New investor looking at real estate license

[Emily Smith]

Hi all! I’m relatively new at this, have been doing tons of learning and saving and am getting myself ready for my first deal.

Going all-in and committing to REI so my question is: about how long does it take to study for the real estate exam (I'm in northern VA and would be looking to purchase here)? Thoughts on getting my license now or waiting until I have more time/a property or two under my belt before pursuing that?

[Emily Howlett]

In terms of the timing of getting your license, it may be worth it to wait until you have a property or two, just to make sure you really are set on this being your path forward. Not to say it won't be, but as with a lot of things, the day-to-day can be a lot different than what you see from the outside. You'll also want to consider the cost of maintaining your license (can vary, but as a data point, I spent about $4k last year just on broker fees, MLS dues, etc) vs what the savings would be. If you're buying/selling a property every year, it probably would be worth it. Maybe even one every 2-3 years would break even. Other than that, you may be losing money. One last thought (then I promise I'm done!), is that as an agent, you have extra restrictions that you don't as just an investor that might not make it worth it.

I guess what it really comes down to is....what benefits would you be looking for from becoming an agent?