Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 7 years ago,
Beginning investor looking for advice on becoming a broker
Hello everyone!
Iv'e been on here on and off over the years. I attempted wholesaling for a good while but had no success, I also tried finding multi families with no success mostly due to the fact that I was in the Military and found that going on the road so much was affecting my business, and the time spent on business was affecting my job, although it was a means to an end, the job was important. I'm now out of the military, and decided to get back involved in REI.
Im currently looking for flips, and marketing for wholesale deals. Im very confident ill find both. But i'm curious about getting a brokers license? Iv'e been doing this for the past month and although I haven't gotten any deals, I enjoy it. I feel like iv'e made progress. Im currently not working and living off of saving's, and unemployment benefits. I start College in January for nursing. Im honestly going to school for a couple reasons:
1) make momma proud
2) GI bill pays $1700.00/mo for living expenses + U/e will continue to cover me while I got to school...until I get some deals..then ill get cut off lol.
3) When people go crazy and hurt other people, or some natural disaster happens, nurses are needed. Plus nurses are needed generally as well...but I really don't want to depend on it as a source of financial security.
So im thinking about taking this time off and becoming an agent full time, while I invest on the side. I would either invest and go to school providing my self with funds from benefits. Or I can be a real estate agent, sell homes full time, while investing on the side.
It seems like it could only be a positive thing to my growth in the business. But I also wonder if i'm stretching my self thin? am I beginning to focus my attention in to many different avenues wile marketing for properties to wholesale or flip and being a broker? School will always be there as well, and it would be nice to go to school just to learn and not to go for a way to make money.
I just wanted to get peoples opinions on the subject. My goal is to generate enough income that I can retire my parents....cause I don't think they have a plan, and be able to have the freedom in life i'm looking for (travel, build my car, no one to answer to). I calculated that out to about $300k a year, or 25k a month....for a good lifestyle. My goal is to do this by the end of 2018. From there I would like to reach to become a millionaire in 12 months...I just don't know why I would need all that money yet? I probably could live pretty happy on 300k a year. I think the biggest thing for me is becoming a professional, and the dollar amount is kinda like a ticker but thats far out.
so with that info what do you guys think? would it help to push my investing career forward to be a full time agent? or should I just stick with school and invest on the side? I just wonder about the time commitment. Will I be spending more time being a broker than a full time student? Where will I have the most control?