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Updated over 7 years ago,

User Stats

14
Posts
8
Votes
Trace Garretson
  • Westminster, CO
8
Votes |
14
Posts

Becoming a Real Estate Agent in order to learn investing.

Trace Garretson
  • Westminster, CO
Posted

Hello everybody, my name is Trace and I am new to BP. This is my first post so please make suggestions if it would be better placed in another forum. 

I live just north of Denver, Co. in Westminster. Although I'm brand new to Real Estate, I know without a doubt that I would like to become an investor and produce passive income as soon as possible. It is definitely a seller's market here, which means price points are much higher than other places in the country. My impression is that it would be a great idea to become a local agent, and take advantage of the market's current (advantages?) to agents. In the mean time I can network and learn my local market for investing purposes while hopefully earning a commission. Even if that proves wrong, I am also under the impression that it is valuable to be able to save on future purchase costs by having a license and have access to the MLS. Additionally, it may present some potential income that would never have fallen in my lap otherwise.

I have several questions about becoming licensed, some of which may be rather unique:

1)Does the source of my 168 hours of classwork matter to a broker?

2)How quickly can I complete a physical class in comparison to an online class?

3)Does a physical class provide worthwhile networking opportunities? Or am I better off finding those through a broker once I have passed my exam?

4)What schools are the best in my area? I tried accessing DORA's website but could not find that info.

5)If I study online, may I still receive physical mentoring (face to face)?

6)How much time am I required to commit to a broker once licensed?

7)How does the hiring process work with a broker once I pass my exam?

8)How soon can I begin to collect either a paycheck under a broker or a commission?

9)How will my hand tattoo (fully covered hand) affect me while looking to tie my license to a brokerage?

10)What happens if I become licensed, but then for some reason pursue investing out of state, and relocate there? Will my efforts amount to a wash, or will I be able to just take their exam and keep moving?

11)Will licensing benefit me for out of state deals? (For example, helping a client relocate).

12)Can I represent myself in out of state investment's for myself, or must I hire an agent? If so, can I do so immediately, or must I stick it out for 2 years under a broker first?

Thank you to anybody who has read up to this point. I would appreciate any input on my approach, feedback on my post, and answers to any questions, even if it's only one.

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