Lender · Nationwide · Member since 2018 · 571 posts · 310 votes
Hey everyone,
What are your thoughts on an active multifamily investor getting a broker or residential real estate license? I am fairly young and could potentially leverage it to produce capital, but am also wondering how to decide if the knowledge and connections that are worth the investment of time and energy. Do you have a license or know any investors who do? What was your experience with it?
What are your thoughts on an active multifamily investor getting a broker or residential real estate license? I am fairly young and could potentially leverage it to produce capital, but am also wondering how to decide if the knowledge and connections that are worth the investment of time and energy. Do you have a license or know any investors who do? What was your experience with it?
I have been licensed since I started out in 1997 and it’s has made and saved me a lot of money. If you have the time to complete the course Ave keep up with continuing education each year it’s definitely a good thing to have.
There is no “Residential or Commerial license” only agent or broker. In some states it’s salesperson and broker and the only difference between those is as a broker you can have your own firm but as an agent you have to work under the supervision of a broker and hang your license with them.
What are your thoughts on an active multifamily investor getting a broker or residential real estate license? I am fairly young and could potentially leverage it to produce capital, but am also wondering how to decide if the knowledge and connections that are worth the investment of time and energy. Do you have a license or know any investors who do? What was your experience with it?
I have been licensed since I started out in 1997 and it’s has made and saved me a lot of money. If you have the time to complete the course Ave keep up with continuing education each year it’s definitely a good thing to have.
There is no “Residential or Commerial license” only agent or broker. In some states it’s salesperson and broker and the only difference between those is as a broker you can have your own firm but as an agent you have to work under the supervision of a broker and hang your license with them.
Investor · IN · Member since 2019 · 3 posts · 1 vote
6y
Hello Mr. Noss,
I believe it all depends on what you are willing to undertake at current time. I'm actually very lucky and blessed with my Real Estate Agent experience. One of my cousins is a Real Estate Agent and owns her own Management Company here in Indiana. We have created a great bond and she has helped me so much in searching for properties, lenders, contractors, title company, private investors, and much more. I weighed my options, because I too was interested in acquiring my license, but I decided that I trusted her enough to help me along the process so I opted out of getting my license. So far, we have worked together very well. I made my first step in Real Estate thanks to her helping me find somebody looking for lenders. I supplied the funds and now I am waiting on my sweet return, haha! Once again though, it all depends on you and what you are willing to undertake at current time. Good luck on your journey!
Specialist · Tampa, FL · Member since 2012 · 933 posts · 492 votes
6y
@Shafi Noss, although I don't think you need one, it can still be of great use to you. It can't hurt having both. There are a ton of passive guys who would love the comfort of dealing with an investor who also has a brokers license. If you're looking to leverage relationships, it def. helps. Good luck
Flipper/Rehabber · Mount Pleasant, SC · Member since 2013 · 547 posts · 235 votes
6y
I flipped houses and wholesaled for 5 years without a license, because a mentor discouraged assigning contracts while licensed. I found an investor-friendly broker (he actually bought a house from me via assignment of contract) and hung my license with him. My RE license has been lucrative and valuable and in no way impedes me from continuing to flip, wholesale, and acquire properties for my own use. Simply follow your broker's instructions regarding disclosures. The fees are minimal and I have added a significant income stream by simply helping other investors sell properties that are difficult to sell. Go for it!