Real Estate agents that are also investors...

I was wondering if anyone was a real estate agent that also currently do REI as well and could provide some personal feedback on it.

Pros/Cons?

Just obtained my PA license this past Tuesday. So far, it’s extremely nice to have access to the MLS. Already have seen some deals that wuold be worth persuing. Expired listings, first day on the market, etc. - it’s nice to see this kind of information. Also, I can schedule my own showings whenever I see fit which is very convenient. As long as you buy or sell one property a year, your fees should be more than taken care of. I plan on selling and buying more than that so hopefully it will work out well. The agent I used to deal with was good, but I would always do all of the leg work in finding the listings anyway but I would have to ask her for more info and now I have all the extra info right at my fingertips.

Congrats on obtaining your license!!

As with any process, It is always nice to trim out any extra steps/contacts. Best of success in your endeavors.

jparkx1

There are two types, agents that do some investing, and investors that do some agenting.

I was an investor for 10 years before I became an agent. Becoming an agent allowed me to make money off prospects I couldn’t help as an investor plus the MLS and broker status helped swing many deals I may have lost just being the investor.

Still about 80% of income was from investing side. Being an agent allowed me to expand my investing side.

I am planning on getting my license within the next couple of months just to understood a little more on investing. Plus it will get me in a better networking relationship with mortgage brokers, investors, and the real estate community in general.

I have had my license for the past 3 years, and it has actually helped me with most of my investment deals. You do have to disclose more information, but as long as you are honest and upfront it will benefit you. I also enjoy spending hours weekly looking at the MLS (expired listings, new on market, you name it). Previous posts were right, as long as you close one deal a year under your license it will pay for itself. I also find it interesting working with First Time Homebuyers and trying to help them drive down the purchase prices and starting them out with equity.

Joe

Before the real estate bubble burst, there was an agent in my area who routinely advertised that if he could not sell your home, he would buy it himself.

I bet he got a lot of homes as an investor at good discounts to FMV.

Yes there are several real estate agent that have idea in investing so if you want to look for them start searching now on the internet.