However, understand that real estate investors and Realtors have two entirely different approaches and outlooks. I started off as a real estate investor. Then, later, I became a Realtor. Part of it was for access for the MLS. But mostly it was to understand the Realtor mindset and Realtor language.
Again, they're two entirely different worlds, with two entirely different sets of expectation. Let me give you just a few example:
As an investor, you know that you might have to make 10, 20, 30 or more offers in order to get one accepted. And that's OK. But a Realtor hopes that every deal will go through. If a Realtor, working as a buyer's agent, makes 5 offers without one acceptance (or counter), that's pretty much a failure.
As an investor, you've probably been taught that if you're not embarrassed when making an offer, you're offering too much. Realtors, on the other hand, don't like to make embarrassing offers. And they worry that if they do make low offers, word will get around among other agents.
As an investor, you've been told to make sure that the contracts you sign with sellers are assignable. Most standard real estate contracts don't allow assignments and if you try to get that clause stricken, your broker is likely to tell you not to do it or that it's not being fair to the parties.
As an investor, you might be hoping to focus on lease-options and subject-to transactions. Ask many Realtors, and they'll insist that lease-options are lose-lose propositions and that subject-tos will trigger the "deadly" due-on-sale-clause.
I could go on. But you get the idea. What you've been taught as an investor isn't wrong. In fact, it's generally right. But you won't find support for a lot of it within the establishment real estate community. And that's OK so long as you understand (or are willing to learn) that.
A couple of tips for finding a mentor--if you're still looking. Ask them how many deals they've done in the past 6 months. And find out where. Though it's true that a lot of techniques will work many places, you don't want a so-called mentor who is only familiar with, say, Salt Lake City.
True story: A few years ago, I had a so-called "coach" who advised me to call ads in the classifieds placed by agents. I was to call listings for moderately-priced homes, and to ask what financing the sellers currently had in place. At the time, where I am (Northern Virginia) a moderately-priced home cost $350,000-$400,000. I called a bunch, and on my weekly coaching call, my "coach" ripped me a new one (if you understand), saying I wasn't supposed to be calling upscale properties. Where she was, moderately-priced homes were $100,000-$150,000. You could buy a mansion for $400,000. And that question about financing? Maybe agents know and reveal that information elsewhere, but I uniformly ran into a brick wall when asking local agents. Bottom line: That coach may have had success with students elsewhere, but local conditions and customs DO matter.
Get involved with your local real estate investment groups.
And, as I said, there's nothing at all wrong with (and plenty of things in favor of) becoming a real estate agent. Just understand the pros and cons of doing so.
Go on the CMPS (Certified Mortgage Planning Specialist) website. Find someone local that you can talk to about your objectives.
The CMPS wil guide you as to much you can afford and how to pay for the property that you and your Realtor want to consider as part pf your portfolio.
Do you believe that lease-options are lose-lose propositions and that subject-tos will trigger the sale-clause? When you were an Investor did you have any success in those two areas? You mention that you had a so called "coach" what makes you refer to that individual that way? Did you learn from the person and how did you find the coach? I must admit I am timid about taking action on my own it being my first time, I want a mentor. Great advices about the book I will ask a Realtor I came in contact with. THANK YOU ALL AGAIN!
Do you think that some of the people haven't made any mestrakes?
You sound like you've got the "people" skill down and now you have to work on the "techs" and "details".
If you want to become a Realtor, do it! But that doesn't sound like what you want.
If you have a friend who's a Realtor, ask to borrow their book, "Real Estate Principles". It will train you in the details and you will at least learn the correct questions. The answers will follow.