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 almost 4 years ago,
Advise for a complete newbie!
Greetings!
I'm hoping everyone can share some of their wisdom with me. Sorry for the long post!
I am a 25 year old based in Orange County, CA. I currently work full-time but I am interested in RE.
I would love to invest but my market at this point is not attainable since I make 50-55k a year, and that's peanuts in OC (I don't own a home, renting atm). I'm hoping in the near future If I am able to obtain a job that pays a bit more and with my partner finishing up her master program we will have more of a cushion to invest out of state (and our own home lol). I could see RE as a potential full-time job if it was profitable for me.
Now, my "dilemma" is i would like to get my feet wet with RE. I have been considering obtaining my RE License so I can get a more intimate look at how the process works. Learn from those who are successful at their craft. I'm hesitant because I do not have the luxury of quitting my full-time job and it takes away my Sunday-Tuesday and every other Wednesday (I work 12 hr shifts at hospital). I'm actively trying to get into law enforcement as well but Covid has had me "frozen" in the process for a year now.
I've done enough reading to understand that it's rare for a first year agent to be profitable and that most quit within two years. I'm not expecting to make millions. It would be nice to understand how transactions are facilitated, relationships built, clients found, finding great deals, etc.
My concern is with my current time-crunch how viable would it be to do RE part-time? I'm sure this is something that get's asked around a lot. I wouldn't even mind breaking even or just making a few extra bucks if I can get valuable knowledge out of it. I'm aware that after passing the exam there are fees after fees that must be paid plus brokerage fees for advertisement and office space. That's something that worries me if I am not extremely active and still paying dues.
Do you have any suggestions for a potential part-timer? or perhaps another option/position that would still provide valuable experience and perhaps a little extra income too that can be done in a part-time manner?
I'm used to working 16 hour shifts and have no problem working long hours. I have down-time at work too with access to a laptop.
I'm enrolled in the two required CA RE courses at a community college that start February 08 (still need to enroll in an elective course at some point). I've been debating if it's something I should even take given my situation...I'm hoping to get some more clarity if this is something I should pursue right now or hold off.
Thank you for any and all your input,
Cristian