Does anyone have their own RE License

on here that are also investors. As a realtor though you have rules and guidelines you have to follow. You must disclose that you are a realtor for example.

It is also good to fill out your profile so others can connect with you and know which area you live.

Thanks for the tip... just filled out my profile.

That's a good point about the guidelines. Thanks!

Hey Sara,

that exact same topic was in a forum a few weeks ago. You might want to find it, because there were several good comments in it.

Good luck to you.

Thomas

Sara,

Tammy has a point when you acquire your license,not only do you have to disclose you are a real estate agent/investor. You have to clearly state your position. Are you the buyer's agent ? Are you going to work on the seller's behalf? And you must not in my opinion deviate from the letter of the laws. because Lawyer's are litigiously inclined for suing and vice versa very apprehensive to engage in anything that may bring litigation to them. Because being brought to court is not only time consuming it is also expensive.

Now the choice is ALWAYS YOURS, I for ONE sat on Dean's books and investing and Persued the conventional way of real estate. By becoming an agent, I became licensed in my home state of NY specifically NYC and I clearly was instructed the rules and guidelines. And was faintly informed what is taught is not necessarily followed. Also as an agent you can not steer clients to a particular area,or disenfranchise a particular economic class of people.

Furthermore, the Law will look at you in a different light, because you will acquire superior knowledge more will be expected from you. You are held to a higher degree. As investors we are not always aware to the laws or changes of them. As an agent you Must continue Educating yourself before you are allowed to renew your license. Now there are many perks to becoming licensed.

And you can acquire these perks by inquiring to a school of your interest. Not only that you can become aware to things that the general public does not know. For example when we were instructed to go to REI Clubs that is an advantaged shared by both parties and not by the public at large. Also you will acquire more connections, more understanding of the process and finally your confidence to negotiate will vastly improve.

I know I am long winded in my response but my intentions is to inform and present choices

I did not take the time to go that deep. Thanks!

Thank you so much for the explanation, not long winded at all. I got a lot out of it.

I didn't understand the 4th paragraph very well. Not sure if this is what you meant: Is it possible for me to take the class and not the test?

You made some pretty good points. Out of all the things I can do I want to be an investor more than anything, so if the choice is to pick between them, I know what my choice is!

Hopefully this helps

Of course you can take the course on becoming a real estate agent and not take the state exam .
And here's a cool trick I noticed depending the packages you take you can get future discounts on other classes.

Now in regards to your other Question

My fourth paragraph was this:

And you can acquire these perks by inquiring to a school of your interest. Not only that you can become aware to things that the general public does not know. For example when we were instructed to go to REI Clubs that is an advantaged shared by both parties and not by the public at large. Also you will acquire more connections, more understanding of the process and finally your confidence to negotiate will vastly improve.

And this is what I meant by it:

One of the benefits I found when I looked into a Real Estate School, was a class called "1031" exchange

What is a 1031 exchange you say? This is a following excerpt from investopedia regarding 1031 exchange......

Definition of 'Section 1031'

A section of the U.S. Internal Revenue Service Code that allows investors to defer capital gains taxes on any exchange of like-kind properties for business or investment purposes. Taxes on capital gains are not charged on the sale of a property if the money is being used to purchase another property - the payment of tax is deferred until property is sold with no re-investment.

Investopedia explains 'Section 1031'

The idea behind this section of the tax code is that when an individual or a business sells a property to buy another, no economic gain has been achieved. There has simply been a transfer from one property to another. For example, if a real estate investor sells an apartment building to buy another one, he or she will not be charged tax on any gains he or she made on the original apartment building. When the investor sells the original apartment building and purchases a new one, the value used from the original to buy the new one has not changed - the only thing that has changed is where the value is being held.

Source http:// www. investopedia. com/terms/s/section1031.asp

Usually in my experience these classes are taught by tax attorneys to educate what the school typically expects to have is returning real estate agents to further their education. However pay attention to the fact it is a School and by this only you can take the class even if you are not a Real estate agent.

This is an advantaged only available to those who seek it and real estate investors are not exempted so you can go in and ask when the next class is or if they have a class schedule available online that can save you the trip down there's remember either the instructor is a professional in the class they teach or they have engaged in such activity frequently.

Leverage their experience and ask questions this is why you paid money for the class in the first place. I for one would continue to do so. In my school I have bumped into home inspector teachers that teach home inspection classes. And they have various other courses. Remember the key here is to be so efficient and useful for your cash buyers that. Working with anyone else will be to much hassle.

I think the desire to get a license all comes down to the fact that it is extremely frustrating to deal with real estate agents. The theory behind the license strategy is to try to get the bull by the horn, so to speak. However, like others have explained before me, there are other issues that must be taken into account.

The problem with most agents is that they are all looking to make easy money. It's no fun for them to research and show 50 properties only to submit lowball offers with a "let's see how they react" attitude. Most real estate agents I know simply say it's not worth the effort and hours invested even if one of those lowball offers is accepted. From their point of view, low offers also equate to lower commissions. Since they get paid on a percentage of the selling price, they will only be doing more work for less money.

Real estate agents like to work with retail buyers. They don't lowball for one and often settle on the third house they see. Agents are in it for the money as everyone else is and if they sense their efforts are speculative in nature, they'll drop the investor quickly, often on the first phone conversation. Unless an investor can purchase 5 properties every month, don't expect much cooperation form either experienced or new agents.

This is fantastic! Thank you guys!

Joel, I did know about section 1031, thanks to the ABCs of Real Estate by Ken McElroy (maybe I didn't spell it right).
Theres a class starting mid October and I really want to take it. We'll see.

CaRE, that is exactly my point. Not only could I find my own deals but I could also go see them on my own.
However, I understand I should leave the searching on someone's hands so I can concentrate in other areas.

I am very torn!

CaREI, Having read Dean's 30 Days book, I am attempting to team up with a good agent so I can put in the 25 offers per month. Have you partnered up with someone, and what's been your experience?

Mrs.landlord we may never know who we inspire who comes on this page Dean created for us all who is still hesitant about investing, or who wants clarity.

Thank you for posting !

I wouldn't have known about it at all if I hadn't read the book, so I really appreciate you giving the detail.
It's pretty crazy all the information that's out there! Sometimes I catch myself thinking "Yes, but if I know this, surely most people know about it too!", but then I realize most people don't want to take the time to research and learn.

So I have decided not to go for my Real Estate License after all. I needed to choose between what I really want (investing) and the rest. After all, there's only so many hours during the day!

You are right

When I joined Insider Elite, and I became a gold member after a few months, I saw the hotel conference specials and Matt makes mentions how he would check an area for bandit signs and people would either not use them or if they did would not respond to the calls when they do receive it. Granted this is a major commitment of self and to others in come across on your journey. But this is what it takes to succeed.

I for one am an extremely cautions person when dealing with the law,properties and business at large. So although I move slow I move with confidence ,endurance and practicality

One of my cash buyers said he did ten times more deals after he got his license.