Disadvantages to license?

[Mike Cumbie]

Hi All,

Question for you pros.

Background: We have bought a couple properties and have experience renting out places we own. My wife and I have decided to get more active in Real estate. We both currently have good jobs (in IT) and great credit. We are looking to move into more Real Estate investing than we currently are. I have decided to get my license as a first step instead of the common Wholesaling step alot seem to go through (By no means having an issue with people who choose that route). I am working through the coursework now, but figured you guys were a better real world resource to ask.

My question is: can I as an agent (under a broker) still find distressed properties, discuss ARV/Repair costs/Acceptable commissions with the owner and list them on the MLS? It seems like a built in "Buyers list", using the local MLS. As long as I am transparent with the seller (in their best interest) maybe list as "Cash only" with terms to help my seller with their specific need (quick close). Ensure my seller is aware of where the money is going and not hide anything from my broker is there anything just wholesaling instead helps with?

I realize there are broker commissions and MLS costs etc, but is there something I can't do based on commission vs fee that would hurt me if I made the commission comparable?

(50K house 10% commission if I sell I get all, if a buyers agent comes in we split 5% each). 5K seems to be the base Wholesaler "fee". Just trying to make sure I am not shooting myself in the foot by getting licensed. It seems that if I took that "deal" and placed it on the MLS I would get hits and movement for a quicker sale if I had all the comps and repair costs laid out.

Thank You