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 6 years ago,
Should I get my license?
I should start by saying I have already taken the course and passed the state licensing exam. So naturally I feel inclined to pull the trigger since I've already invested all of that time. I live in Michigan if that makes any difference. My investment strategy looks something like this 1) Start direct mail campaign / generate website leads 2) wholesale and co-wholesale deals to start. I have a mentor that will analyze my first few deals and go in 50-50 with me if he finds buyer. 3) Once I've built some capital do some rehab deals 4) Get into buy and holds, BRRRRR Strategy / multi family
I'm sure this strategy sounds familiar to many investors out there. My question is, should I move forward with getting my real estate license? I know there are advantages and disadvantages. Some people argue having your license is an advantage to have MLS access, being able to see retail properties easily w/o an agent. If I do come across leads from my DM campaigns that would be better suited for a RE agent services, I could pursue these deals and list them instead of buy/wholesale/etc.
On the flip side I've also heard it sort of defeats the entire purpose of your business if you do both. If you are spending time being an agent, it would take away from your investor business. However, it seems like as long as you keep the two separate, and always disclose you're an agent there shouldn't be a problem. Lastly, when it comes to direct mail, if I'm a licensed agent and I'm sending out a targeted DM campaign to buy distressed properties (not list them), would I need to include my brokerage logo & info on my advertising? I know anytime I'm advertising a property or my services as an RE agent I must do this, but curious how it works when you are marketing exclusively as an investor.
Sorry for the long-winded post, as you can see I've been going back and forth with this for quite some time now!