Hi everyone, although I’m a new member, I have been poking around at these forums for quite some time. I’ve always had an interest in Real Estate Investing, and I eventually plan to make a career out of it. For the mean time, however, I’m 19 and have no capital to put down on a rental property. I’ve always been excellent at sales, and am wondering if a career as a Realtor would be a good way to get my foot in the door as an investor in the future. Would there be any negative consequences for an investor with a Realtor’s license? I apologize for sounding so inexperienced, but I am, and I’m trying to get my career goals figured out here. Thank you for your time in reading my post.
One negative I could think of is when you’re making low offers on properties. As an investor, you can just submit a low offer. As a Realtor, you will have to disclose to the seller you are a Realtor. So as a Realtor, you will have a professional opinion of the property’s value, but your offer may be much lower than that. Imagine telling the seller, “My professional opinion of your property’s value is $75K, but as an investor I’m prepared to offer you $18K.”
If you do not represent the person you do not have to give them your professional opinion. But the disclosure is a problem. When you are selling property that has a problem you need to disclose that property while as a layman I may not know that the fact that I have to patch the drywall every 2 months and I can’t get the doors to close is a problem with the property.
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As an agent myself - you just come across deals. Period.
If you’re going to run a real estate agent business - what’s going to happen is you’re going to be a Realtor - first. Whatever your specialty is - that’s what you’ll be.
Now - you’ll get involved with others in the mortgage biz and legal biz. You’ll meet heavy hitters - people who know how to make money. Not necessarily “rehabbers” or struggling landlords. I’m talking people who know how to make money from essentially nothing.
You’ll put a few deals together - and bam - you’ll find there are multiple ways to make money.
It’s not like you’re going to be a Realtor and just one day say, “okay now I want to be an ‘investor’”. Doesn’t happen that way.
Wow, thanks for the opinions and advice everyone. Your responses gave me more confidence that earning my license will be a good start to what I hope to make a career.