Mark, Home Buyer in West Palm Beach, FL

HOW CAN I MAKE MONEY IN REAL ESTATE WITH NO LICENSE?

Asked by Mark, West Palm Beach, FL Wed Aug 6, 2008

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23
I agree with all of the previous answers, with maybe the exception of being a receptionist :). However, this is not a market for novices. If you are looking to buy foreclosures or REO properties for rehab,etc, do a google search for some real estate clubs in your area. They usually have monthly meetings and you can learn from the pros, as well as develop some great contacts. In my opinion, Ted has given you some great advice if this is the direction you are looking to go in.
2 votes Thank Flag Link Wed Aug 6, 2008
Mark,

By buying, rehabing, and selling bank "foreclosures." The key is to be able to identify the right homes, in the right locations, offered at the right price.

Good luck,
The "Eckler Team"
1 vote Thank Flag Link Wed Aug 6, 2008
Mark,

I presume that you are eluding to some type of real estate investing, right? If so, your best opportunity, in my humble opinion, is to focus on short sale (pre-foreclosure) & REO (bank-owned) properties with the intent on holding & renting (at least for now). Know your financing numbers, holding/reserve costs and the market value (for both sales & rentals). You want to ensure that you can create positive cash flow until such time values begin to increase again and you decide to sell the investment.

I also recommend that you consider hiring a full-time exclusive buyer's agent who knows your market well and has experience working with short sale and REO transactions. Best wishes - Ted
1 vote Thank Flag Link Wed Aug 6, 2008
TED SHOOP, Real Estate Pro in Buford, GA
MVP'08
Contact
If you buy and sell real estate as a layperson, you can make money. Without a license though, you are not allowed by law to "practice real estate"... check out http://www.myFlorida.com for information on what you can and cannot do, what's involved in obtaining a Florida license, etc.
Web Reference: http://www.myFlorida.com
1 vote Thank Flag Link Wed Aug 6, 2008
I also would like to be an investor in real estate in the Commercial market but am trying to get my real estate license. It is more time consuming and costly than I thought!
The point of trying to get my license was really Only to purchase real estate! How do I find a partner who will put up capital to do this?
0 votes Thank Flag Link Fri Aug 14, 2015
This is a very popular question. It used to be easy in the past but laws have changed making it increasingly difficult to do most real estate profit-generating transactions if you don't have a license. I was also looking for the same info including reviewing this site: http://www.badcreditapartments.net/apartmentguide/

Let me know if you come up with an answer
0 votes Thank Flag Link Tue Feb 17, 2015
With or with out a license, flip short sales.
0 votes Thank Flag Link Wed Jun 30, 2010
That was a good question for 2008.

but today's question has morphed into "How can I make money in real estate WITH a license?"
0 votes Thank Flag Link Wed Jun 30, 2010
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Try buying, rehabing, and flipping bank foreclosures. The most critical issue is being able to identify the right properties, in the best locations, offered at the most aggressive price in the shortest possible time frame.
0 votes Thank Flag Link Wed Jun 30, 2010
This question is almost 2 years old.

So Mark - if you're even still out there, which I doubt -- have you made any money yet?
0 votes Thank Flag Link Tue Jun 29, 2010
I like the few recent answers! How's this?
0 votes Thank Flag Link Tue Jun 29, 2010
I agree with all the the varied answers presented here. But you have not stated if you wish to make money by 'selling' real estate or by working in the industry. Please clarify asnd you will get even more illuminating answers.
0 votes Thank Flag Link Tue Jun 29, 2010
You could flip in this market but it is sometimes difficult to get the appraisal to come in favourable esp. FHA loans as consideration is given to the price in the short term
Web Reference: http://mypbchomes.com
0 votes Thank Flag Link Wed Dec 16, 2009
Who says you need a license? what's that going to do for you expect brainwash you into listing properties instead of flipping them for more money. The only thing you need a license for is to get access to the MLS, hook up with a great Realtor, perform as promised and you build an amazing relationship and quickly gain access to the MLS through them. Stick with flipping short sales, wholesaling Sub2 deals and don't listen to the Realtors that don't have a clue to what they're talking about when they say you can't do this or do that, it's only because THEY can't do it.

Get out there and make some money, let the Realtors scrounge for change with their little 3% :)
Web Reference: http://subject2.com
0 votes Thank Flag Link Wed Dec 16, 2009
Buy and rehab and sell, If you like Real estate then it would not hurt to get a licence as you can stumble on a buyer or seller and make a sale. The fees are a bit high annually so you would have to do a few sales to make it work part time.
Web Reference: http://mypbchomes.com
0 votes Thank Flag Link Wed Dec 2, 2009
Mark,
The options for making money 'related' to real estate are nearly impossible to list. Without actually holding real estate you may consider note refinancing (NOT mortgage refi or modification) or purchasing tax certificates. If you are incliined to hold property, consider paying up to join an association that purchases bulk volumes of bank owned properties. These margins will allow you to utilize professional marketing services to get a quick sale when it is ready for market. These are exciting times to be in real estate.
0 votes Thank Flag Link Wed Dec 2, 2009
Hi Annette,
Can you please clarify any associations in the Largo, FL area?
Flag Fri Aug 14, 2015
Almost all answered by a Realtor. Save some money and learn Lease Options, wholesaling, Sub2's and many more which require no licence. Visit just this site to gain your own opinion below, Aviod the late night TV Guru's though.
Web Reference: http://www.reiclub.com
0 votes Thank Flag Link Sat Aug 23, 2008
If you do not wish to get a license then why not look into rehabbing some properties that are in not so good shape and offered at a deep discount? There is risk involved, as with everything, but the reward can be nice. Key is to identify those properties that are in a key location and offered at the right price.

Javier Olmedo, ABR, GRI
Florida REalty of Miami
786-395-6986
Web Reference: http://www.olmedohomes.com
0 votes Thank Flag Link Sat Aug 23, 2008
Hey, look ho w easy it is to get a license!
http://www.realestatewhistleblower.org/Untrained-real-estate…
0 votes Thank Flag Link Thu Aug 7, 2008
There are many ways... You could work as an unlicensed assistant. As an Investor, Inspector, Stager, etc.
0 votes Thank Flag Link Thu Aug 7, 2008
You should seriously think of getting a license. If you like real estate go and get a license you will not regret it. Call me if you need help. 908-770-5999.
Web Reference: http://www.9realtor.com
0 votes Thank Flag Link Wed Aug 6, 2008
Getting your license is a good investment. The class is relatively short, but the real learning starts after you hang your license with a broker--that's when you really start to learn how to be a realtor. Just be prepared for it to take at least a year for your business to grow!! It is not as easy as it might appear. If you have a lot of money to invest, you can invest it now and probably get a pretty good return on the dollar down the road.
Web Reference: http://www.MykeTriebold.com
0 votes Thank Flag Link Wed Aug 6, 2008
Receptionist, unless you invest now!
Web Reference: http://www.CCLists.com
0 votes Thank Flag Link Wed Aug 6, 2008
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