To be... Or not to be (an agent)

[Taylor Rider]

Ok BP nation, I need pros and cons, the good and the bad, from the experienced and new guys. I have recently made the decision to leave my profession and go all in w/ real estate. (Woop woop!) I haven't turn my 2 week in yet because I am getting all my ducks in a row. My long term goals are to have enough passive income that by the time I'm 40 I can enjoy life and my family (they're very important to me). That being said! What are yalls thoughts/concerns on me becoming a licensed agent and working under a brokerage? My thoughts are this would leverage me into the awesome world of real estate and I would be able to meet many private lenders, find out who the big dogs are, contractors ect. While also helping ppl find their dream homes. On the other side of the coin I understand that realtors and investors have 2 completely diff mind sets and are known to butt heads from time to time. So there it is! Should I or should I not be an agent for 3-5 years, gets leads and understand the process more, then focus more on investing after that. Thoughts from all sides and angles welcome! Fire away! As always thanks BP nation!

[Bryan O.]

Hi @Taylor Rider. First question,how does becoming an agent help you meet private lenders, find big dogs, contractors, etc.? That's called networking. You can do that as a regular person by getting involved with the investing community. The only investor/agent headbutting comes from one or the other not being clear with their expectations or being unreasonable (i.e. make 2 zillion offers and I'm not going to buy them).

You mention wanting to build passive income, which means buying property. If you go the self-employed route you will almost immediately be turned down for bank financing for the next 2-3 years. Banks will want your tax returns for 2 years of self-employment because they need "proof" of your income. As a W-2 employee you have far better financing options.

That being said, go where your life needs to be! Every decision is the right one if you have the ability to react quickly, think intelligently, and learn from your mistakes. Best of luck and happy investing!