Updated over 9 years ago on . Most recent reply
RE License or Invest
Hello,
I'm new here to BP and my husband and I have been researching and learning as much as we can these last 6 months. Our long term goal is 100+ Buy and Hold, Multi Family Units. We would like to start with at least a 4plex the beginning of next year (Feb-March), and live in one of them while renting out the others.
We were curious to know if getting a RE License would be beneficial and worth the time and money. As a job that my husband can do, while we try to invest in more properties.
Here's our problem, we know this isn't a get rich quick path. This will take time of course whether it's investing or becoming an Agent. We only have about 6k saved, and he cannot just up and quit his current job until the RE Agent, or some position within an agency makes enough to pay our bills immediately. And our credit isn't very good, we've raised it about 80 points in 6 months, but it's still only about 610 right now our debt is around 12k, thats including our car, one 3k medical bill, and some credit card balances.
Our thought was if he could become an agent, start making sales, we could use that money to invest in properties.
We have 3 kids and I own a business where I work from home. But it will never make enough to make ends meet, we tried that path already and unfortunately failed.
We could really use some advice on what to do. We want some financial freedom for our family. We rarely have time together and thats not living, we're just maintaining a life that we're not really enjoying.
Thank you
Also, I have searched the forum on this topic, but wasn't satisfied with what I found. So I wanted to ask my own question.