Contemplating becoming an Agent

[John Rubino]

Good Morning BP and Happy New Year.  Haven't posted in a while but I have a good one I wanted to share with the group.  A question really. 

I am active duty Navy and have about 2 years left till retirement.  I've been operating a Lending Business since April 2012 and have started to actively invest in our markets here in Northern Virginia and Maryland.  I'm happy with the way things are going on the lending and investment side, but not sure if it is something I count on to provide my family and I with the necessary income that we currently earn with the stable military job. I am looking at DoD/government jobs, contracting jobs, and corporate America jobs, but I really want to stay in real estate full time since I love the business. 

I know I still have 2 years and things can take off on the Lending and active investment, but I'm thinking of getting my realtor's license sometime this or next year.  My wife did the Moseley Course online and she didn't have much insight into real estate before she took the course. She completed it and is looking to the take the PSI exams. 

Is it worth taking the course now or next year before I retire to make the realtor position something I can do full time for a stable income while I do the lending and active investment efforts on the side?  I have a great network of colleagues, friends, and family in real estate where I am located and I know being a realtor has a lot to do with knowing your area and having great referrals.  I just want to make sure I can have the stable income as I continue to pursue other avenues of real estate. 

I have been looking at the pros and cons of being an agent and investor but would love to hear everyone else's thoughts.

Thanks in advance BP and I look forward to hearing your thoughts, suggestions, and as always great feedback.

Regards,

John Rubino

[Chris Farrugia]

I have a real estate license and I've yet to find a con other than the cost to maintain that license (which varies by state).  A lot of times you'll hear people list the extra disclosures that go along with it but I've never once had that become an issue.  It's simply a matter of saying, "Chris Farrugia is a licensed Realtor in the State of Florida" on any paperwork I have to do for properties I buy or list where I have a relationship with the seller.  In your situation, could you let your wife do the real estate side of things while you do the lending side?  That would save you licensing fees and it doesn't sound like you'd miss out on anything.  Then next year, you could jump in with two feet.