to mention that if I were to become a licensed realtor here then I would have extra disclosures to make and I would not be able to buy short sale properties that were brought to me.  In other words: legal problems.  Just the time spent in court alone (regardless of whether I would win my case) is enough to make it worthwhile for me to not be a realtor.

N/A N/A · Answer

juzamjed, believe me Ive tried....here's my dilemma...
I repeat myself AD NAUSEUM to realtors telling them what I want.  Example, there was a foreclosure I was interested in.  I found it on a site that will give you the street, but not the address.   I spent literally half a day calling everybody and his brother to get more info.  I finally found the one person who knew something about it, and I asked if they knew of any others.  
Her response was, only her broker knew of the ones he had listed.  I asked if she knew of anybody else who would get foreclosure listings in her area, she didnt know.  The foreclosure came up for bid, I called her back, no response.  I called the broker, he said to talk to her.  I find out she had been on vacation, and by that time it was too late....
Look, I could write  book...this is just one example.  Basically, if I was privy to the same info that they are, I could do it myself.  A lot of times I'm asked "are you an investor" and when I reply yes, it's almost like they want somebody who will buy a house after they've seen half a dozen, and will pay full price.
If there are hassles/fees, can it be any more expensive buying 300k worth or real estate to give somebody else the comission?  Having to make a zillion calls to find one realtor who can tell me about all the REOS/foreclosures that I can't find on the web?  If I could, I would...but it's like pulling teeth....
Now, if YOU know somebody who covers Fl, GA, AL, and MS, or one in each state, Id like to talk to them....
In the meantime, let me ask everybody this....
As investors yourself, why not cut out the middleman, get your own license, put in the year or two experience required by your state, get your broker's license, and sell them to yourself?  I looked at the fees for Realtors/Brokers, and from what I can tell, it's a lot cheaper than 5% of the 300ks' worth of properties I bought this year, not to mention previous years.
Wouldn't it be easier to do that, especially if you do your own research, and you can add the commision saved to your bottom line?

N/A N/A · Answer

Okay, thnx juzamjedi...
Ray Washington had also spoke about the liability issues when it comes to scooping up a deal thru the conventional market.
Can you tell me exactly what you mean by a short sale?
Also, and I had asked this question in another thread....
Let's say I bought a HUD property after the one week waiting period, when investor bidding is allowed, and the winning bid is first come/first served.
HUD pays the broker 5 percent.....If I was a broker, placed my own bid during this time, HUD is recieving their money at their price, there was a full week beforehand where owner occupants could bid on it, and some other broker would get the 5 percent commision anyway...  
Would there be a liability issue then?
Also, on an REO, where it's a sealed bid, I could see how the listing broker could get in trouble, since they know the bid amounts before the last day.
If they put in their own bid at 1.00 more than the highest bid, I could see the problem there.
But if I put in my own bid, not having that info, won the bid fair and square, and split the commision with the listing broker, is there a liability issue then?

Jason Barnett · Answer

Have you considered talking to a realtor in your area that actually INVESTS in real estate?  If not then do so immediately for 2 reasons:

1.  These people already do what it is that you're hoping to do; they search for cash rich deals on the MLS and know what you're looking for.
2.  They can tell you about all of the added headaches / liability that goes along with having the license while doing RE investing.

N/A N/A · Answer

Hello, What is your reason for getting a license?

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Chris, my reasons are as follows....
I've bought HUDs, REOs and so forth where I've done all my own research and found the properties myself.  Before I started doing my own detective work, I must've worked with half a dozen realtors who knew what I was looking for, but couldn't find me the property I wanted.  They were showing me things that I couldn't flip and make money on, nor were they showing me rentals that had a positive cash flow.   The ones I bought were better deals than the houses they provided.  In spite of what I can find myself on the internet, it seems that RE agents are also privy to info like foreclosures and in particular CMA info that I can't get as a layman.  That's my primary reason. 
Also, I feel the more knowledge I have in this area certainly can't hurt, since I'd like to do this full time.
Finally, I have my own built in market....ME....I buy about 2-3 houses a year, and I'm constantly asked by friends to find them properties, etc....once I do,  I always have to turn it over to somebody.
By having my RE license I can do it myself without having to explain my situation over and over to numerous Realtors only to have them show me what I don't want.
Hope that gives you some insight as to my motivations...thanks in advance for your response.