Getting real estate license as point of entry in REI

[Mindi Rosser]

I'm a newbie to BiggerPockets and am binge-listening to the podcast and webinars. Such a great resource, feel lucky to have found a credible source for information, asking questions, and networking with others.

My Background: I have a B2B marketing background with a heavy focus on social media and lead generation. Have been freelancing for several years and generating a decent income while building up my reputation within my niche. I work from home, have flexible hours, two toddlers & one teenager at home, manage the household. I want to "retire" from marketing within 10 years and am looking to pivot into real estate investing.

Hubby's Background: Union Carpenter with 10+ years of experience working in union/non-union jobs. He's also worked several odds-and-ends sales jobs throughout the years -- has a knack for working with people/sales. He wants to transition out of the trade and into real estate with me, after I started discussing our options and opportunities for investing.

History: We've discussed both becoming REALTORS® in the past and working together, because we have complementary skill sets. After what I've been reading/watching on BiggerPockets, it seems like it makes sense for new investors to get their real estate license for multiple reasons (i.e. credibility, networking, saving money on deals, finding deals, etc.) I think it will also help me/us understand the terminology and "join the club" to be taken seriously.  

Goals: We don't yet own any investment property - just our primary residence. We're interested in the BRRRR strategy - starting out with small multifamily properties. We have some funds saved towards investing, but not nearly enough to really feel comfortable and have a big enough safety net.

Question: From what I am learning, we need to start developing credibility and a network within the industry in our local area. We're planning to invest in our backyard (NWI - Northwest Indiana - suburb of Chicago). Thinking this would be a good entry point for us to get to know people, make deals, generate cash for investing. Should we both get our real estate license? Pros and cons?

[Shawn Mcenteer]

License is great.  My wife and I both got our license 5 years ago.  She never stayed active, I still am active.  Starting out it never really made sense for us both to have a license.  The decision came down to dues, we both started out part time so paying double the yearly and monthly dues was a lot.  License has been great for viewing properties and making commission on properties we acquire or sell.  Along the way I bought and sold properties with a local investor I met on bigger pockets.  For me having a license has been a success and has save a lot of money and produced some awesome commission checks.