Start Up Costs? Ideas for creative saving?

Question

Im about to finish my schooling to obtain my real estate license. The only issue is, I want to get started right away being an agent, except the start up costs are around $2500... and i simply dont have that / cannot save that in time when ill get my license. Do any of you agents out there know of any semi quick means of creative money making that can help launch my career as an agent? I have a wife and kid so saving money is kinda tight right now. It could take me a year or more to simply save up 2,500.

Jonathan Greene · Answer

@Cale Myrick - one of the things they forget to tell everyone in real estate school is that you will not only need startup costs, at most brokerages you will have monthly fees as well. I suggest everyone has about 5k in the bank to use for their business to have any chance to get some leverage to get started. If it will take you a year to get together the flat start up costs, have you thought about how you are going to get business? You will need to get the money together if you can't find a family member to loan you the start up, but your best bet for making the business work is to find a team or a busy agent and offer yourself to them as a new agent who will do anything to learn. They often have extra leads to throw your way to get your feet wet.

Carolina E. · Answer

@Cale Myrick one thing I would suggest if you haven't done so already is make sure you call a few brokers and find out their fees.  Some charge you office fees even if you don't use the office.  Find one that will only be the minimum.  Also, see if any brokers offer to pay for some of your classes if you sign on with them.  I believe I had seen that once before, but I am not an agent.