Real Estate license needed??

[Delresa Rollerson]

Hi fellow investors....I've been flipping houses for 17 years by building a great team of professionals (realtors, contractors, attorneys, etc); however, I recently relocated across the country and am now considering obtaining a real estate license to take my business to the next level while beginning to invest in my new area. What are your thoughts? Also looking for input from those who are licensed and investing....pros and cons...is it worth it?

[Aaron Lovett]

Hi @Delresa Rollerson, 

I'd take an inventory of your own strengths and liabilities, and decide where you would best fit into this new business location.  Not to discourage you from getting your license, although that would add "owner/agent" to your deals, and depending on the property/market/etc. some would say that matters.  In my experience it doesn't make that much difference, if at all.  But back to my point: Do what you do best.  If you were able to successfully build a team from a variety of professions once, you can do it again.  Would getting your license and doing the duties of the Realtor really be the best use of your time?    

Take a look at Gary Keller's "The ONE Thing" and "The e-myth Revisited" by Michael Gerber.  Instead of (or maybe in addition to?) my 2 cents I'll offer those two book suggestions.  

Oh, here's another perspective: if someone else in your new area had a similar business and team of contractors, realtors, attorneys, etc., and they had two positions to fill: General Manager, and Realtor, both of which pay the same: 100% of the net profits.  Which one would you apply for?  Why?  (There's no right or wrong answer, just another perspective.)