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First year problems

Do cover letters matter at all anymore?
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First year problems

Do cover letters matter at all anymore?
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Having a broker license will allow you to own a real estate sales company:
1. You will be able to hire sales associates
2. You will be able to subscribe to the MLS
3. You will be able to keep 50% of the sales commissions of what you are buying/selling as you represent yourself
There is a cost to this, and may be a timeline to follow to be a broker.
As investors, lots of people are DIY types, particularly in maintenance, remodeling etc. There is certainly a skill component, but time is the challenge for most.
I prefer to hire for those skills, and focus on the development and coordination - leverage the resources vs sweat equity.
The value of the broker license really depends on the direction you’re going.
Check the laws of the state you want to practice in. Take the realtor exam. Becoming a realtor does not obligate you to work for anyone. Find a firm that hires new agents. You'll see what properties they have access to on multiple MLS and the privately owned ones too. See if you enjoy being a realtor. If you do, you can become a broker.
When I first started investing, I became a realtor just to buy and sell , learn how the paperwork works, and save money by paying myself commission to sell my own house. My spouse is a contractor, so this worked well for us. We like the numbers aspect and the remodeling aspect. I did not enjoy being a buyer's agent....but I do enjoy buying old homes to fix and sell.
Be prepared to keep long term whatever home you purchase. You won't make money every time. You might break even or you might even lose some money. Assess your risk tolerance and be conservative until you know you enjoy this.
If you want to get into real investing (and not deal with buyers and sellers, if you’re not into sales) you do NOT need a license. You just need:
- business savvy
- knowledge
- great resources
Start learning the terms of BRRRR aka buy rehab refinance rent out repeat
Joint FB groups related to REinvesting in your state
I’m a licensed agent and that made no diff when I bout a fixer, rehabbed it and now renting it out.
Well, one benefit is that I got a $3k+ commission… but then again, if you’re not an agent with clients as a career, getting a license can be a waste of money because you pay soooooo many fees just to keep that license active