Hello Community,

Currently i'm in the US Air force and i'm enrolling in a real esate school called Allied Business School. I get out of the military January 10, 2009 and i would lilke to persue real estate (wholesaling, investing, property management, etc.) part-time, moving into full time, hopefully in which i have no doubt that i can do it!

My problem is i want my real estate license at least a month before i get out (the real estate company that i intern for requires it and it would be a good addtion under my belt) so that i can really be put to work as a licensed agent before i get out and to get some experience. The military will be paying for the school but they will only pay for ONE certificate at all while i'm in the Air Force AND including with my GI bill when i get out.

My situation is the school that i will be enrolling into (100% free due to the military) has a program that they offer since the military will only pay for ONE certificate, i can take their property management and small business management course first (an 18 week course but it's self paced and they told me people usually finish in 2 1/2 mths) then they will waive the course fee for the real estate sales (since military won't pay for property management and real estate sales certificates) and i can take it after i complete the PM and small bus. course. Well, people tell me that most people finish the real estate sales course in about a month. My other option is to take real estate sales and small bus, with the military paying for it and i would have to come out of pocket for the property management which is like $1200. Well i'm trying to get the most out of my tuition assisstance with the military but i also want to have my license before i get out. I want to have PM certification too and have more education under my belt. I know i should have done these courses in the beginning of the year, but i was listening to other people who said it's a waste of time to become licensed if i want to mainly wholesale and invest, investors don't deal with agents so why become one, the agents way of thinking about real estate investing is clueless and you will be taught the wrong ways, and other mixed opinions feelings that i received. I've came to my own conclusion that being licensed would'nt hurt me, i can receive my own commissions, and plus it's free education for me so why not?

To all ,which route would you personally take? Also my schedule at work and home allows me to be able to finish my work before the 18 wks course and 63 hrs course but i'm not superwoman. I'm very motivated to get this done and i wouldn't have a problem getting the work done early. Please give me your thoughts about what should do given that i want my license before i get out. Any responses would be appreciated, Thanks.

BossLady,

I once had to cross the same path you are now taking. I wanted to get into investing and didn't really understand the business. I thought a great way would be for me to obtain my Real Estate License; I would be able to sale properties, list properties, learn the area and network with people. This was all fine and dandy until I realized all the courses you have to take throughout the year to maintain a license, and the laws and regulations you have to abide by, even though you want to wholesale. RE Boards want to have ethical licensed holders and not all the time do they feel us investors are ethical. Keep that in mind, when becoming licensed. I do not have an active license today, I let mine lapse as it wasn't needed for what I had in mind.

Follow your heart, if you feel the need to take these classes, go for it. Education never hurts! If you learn being an agent isn't for you, let the license lapse. At least you can say, I tried! So the short version is...GO FOR IT! It can't hurt yah, only make you stronger.

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You can roll with me or under me. I don't care which one you choose! - - "me"

So flipitbig,

Would you do think the property management and small business management course would be most beneficial than real estate sales in your opinion?

I am a woman who has spent 20 or so years doing real estate in 5 States..so I know it's a GREAT mobile career..I got into real estate because I got misled early on by an Attorney who "forgot to check taxes, title, etc..I worked for attorneys and found out I could make more in one year than they did ..So Go for it..However, I would do this..The real estate courses are relatively inexpensive for licensing. I would decide where I would be settling down..and do an online course for that State(under $200.) and see about getting licensed..Very easy and inexpensive way to go..
I would have the military then pay through GI bill for a good business curriculum for property management, sales, etc. at maybe a community college or through their program. Most colleges accept military curriculum. I would get to work with a good property management or real estate company when I got out and see the field and where you want to be. REO bank would be good for right now as that is a HUGE HUGE area and will be for the next two or so years. Jan. 2009 looks bright..But $1200. sounds like a high fee..Just get licensed and work from there..
If you need mentoring..just email me..elizabethlaird@hotmail.com

The "free education" you get from the real estate agent course is just that, how to be an agent. My wife got her license for our investing and it has helped out tremendously, mainly saving on commissions and MLS access. She is also starting to dabble more in the realtor side of things since our investing has been slow.

I don't think a license is necessary to invest, but it does help. You do have continuing ed and a lot of costs that go with having a license, but if you plan on doing a lot of business it's a small price.

My two cents, keep the change.

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Thank you for being a part of the FIB Team!

This is a long standing argument from an investing standpoint. Those that invest while having a license say there is not a problem and those that do not have one say you don't need one.

I agree with G do what you think you need to do.

One thing to remember is to study the state laws where you are going to operate at and remember that all state laws are similar buy some have paculiarities that may make investing a little more difficult. Like for example pre-foreclosures in some states, Realtors cannot go and knock on doors and try to buy at the payoff or lower. They can however negotiate for other people to buy via short sale. Just research the area and the states laws.

Also remember that a license is to protect the uneducated from those with superior knowledge, which once you have a license you will be...............FOREVER!!!

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Steven Brown
Cash 4 Houses, LLC
HomeVestors
Mobile, Al
251-366-HOME
steve.brown@homevestors.com

Investing and being a licensed agent brokering deals are not very related.

Education is good. The courses will cover what you need to work as an agent (property manager or sales role). They will teach you almost nothing about investing. Most agents do not invest and most investors do not have a license. There is a reason. You can be part of the group that does both but that is a niche group.

If you want to be an agent understand it is all about customer service, chasing details, managing people's emotions and a bit about the property. Having great people skills and enjoying To Do lists will really help.

If you want to be an investor consider a different career as your full time job. Something that provides a salary so you will find qualifying for a loan much easier. Being in real estate sales will make it hard for you to get a loan until you have 2-3 years of tax returns showing your income from RE sales.

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John Corey

Real Estate Investor (REI) with over 20 years of experience.
Multiple states and countries; present portfolio spans 11 time zones.

Always open to answering questions. See the contact page on my blog; link below.

Pay it forward.
www.ChelseaPrivateEquity.com/blog