Thinking of getting a RE license. Looking for advice

[arkitech]

I've been unemployed since February of this year and I'm considering switching careers (IT) and pursuing a RE license. I've dabbled in RE investing for a few years now so I'm familiar with some of the terms and questions covered on the RE exam. Are there any current RE agents on this board? If so can you suggest to me different ways in addition to sales and investing that agents can earn money? I've heard that RE has many different ways to generate income if a person is willing to make the effort. Also with the current climate of the market I'm interested in hearing from current RE people and how they are doing. Thanks in advance for any info you can share with me.

[tatertot]

Real estate agents around here have mostly gone broke and moved into other fields.

A real estate license wouldn't hurt you, but I don't think being an agent for other people's deals is the best way to make money with real estate right now.

No matter which way you decide to go, the easy money with real estate is over. There is still a living to be made, but it has to be worked at now. (gosh, the wild ride was fun while it lasted)

[arkitech]

Real estate agents around here have mostly gone broke and moved into other fields.

Actually that's what I was kinda hoping for. I assumed with the market the way it is, a lot of agents would have to find other ways to survive. I just recently downsized since my layoff, I was able to use some savings and purchase a foreclosure with cash. So now I'm in a position where I don't have a mortgage and since I don't have any other debt I can get by with far less money than in the past. I've always loved RE and since I'm not working I thought this might be a good time to try and learn the business as an agent. If I can manage 1 or 2 deals a month and maybe doing a little PC repair work on the side when needed, I'm hoping I can make out OK.

[Bluemoon06]

You are actually in a great place.  Question: What gets in the way of a good life...Answer an OK life.  Question What gets in the way of a great life… Answer a good life.  A job gives people a good life.  Because they can’t shed themselves from that good life they can’t expand to have a great life.  That is the number one reason that really smart people never get rich is because they are so smart that they end up working and providing a good life for themselves.  They have a job with a good company with benefits.  They can’t leave that good life to get a great life.  You don’t have that anchor holding you down.  You have the advantage of all of us.  Unlike most of the unemployed you are smart, unlike the other smart people you now have time (and debt free).

That would be a very good thing to do, but try to make sure you don’t turn the real estate license into a job.  Try to use that license as a way to get rich, not to get comfortable.

[cdspeights]

I swear Blue, you have the best posts!

[arkitech]

You are actually in a great place.  Question: What gets in the way of a good life...Answer an OK life.  Question What gets in the way of a great life… Answer a good life.  A job gives people a good life.  Because they can’t shed themselves from that good life they can’t expand to have a great life.  That is the number one reason that really smart people never get rich is because they are so smart that they end up working and providing a good life for themselves.  They have a job with a good company with benefits.  They can’t leave that good life to get a great life.  You don’t have that anchor holding you down.  You have the advantage of all of us.  Unlike most of the unemployed you are smart, unlike the other smart people you now have time (and debt free).

That would be a very good thing to do, but try to make sure you don’t turn the real estate license into a job.  Try to use that license as a way to get rich, not to get comfortable.

Thanks for the motivating words. I'm excited about all the potential directions I can go into at this point, RE is definitely one of the stronger interests I have. My next goal is to become the second coming of Jimi Hendrix, althought that one might take awhile.

[MichaelQuarles]

Get your license... Pick a broker who will allow you to buy and sell your own property without a commission split....

When you get your license forget everything you learned because it wont apply .... Unless you need to remember how many square feet are in an acre... lol 

And remember buyers pay real estate agent commission no matter what the mainstream want you to believe... lmao

[short sales]

If I may suggest, go get yourself an in-depth short sales education program or the like. You'll never know when will it be handy.

[ericmedem]

If I may suggest, go get yourself an in-depth short sales education program or the like. You'll never know when will it be handy.

LMFAO Sorry I just got to laugh about that...Were talking about being a Realtor here and some dude by the name of Short Sale want's to tell you to go get a short sale course...Go figure

[Alan Brymer]

I've never been an agent, but I've bought a lot of houses without being one and I don't recommend becoming one just to help you as an investor.

If you're looking for a job, though, to pay the bills for a while, I wouldn't be an agent or take any other commission-based job.  Just get something secure that makes it easy to spend time each day doing deals and let your business be your risk/reward opportunity.

[WholesaleKid]

Do you want to show kitchens or make money?