Are you interested in making a bushel of money ?
I mean so much that:
Spending $500 on a bottle of wine means nothing to you…
Prices at restaurants or money spent on a vacation no longer matter…
Taking care of your family is not even a concern…
You can do what you want when you want because you are financially free.
If you’re not interested in designing this kind of lifestyle…well… you’re on the wrong page because at the Better Tomorrow Group we are interested in teaching our followers how to create MASSIVE wealth through Real Estate.
I’m sure if you’re reading this you are too and either:
A) You’re in Real Estate
B) You’re thinking about getting into Real Estate
There are really only 4 assets after-all…
- Business – starting your own business
- Real Estate – NOT your personal house.
- Stocks/Bonds – blah
- Commodities – things like owning oil/gold/silver
So you’re on the right track by looking into or being in Real Estate.
But the truth is that Real Estate is much harder to get into then anyone has ever told you…. and that’s a good thing.
It’s a good thing because – if it was easy to make wheel barrels full of money in Real Estate… everyone would do it and there wouldn’t be any money in it!
It’s an acquired specialty skill that not many people have or take the time to learn (the key here is take the time to learn it).
Yes there are many other ways to make money in Real Estate: lender, investor, escrow, title, agent etc…
The BIG money is in Real Estate investing.
Not transactional income (1-3%).
Everyone knows it.
But that doesn’t stop the question that many Real Estate Investors- beginner and advanced- have…should I get a Real Estate license?
Many investors think about getting their Real Estate license, it comes with the territory….
After-all having another source of income from doing the same business you are already doing is how you bring in multiple streams of income…why wouldn’t you want more income streams from doing the same business you are already doing?
So should you get your Real Estate License?
For the record you don’t need your Real Estate License to invest in Real Estate because you are dealing with your own property (or your name is on the contract when wholesaling so you are considered an “owner” of the contract).
When you own property you are free to sell it because it is considered your personal property.
When you start selling property that belongs to someone else, well that’s when you actually are required to have a license…
So if you are thinking about getting your Real Estate license let’s dive into the pro’s and cons’s of having a license as an investor.
Earn commission – this means you can earn commission on your buys (if the property is listed with an agent) and/or when you sell the property. This also helps on deals where you are in a partnership. And can bring in an additional source of income if you become the listing agent.
You have MLS access – no longer requiting the help of a Real Estate agent to get notifications of new properties on the market
You can get into MLS homes on your own– for properties listed on the MLS, you can go look at them without having to coordinate with another person’s schedule
You are able to get legal referral fee’s from deals that you don’t buy and refer out- If you get a lead that is not a flip, you can refer it to a real estate agent friend and they can legally pay you a referral fee since you have a license.
People take you more seriously– When you are starting out, especially if you have a license people take you more seriously because they know you’ve spent the time to get your license
You have to tell people you have a real estate license – which may affect your ability to close on a property you are trying to purchase off market
There are more guidelines to follow– since you have a license you have strict rules to follow
You have more fee’s to pay– licensing fee’s, insurance, brokerage fee’s etc…
Your advertising materials are affected by laws-You have certain laws to follow for advertising
You may get sucked into being an agent– it’s hard to say no to money when people ask you to help them buy/sell their house because they know you are in Real Estate.
These are only some of many pro’s and con’s.
You’ll have to decide yourself if you want to get your Real Estate license or not.
So do this:
Grab any piece of paper. Write Pro on the top left and Con on the top right. Then draw a line down the middle. Sit for 20 minutes in silence and think about your pro vs con list yourself to help you decide.
Just remember you don’t need a license to invest in Real Estate and make purchases.
If you want to learn more on this topic and get the exact blueprint for how a multi-million dollar Real Estate investment company runs CLICK HERE – 7-Day free trial included…
That’s all for today!
Chris M Cordova
CFO Better Tomorrow Group
Chris is an active investor, Realtor, Broker, marketer, serial entrepreneur, and co-founder of Better Tomorrow Group. Follow Better Tomorrow Group on Instagram@bettertomorrowgroup on Twitter/Periscope @TheBTgroup and Facebook at Better Tomorrow Group. If you would like a FREE copy of Flipping Your Thoughts On Flipping Follow this LINK.