Limitations and Access by becoming a Real Estate Agent

[Aileen Yu]

Hi BP!

I read through a few forums with this question but missing the actual list items to consider. I've already passed my exam and now wondering if I want to follow through with hanging it somewhere. 

My thoughts is I'm already going to do the same steps an agent would need to do: become an expert in the area, driving for dollars/getting your name out there, finding network of people (contractors, inspectors, agents, lenders, etc). I want every single one of my friends to become investors (except most will not be as aggressive as I am) why not be in a position to help them professionally? My only hesitation is that it comes with an estimated $2000 investment/year and I don't think there's any throw away knowledge from becoming an agent that won't help me as an investor?

Could anyone identify the actual restrictions or limitations that are put on you as a realtor that might limit you as an investor? What access becomes available to you as a licensed realtor that helps you as an investor? Or even better, counter my thoughts with a way to still accomplish the goal in another way that I'm not aware of? 

Cons:

- Limitations on # of cold calls (not verified but saw it on a forum post). This is potential issue for me as I plan on going for off market deals as my area is very expensive and MLS deals won't be worth it. Also sounds like you can be a wholesaler without a license so maybe I can still sell without paying dues?

- Limit on # of transaction?

- Are there other restriction that a brokerage might put on you?

- Property management requirements are little more strict but even passing the test, I'm still unclear on what that restriction is outside of not discriminating when advertising.

Pros:

- It sounds like I already need to have the knowledge of a real estate agent in order to evaluate properties, might as well have the option to sell and make extra money. (If I make one sale every 3 years (for myself or others) I would still come out positive).

- I get to be in more situations where I come in contact with other people I need for my investing team (contractors, inspectors, specialist, lenders, etc)., idk, maybe I won't? Are there other opportunties outside having a license that will let me have this type of regular access to these types of opportunities? As a realtor I know you can get paid to do an open house or inspection by other agents so can still make money without having clients.

- Tax deductions. As a real estate agent I know you can expense miles on the car, marketing material, memberships, etc. I don't know if you're actually able to do this as an investor but perhaps starting out the deductions won't matter that much?

- I already want to eat, sleep, and breathe real estate, and fairly low barrier to entry, why not try it out and try to make it a full time thing?

- More opportunities to find partners? This might not be true? I have no clue.

Most of my ideas on the key things I'm hearing on the podcast that will make me successful which is 1.hustling for deals this is going to be hard work that you need to put in anyway. 2 Building my network. I figure if I'm going to have to do this anyway as an investor, why not double up and build another income generating channel through selling real estate, but then again I don't know 100% of what a real estate agent does. Unfortunately, most of my experiences has been me looking on Redfin, asking to see it then eventually buying one. They filled out the paperwork, and met me to see the house, helped me find a lender (which was actually awesome and I want to be able to have this type of lender on hand if not several!).

This is not my finest literary work but I've drafted this 2394083 times and I just need to get this out there.

Thank you in advance and happy new year!!!