Ok. I live in New Jersey. I have a full time job that is smooth, and I go to school part time. On the weekends I had a part time also. But I want to get into something else part time. And I'm not really willing to leave my regualar job.....yet. lol. I know the market is down, and who knows when it will pick up. I live in North East Jersey, and a co-worker gave me a brochure for a list of schools. I can get my training in 5 weeks and be done by August. My question is, will it be worth it? I know of a couple of people who've done it and are sooo sooo good at it and yea,....they have MONEY. lol. I want to make money on the side. My financial advisor suggested selling insurance, but I dont know about that. He said the market is saturated with Real Estate people so I don't know. Some say go for it, others say don't. I just need to make some extra money. More than what my part time job offers. And my degree is still a few years away. I mean something for now. Please help. Thanks =)
Carlos, There are many diffrent things to do in real estate. Maybe you should talk to a realtor, broker, wholesaler, short sale service rep., contractor / rehabber, property manager, private lender, underwriter, appraiser, inspector, etc. Many different people for many different aspects like subject-to deals, homes in foreclosures, note buying, wrap notes, wholesaling, etc. Also, look into a few books as well. Hope this helps.
Hi Carlos, call a few broker's in your area, and ask them for a meeting to discuss whether RE make sense for you. What you learn in 5 weeks of real estate school teaches you absolutely nothing about the working relationship of Brokers and agents. For example who pays,Errors and omissions insurance, MLS dues, NJAR fees, and advertising fees? These are just a few of the various expenses realtors incur while running their business . I'm not trying to tell you don't do it, I'm just directing you to a better place than this forum to ask more insightful business questions.
Real estate is tough to do part time, most of the part timers I know are not doing very well. With so many Realtors out there, it is a tough gig for a part timer. Unless you have a bunch of family and friends that would use you to list their house and sell them property. If you have lived in your area forever, know a ton of people that would use you, it could be a worthwhile venture. Remember, RE is one job that you have to pay to do.
I agree with godged. It's very tough to work real estate p/t and be even remotely successful. A good way to get a feel for the business is to work as an assistant to a successful real estate salesperson (not a receptionist in a brokerage). The wages will be crap, but you're there for experience. You want to find out if you're cut out for RE, and this is a great way to do it. Checkout CL for positions or be a real go-getter (you are one right?) or call brokerages and ask for their top producers who might benefit from an assistant. RE people are making less money now, so he/she will be worried about overhead. Offer to do it for 3 months for minimum wage. Then they can evaluate and see that having you around helps them make more money. In an ideal world, you'll get your license and start working their open houses, working their lower priority listings, and basically partner up with him/her to break into the game. Good luck!
one okorder and enter the forums, you will see all the people that are currently involved in this market and see the types of deals they are doing and the methods they use
