Are You Starting Out As An Investor and Thinking About Getting Your Real Estate License?

I get this question a lot from recent graduates and folks switching careers. “I want to be an investors, should I become a Realtor?”

I get it so often, I invited a young gentleman named Tim to ask me his questions and record it so I may share this for anyone in the same boat as Tim.

For those wanted to get a real estate license to get access to the data available to Realtors, over 50% of agents do 0-1 transactions per year.  Don’t you think you could hire one as your assistant to send you reports on the data you need? That would be considerably less expensive than the hundreds of study needed to obtain your license plus the couple thousand dollars per year in fees to maintain your license.

Food for thought and by the way, don’t listen to me for career advice or legal advice, these are merely my two cents on the subject.

Secondly, I learned in the methods of business, not following one’s passions.  The market does not care if you’re passionate about real estate. I got my real estate license back in 2010 because there was a gap in the market, there was no one focussed on guiding investors in Hamilton at the time.  I was part of a fair sized investor network at the time and investors there were demanding the same.

I am a Hamilton investor, I was good at it, I’m a pretty good Realtor too hence the awards you can see behind me.  There was demand and no one was supplying the service to fill such demand. That’s how I made the business decision.

If you’re looking to practice as a Realtor, I suggest a similar approach to evaluating the supply, demand, competition in your target market.

A great place to start would be like I did, becoming a member of group of like minded real estate investors and my own group, the Infinity Wealth Investment Group meets on Feb 28th and four weeks later on March 28th.  If you want to be a investor, I can’t recommend enough that you spend time around local, successful investors.

If you want to take an even deeper dive into our Freedom 45 program, we can create for you a business plan that can truly give you time and freedom to do other things you love.

If that interests you, come to the next iWIN event, you can register here: iwinmonthly.com/meeting

If you’re looking for a get rich quick scheme, this isn’t for you.  Building wealth is a marathon, not a sprint and playing for the long-term takes a lot of the risks out of investing.  No different than the Casino but I despise risks to my money.

If you’re looking for a “work hard and build an awesome portfolio” scheme, then I’m your man!

Enough from me, I give you Tim, a 23 year old, recent graduate with a Psychology degree, $40,000 of student debt with big aspirations for what’s next.

 

Books I recommend:

How to Win Friends and Influence People by Dale Carnegie (I can immediately tell when people contacting me, asking questions, asking for my time if they’re read this book or not)
Maximum Achievement by Brian Tracy
Psychology of Achievement by Brian Tracy
Rich Dad Poor Dad by Robert Kiyosaki
Renos to Riches by Ian Szabo