This show has created more financial freedom for busy people like you than nearly any show in the world.Wealthy people's money either starts out or ends up in real estate. But you can't lose your time. Without being a landlord or flipper, you learn about strategic passive real estate investing to cr… read more
#115: Obtaining your RE license isn’t that difficult in many states. Would this help you land deals for income property?
Yes, and there are tons of other benefits...and drawbacks.
Kevin Cross of Foundations Real Estate Experts is a savvy real estate investor, licensee, and former President of the Anchorage Association of Realtors. He tells us the advantages and disadvantages of getting your RE license.
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Listen to this week’s show and learn:
02:06 Keith likes BombBomb.com video-e-mail service and the Blinkist.com condensed reading app.
08:11 How can getting your RE license help you get into the deal flow?
12:20 Saving yourself the agent commission - and using that as a down payment.
15:06 The benefits you realize as an agent when you build a network of home inspectors, HVAC companies, roofers, etc.
18:27 When you sell property, act as your own agent. Referral fees.
24:59 Licensing requirements - educational hours, exam, licensing fees. Often $3,000 - $5,000 out-of-pocket to start.
26:55 Difficult to be a “part-time” agent.
28:48 You don’t get paid for 90 days.
31:16 Fiduciary responsibility and disclosure.
36:42 90% of sales are made by 10% of agents.
37:11 Do you split your commission with your broker? Must you have an office there?
41:06 After marketing fees and dues, agents earn about 1.5% per transaction.
Resources Mentioned:
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