New to BP and RE - looking for advise

[Sean Adams]

Hi BP,

I new to BP and the real estate world from an investor standpoint. What an amazing reference this site and community is!

I have recently sold my exterior property maintenance company and am looking to get involved in the RE investment arena on buy and holds of multi-family properties (mainly duplexes) here in Southern NJ area. 

Due to the contacts and references I have made from through my contracting experiences, last year I setup a separate LLC as a general contractor to maintain my license and insurance for the ability to sub out and manage my vendors and/or day labors contacts when needed.

Being as I a younger guy and brand new to the RE investing arena as well as having freed up my time from my previous contracting business, I am considering getting my NJ real estate license. Sales and networking are my strong suits and the idea was I could learn some of the administrative side of selling property while creating an income stream for myself through retail real estate selling.

Ultimately I want to become a full time investor and create passive income through multiple rental properties, I do not have much as far as liquidity is concerned and why I was looking into getting my RE license hoping to learn while having an income stream back-up plan.

I do have a good friend who is a contractor and holds a NJ RE license who I can utilize for any deals I want to pursue. I am weighing the pros and cons of going through him in the beginning and getting started right away on buying property or getting my license and working my way into the investment side of things. 

I love the idea of BRRR strategy and plan to implement it on the right property as I am consistently searching for deals that fit. I understand with this strategy I can get into a good deal with relatively little out of pocket, I was just wondering what the BP community thought about pursuing my RE license while I was researching and learning the rental investment business.

Any advice or feedback would be helpful, Thank you !

Sean A.