Newly licensed (inactive) agent needs advice

[Aneal Khimani]

Hello BP.  I recently passed my Real Estate Salesperson state exam and I have yet to choose a broker to 'hang' my license with.  The whole reason I even made the effort to take the course/test is so I could get comfortable with Real Estate transactions, and eventually transition to being an investor.

I currently rent my primary residence.  My landlord has decided to raise my rent by almost 3x, and has given me about 60 days to decide if I'm down with the rate hike or if I want to move on.  

I've been mulling the idea of buying a personal residence for some time now, and I have plenty of cash set aside for a down-payment, closing costs etc.  I've decided I'm NOT going to pay the higher rent and will purchase a primary residence soon.

Here's my question:

Should I go ahead and hang my license with a broker now?  I'll get the added advantage of having access to FMLS as an agent of the broker I've been chatting with.  Theoretically I'll save some money on commissions if I represent myself.  I've never done any Real Estate transactions or deals, so I will be completely green.  The broker I've been considering has assured me that he'll hold my hand as much as I need it while I get my bearings down.

Do any of you have advice?  My wife isn't too thrilled with the idea of a live-in rehab, so if we do buy a primary residence, it'll probably need to be pretty turnkey.  Also, considering the market prices and my pretty abbreviated time frame, am I doomed?

I'm all ears.  Thanks in advance...

[Aneal Khimani]

Quote from @Chad Carrodus:

Yes, in GA you have to hang your license somewhere and it sounds like you already have a plan in place. Represent yourself if you see yourself doing this long term especially if you have a broker willing to hold your hand. 

As far as where to live, that's what I always love about Atlanta. No one lives in Atlanta. What is your budget? You will only become more doomed. Best time to buy RE was yesterday. 

What is your budget? That will determine where to buy smart. Also...you say you want to invest. Are you investing your own capital? What strategy are you planning to use? 

Thanks for the reply.  I've already officially hung my license with a broker at this point (per @Marshall Leipprandt's advice).  I am currently representing myself in my current search :)  I was able to get my Broker on a zoom call to help me through filling out my first offer (which wasn't accepted of course).

As far as budget for a primary residence goes, we cut off our search top-end at 400k.  We're finding properties here and there, but the listing prices are high (as expected) and closing in just 6 or 7 days for nice properties (also as expected in this market).

As far as investing goes, I would like to buy and hold rentals (either BRRRR, or small multi-family). I do have some savings so I'll be using my own capital (at least until I can figure out how to use other people's capital :)

Cheers!