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Updated over 7 years ago,
Real estate license? - working for brokers/friends part time?
I know that the pros and cons of whether or not to get a real estate license to help in your REI have been discussed. And also that the answer about whether to do it or not really depends on your personal situation and goals but I have a more specific question (feel free to link me back to any threads that help answer my questions below, TIA).
I have two people in my life that are brokers. One is a pretty good friend who has built a successful investing and property management business and another is the mother of one of my best friends of over 20 years who has built a successful agent/broker business in a nearby town.
My question is this, does anyone else have your license and work under a broker as a sort of subcontractor and only use them when need be and of course pay them the percentage due for working under them? If so, how does that work out on both ends? I'm trying to figure out if it's even worth it to approach either of them and the last thing I want to do is something wrong or put them in any kind of awkward position so I just thought I'd pose this question to the group here for thoughts or considerations first before even broaching the subject with either of them.
If I were to get my license, do you have any thoughts on how I could create a situation that would be mutually beneficial so that they can get something out of working with me, too? If I decide to do it I'd like to approach them with something fair and equally balanced. There's really no point to having the license if you don't have someone to work under, right? (other than everything that you learn in preparing, of course). I still have a full time job and would not be able to "work" for them but I'm sure that something can be arranged that helps me meet my investing goals (buy and flip/hold) and provides them an incentive for me to work through them. Thoughts?
Thanks!