Is it worth it to get a real estate license?

[Gerald Jarreau]

I am totally new to real estate and BiggerPockets. I have a condo and have been considering renting it out and moving home with my recently widowed mother to help out and to be able to afford another investment property. I am considering either buy and rent, or flipping the second property. I want to keep my current 40hr a week job for now, but that's about all I know. I am wondering if spending 400 dollars for an online real estate course, and then taking the test is going to be very beneficial to me. I do not have experience in real estate. Can one get a license and work nights and weekends in order to sell either independently or through a realtor? Is it worth it just for the general knowledge?

[Robert Leonard]

Welcome to BP @Gerald Jarreau!  Keeping your condo as a rental isn't a bad idea, but I'll give you a few things to think about that may help you make a well-informed decision.

1. Have you lived in the condo for more than 2 years?  If so, any gains you make from the sale are TAX FREE!  There aren't many other ways to make money that you can do whatever you want with now or in the future that are tax free.

2. Does your HOA allow rentals? 2 points to consider - do they allow them and is their a limit? Sometimes not more than a certain percentage are allowed to be rented. You can find that out in the by laws of the association. Be aware that the association can change the rules "in the middle of the game," so to speak, by changing whether or not they allow how many or any rentals.

3. The education required to become licensed will help you learn about the legal aspects of buying and selling real estate. That is all good to know. I call my license my "key to the city" - because I have access to any listed property in the MLS with the only limitation being the requirement to schedule property visits through the centralized showing service. If there's any way you can swing a live course, I always prefer those. You will hear that the real estate business is a relationship business and I can give countless examples of how that's proven true in my experience. You can start establishing some relationships if you can take that and any CE courses as live classes. You can work around your job as an agent, but it takes a lot of time and effort to be good at being a realtor.

You can learn about investing from reading good books and listening to good podcasts on the subject. I recommend you look up "The RING"/Baton Rouge REIA to start making some connections and learning as you go along side the regular group of active investors you'll find there.