Considering adding "Become a RE agent" to my 4-yr plan

[Nicole Heasley Beitenman]

I started investing in 2015 when I purchased my first primary residence in Cleveland and started renting out my spare bedrooms. I LOVE being a landlord and hope to someday become a full-time landlord through single and multi-family homes. 

I started saving up in January for a down payment on my next property. My goal is $15-20k in savings and I currently have about $7,500, so I estimate I'm roughly 6 months away from being able to afford another property. The plan is to use any profit to fund the down payment of a 3rd property, and so on and so forth. 

I just turned 26 in June, and when I turn 30, I'd like to move back to Youngstown, start a family, and be self-employed. I would love to have enough properties under my belt to live off of in 4 years, but it occurred to me that if I don't, I could get my license and become a RE agent as another means of making money and further ingraining myself in the field of RE. My question is this: What can I do now to start preparing for a career change? Obviously, I plan to begin networking so I can talk to agents about their experiences and find mentors. I can also do my research here on BP and elsewhere on the internet. I can learn more about the exam and licensing in my state (Ohio). But are there other things I could be doing now to make the transition smoother?

TIA!

[Jonathan Kelly]

@Nicole Heasley Beitenman  I have my license here in Ohio and I would suggest possibly taking one class at a time right now.  Sure it will cut into your savings a bit but the commission you earn on your first deal could potentially pay for the classes.  With classes and the test you're looking at about $1300-$1700 all in (depending on where your classes are).  Your license itself will run you about $1,200 (rough number) a year for all the insurance, dues and fees.  Plus if you're working during the day and plan on taking the classes, you'll have to do nights and weekends which could take a few months to get done. You need 130 classroom hours which isn't too much but when you do it 8 hours a week (M & W 5-9 pm for example) it can take 3 or 4 months to finish.  

I'd start out by taking 1 RE class which will only cost $250-$400 depending on where you take it and which class you take.  I think pushing out the purchase date on your new property a month or two (because of finances based on your saving numbers) but buying that property with your license yourself would be worth it.  There are 4 classes that need taken to obtain your RE license and you could take one a month and be done by then end of the year if you start in late august/early sept.  

If you do go this route I would suggest waiting until the new year to get license.  It doesn't make financial sense to get your license in Nov or Dec.  They pro rate some of your fees but not all of them, so there would be lots of fees and most likely no immediate benefit.  

If you don't work during the day or have the ability to take 3 weeks of vacation in a row (ya right lol), Hondros has an intense program and you could theoretically have your license in 1 month, obviously most people aren't able to miss that much work but it's another option.

Whatever you choose good luck!