Should I get a Calif RE license if I'm investing out of state?

[Joel Fine]

Hi,

I'm looking for advice from the BP community on the value of getting a real estate license as a long-distance investor.

I live in Silicon Valley, California, and have begun my investment career by investing in residential property in Austin, Texas. I might invest in other locations down the road, but I do not plan to invest locally - the rent/purchase price ratio here is so low that properties won't cash flow, and (my opinion) the state's laws are hostile to landlords. So it's strictly long-distance real estate for me.

I've been thinking about getting my Real Estate license. Access to MLS would be very handy. But, Texas requires that I be a resident of that state in order to get a Texas license. So, I think I'd be restricted to getting a California license. California doesn't have reciprocity with Texas. So I'm unclear: would a California license be useful if I'm investing strictly out of state? If not, are there alternatives (short of moving to Texas) that I should consider?

Thanks in advance for any advice or wisdom.

Joel Fine