1st BP Post! Working on getting started in RE!

[Nick Rice]

Hello BP!

Wow it feels so good to finally post! I have read and learned so much here on BP, but have never mustered up the courage to post lol. I have been tremendously touched by the amazing community here and have decided I no longer want to be on the outside.

With that being said I reside in the Orlando, Florida area. I have read a lot of books, blogs, and listened to podcasts already for the past couple of years. I am currently saving with my Wife to purchase our first property and make the splash. We haven't decided on a single family to househack or a multi family yet. We live way below our means and barely carry any debt. We took the Dave Ramsey class for those who are familiar, which has helped us get our financial house in order. Now we desire to put our foot on the gas and accelerate to financial freedom through RE.

My question is I have thought about getting a RE license to get more in the field of RE, utilize the commissions to save faster, network, etc. Do you all think that is a wise choice? Also, our goal is to have $5,000 in passive income in five years to cover our monthly expenses and be financially independent. Our current monthly expenses are only about $2500.

Lastly, I would like to learn from Investors. I have read a lot, but I know learning with people personally will help me grow so much faster than just reading about it. I want to take action and am willing to learn unpaid. Please let me know if you have any opportunities available.

I appreciate all who read my post and thank you in advance for your replies! 

[Abel Curiel]

Hello Nick, 

Great post!

I'm currently getting my RE license here in NY and intend on getting the same benefits out of it that you're looking for. Before looking further into it, I would just make sure that benefits of having your license align with your goals. If you're looking into small multifamily or even several SFR rentals, you might be able to save a good amount on commissions.

On the other hand, the pre-licensure course can be time consuming, agent responsibilities can be demanding (office hours, meetings, desk fee). Not trying to sway you in either direction, just mentioning some of the things that I had to consider before deciding.

As far as seeking mentorship, reaching out to known investors in your area via BP can help. I would also attend some local REIA meetings.

Best of luck to you!

-Abel