Real Estate Licence

[drd]

Hi,

I am from Australia and am new to the Young Entrepreneur forums. I have a keen eye on property and investing in property and would like to get heavily into it and am about to leap into the property game with my first investment.

I have read a few books about investing in property and real estate and am strengthening my knowledge.

I was just wondering if it was worthwhile in doing a real estate sales or property management course and obtaining a real estate sales or property management licence? I was seriously looking into studying towards one.

Do you think it will be worthwhile or should I just stick to the books and continue reading more expert investor publications?

Thanks.

DRD.

[akula]

first of all, forget residential property

do commercial property, including infrastructure trusts

ideally, do property transactions for investment banks

secondly - stop reading, and start doing

get a job with a commercial realtor and try to make your way to B&B, MacBank, or Goodman

[Aletheides]

Commercial property flucuates differently than residential property. Since there is usually always a solid demand for residential units (more people need more places to live) I would suggest starting with residential.

I remember when I first started studying real estate I didn't know what a mortgage was. Now I've read countless books on residential real estate techniques, strategy, creative financing, and what-not. I recommend authors like Robert Bruss, Carlton Sheets, Russ Whitney, Robert G Allen, and Robert Kiyosaki has some good stuff to say. Take a few key ideas from every different author.

I've thought about getting a property management course just for the education. I would recommend it because it's knowledge you are going to use from tenant to tenant (if this is what direction you are going with it).

A real estate license isn't necessary. I think it might even restrict you a little because of disclosure legalties or whatever, but come to think of it it's probably different for you in Australia.

[ttfing]

Yea, as an agent in the states, you are limited in your buying abilities. Although, not usually alot. I think it mainly depends on the broker you work for. Some will limit your own personal buying. If you don't take the exam, then I recommend at least reading a couple exam books first, or better yet, taking the classes. I have learned so much information from them, it's incredible.

[mikeanders87]

Also, if you are going to become a real estate investor, establish a good source of funding be it from a mortgage bank or a broker. Knowing that you have the financing to back up your deals is definitely important.