All Forum Posts by: Todd Romero

Just want to throw out a thank you to all of you that have taken the time to reply to my thread, all great information. I’ll let you all know what I decide to do. Thank you, I can tell I’m going to love this site as my career develops...

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Originally posted by @Duane Smith:

Hi Todd,

You asked a great question and one I was pondering myself. To give some transparency, I'm going full-time into being a real estate agent in February. My decision came about because I too was interested in the investment aspect first, then got the idea that the agent license could only benefit me.

However, I've spoken with a lot of investors over the past two years and many of them have licenses. They've told me that, to them, their license wasn't that big a factor in their personal investment ventures. They tend to keep the same networks as most unlicensed investors and I've learned the investor/agent community is very close. There won't be much more that they know that a serious investor wouldn't.

So I suggest if you get your license, do so as a way to get yourself into a business operation that you run and control. Use it to create your income to invest on your own. The upside is unlimited and if you have the right attitude it can be the most rewarding career you've ever had.

That's why I got my license, because I wanted to be my own boss and I had a keen interest in real estate. Otherwise, the expenses and liability (as your uncle mentioned) can make the whole thing very unrewarding.

I hoped that helped!!

Duane

Thank you for the input Duane, I will take it into consideration for sure.

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Originally posted by @Ian Walsh:

The whales are waiting like they do on every cycle.

If by whales you mean "the big boys" you would be correct sir! I'm a deep value stock investor and Charlie Munger has famously said that "The big money is not in the buying and selling... but in the waiting". When it comes to stocks I believe this 100% unless I can buy with a 50% margin of safety. With Real Estate I will be buying with a lesser margin of safety, but only deals that cashflow...

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Thank you to everyone who has taken the time to reply to this thread it is much appreciated and all advice will be taken into account. I lean towards getting licensed just because I feel it can only add credibility and and open up opportunity. As far as liability goes, IMO if you conduct business as business should be conducted then you should be golden! Again thank you for all the input, I'm a little overwhelmed with all of the responses.

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Originally posted by @John Thedford:

The education is a bonus and more doors will be open for you if you become a licensee.

My thoughts exactly, thank you for the input...

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I know this question has been asked many many times, but this pertains to me personally. My father who has been a Realtor as long as I can remember says go for it. My uncle who is also a realtor says no it will create too much liability. I’m not looking to become an agent who works with clients, I want a license specifically to aid my investing career/business, and to possibly work with other investors. May possibly get into a wholesaling as well and I feel a license in that aspect can’t hurt! Your thought are much appreciated...

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Originally posted by @Jeffrey Holst:

Welcome Todd. I love that this is your first post. Glad to have you. Jump on in anytime

Thank you my friend...

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I love this thread and this is my first post on the forums lol. I started listening to the podcast from episode 1 and have made it to episode 116 so far. I’ve also recently started watching Wednesday’s webinars. As far as goals go for 2018, I have many and keep an ongoing list of short term, mid term, and long term goals.

2018 Real Estate related goals:

1) purchase cash flowing single family and multi family properties

2) fix and flip single family homes

3) get real estate license

4) be more active on the forum and network with like minded people here at BP

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All Forum Posts by: Todd Romero

Todd Romero has started 4 posts and replied 28 times.

Post: Do I need a Real Estate license.

Post: Do I need a Real Estate license.

Post: I want to wait for the next buying opportunity

Post: Do I need a Real Estate license.

Post: Do I need a Real Estate license.

Post: Do I need a Real Estate license.

Post: My Bigger Pockets Goals for 2018- (you should do these with me)

Post: My Bigger Pockets Goals for 2018- (you should do these with me)