Real Estate License - Posted by Tamika

Posted by Rob FL on January 04, 1999 at 19:32:51:

If I were starting out again, the first 2 books I would read are “Rich Dad Poor Dad” and “Richest Man in Babylon”. After that I would decide what area of RE I am interested in (probably something to put cash $$$ in the bank first as a nest egg likes flips or lease options), and buy some books and courses covering that area of RE.

As for the license (I have one), but I wouldn’t recommend getting one until you have done a few deals. You know get your feet wet, make sure this is something you really want to do. You can make some serious bucks but it takes hard work and perserverence.

my .02

Real Estate License - Posted by Tamika

Posted by Tamika on January 04, 1999 at 01:53:05:

I purchased Carlton Sheets program several years ago and never put my interest in investing to work. Many years later I am still interesting in getting starting in the Real Estate investing business.

I am so glad that I stumbled upon this site…I have spent countless numbers of hours reading info here and am becoming clearer about the strategies.

I am a teacher by profession (that is the reason that I need to invest in real estate…I will receive personal satisfaction from my chosen profession but not financial satisfaction!).

I want to read everything to broaden my knowledge about the strategies that will help me become a seasoned investor.

My question is what books do you recommend and does any one believe that it would be helpfull to me to get my Real Estate license to help me in the business; that is my next goal and I want to know if it would be helpful.

All advice and responses welcomed and appreciated.

Thank you in advance for your responses!


Re: Real Estate License - Posted by Tom in FL

Posted by Tom in FL on January 04, 1999 at 22:57:27:

Well, I’ve been advised by the local guru’s here (Ft Lauderdale FL) NOT to get a RE license. The reasoning being that it doesn’t buy you anything you can’t get from a friendly agent and it could stir up quite a bit of trouble for you… especially if you do “Creative” deals. As long as everything goes ok, there’s no problem. But as soon as someone thinks they should have done better than they agreed to… you will be considered (with a license) an “expert taking advantage of poor Joe seller… or Joe buyer”, as the case may be. If you want the seller to take a 2nd mortgage for instance, they have to sign a subordination agreement. As a private party, you are just a guy buying a house, but with a license, now you’re the expert. Anyway, just thought I’d pass it on.

Re: Real Estate License - Posted by Kelly

Posted by Kelly on January 04, 1999 at 21:54:59:

Like you, I also bought Carleton Sheets course a few years ago, and I didn’t put it to much use either. I think I may get it out and look it over again having found this site and gotten interested again. I just purchased Lonnie’s books and think they are great, they have so much information and alot easier to understand than CS. I know I can actually follow thru with what Lonnie says. As for the real estate license, I have also been thinking about that. Classes here start soon and I really want to sign up but Im not sure how useful they’ll be either. Good Luck, Kelly

Re: Real Estate License - Posted by Tom in NE

Posted by Tom in NE on January 04, 1999 at 08:49:44:

You may have seen it in a previous post but I’ll say it again “Nothing Down for the 90’s” by Robert G. Allen
is a great book on REI.
Get your CS course out of the closet, there’s alot of good stuff in there also. I just recently blew the dust off of my copy. After reading a few posts from this group I got excited all over again.
Good luck & hope to see your first deal here soon, hope to see mine too

Re: Real Estate License - Posted by Rob FL

Posted by Rob FL on January 05, 1999 at 18:17:39:

Three big things I can do with a license that I can’t do without a license.

  1. I can sit at home 7 days a week 24 hours a day and at anytime I want can look for properties, comparables, etc., etc. I have my MLS computer actually run specific searches daily for fixer-upper properties. You would have to have a very patient realtor to put up with that very long unless you were buying properties constantly through him.

  2. I can go out and look at properties without having a realtor present to walk through with me. Do you really want a realtor to have to show up when you go look at 10 or so properties on a weekend? Not me. I have my own realtor key and can set my own appointments.

  3. I get to keep half the commission when I buy and another half when I sell. Saves thousands in profits.

Disclosure is a necessary evil, but I usually just casually mention it when I buy and then disclose it in writing in the contract when I make an offer. When I sell, they already know a realtor is involved because they see SAND DOLLAR REALTY on the for sale sign. And it intimidates the heck out of tenants when they want to rent from me. They know that I know my stuff and if they mess with me I will have them evicted quicker than they can pack their bags. (BTW I haven’t had to evict a single one yet)