New REI...is it beneficial to have your real estate license?

[Spencer Boerup]

I'm a new REI and looking to add more to my portfolio, somewhere possibly between 10-15 units in the next year.

I have a commercial unit fully leased (to another business I own), and a single Townhome with about $1130/mo COCR, with a projected IRR of about 16.4% over 6 years. It was my first foray into residential and now I'm looking to get into MFH.

I have worked with a local long-time REI who is a close personal friend. He knows the market very well and has done easily over a thousand deals, with over a hundred units locally. He's helping me close deals quickly, but obviously getting a commission.

I've been a business owner for 13 years and understand the sales process and am not afraid of getting my own deals done working with other agents. I'd love to save money not paying commissions, especially since I'm analyzing all of my deals and doing all of the finding. My friend has just helped me assess potential property renovations that may be needed, and looking for things to avoid in properties when we tour them.

If I can save money, I'm interested...but, do most REI's get their real estate license so they can save on realtor commissions and close deals themselves?