Career Plan Type Question

[Michelle Elsaid]

Hi everyone,

I am very interested in real estate and currently saving for my first "househack." I already do a lot of self study, but in order to speed up my savings, increase my knowledge, create new opportunities, and get started in the industry altogether, I'm thinking about getting my RE license.

I currently live in an apartment in downtown Orlando, FL. This could be a good opportunity for me to become a realtor for those searching for downtown apartments (rentals) and condos.  I do work full-time, but this could conveniently become a weekend and night opportunity, my employer has very flexible work hours if needed..

It is also worth mentioning that a long-term goal, besides investing, would be to open my own mortgage brokering or property management company. Both of these require years in the industry.

Thank you for taking the time to read my post. Curious to hear everyone's thoughts on this plan and any ideas for getting started.

-Michelle

[Chris Romany]

Michelle,

I became a Realtor here in Orlando as soon as I realized the breadth of tools that were available to agents to do research. As an investor, a lot of your money you make is before you buy, when you do your due diligence. The fact that you get to keep commissions on your own transactions is also a bonus. If you plan on being in real estate long term, I would recommend you get your license. 

One thing to note is that there is a cost not only to getting your license, but also an annual cost of operating as a realtor as well. Make sure you budget for this, and if you are fully committed, you will succeed.