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Updated over 9 years ago on . Most recent reply

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Justin Monday
  • Student
  • Sacramento, CA
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Agent AND Investor?

Justin Monday
  • Student
  • Sacramento, CA
Posted

I am planning/preparing for a career in real estate.

Basically, I want to get my real estate salesperson license, get experience in the field, get my brokers license, and start a company. 

Here is my dilema: I am unsure of how some aspects of real estate practice interacts with other areas of the industry. For example: I know that I am interested (at least for now) in multi family buildings, small and large, and that my company could (should?) manage them. 

But, what if I still wanted to represent residential buyers and sellers? or commercial investors?

How many "services" to provide and in what combination do we provide them?

Is there any advice for which 'services' to combine for my business model?

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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorReplied

Welcome to BiggerPockets, @Justin Monday

There are a LOT of investors who also hold a license - in fact I would say that is one of the top questions on this site, "Should I get my real estate license?"

There are a couple of things you should know before you start your licensing classes. In most states, you must hang your newly acquired license under a more experienced agent for at least two years before you are able to strike out on your own. The more experienced agent, called an employing broker in my state of CO, is the one who decides what sort of real estate the agents licensed under him can practice. So if you want to work in property management, you should find an agency that allows property management. Ditto commercial and residential real estate.

You are allowed to manage properties that you personally own, license or not. 

There is a huge difference between residential and commercial real estate. In the beginning, I would recommend choosing one or the other to learn first. Residential real estate makes a good combination with residential property management, and there is a real shortage of good property managers. I am a residential agent and investor, so I am slightly biased in my opinion. Good luck.

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