Drive down the street in any city, and you’ll most likely see a handful of “for sale” signs on many blocks. If you’ve ever wanted to invest in real estate, these signs might poke at you, begging you to come inside and see how you can make an investment and start flipping homes.
But how do you make these purchases—or make money in real estate—if you don’t have a license? People like Tarek and Christina of Real Estate Elevated were real estate agents before they started flipping homes, so they had a head start when they flipped a house. Having a license does give you an edge in the industry, but the truth is, you can make money even if you don’t have a license.
Find a Trusted Real Estate Agent
Chances are, you might have a friend or two from high school, college, or life in general who are agents. This thought should be a no-brainer, but many people think asking help from an agent is taboo.
It isn’t!
Real estate agents have access to a plethora of tools to help flip homes, like multiple listing services, or MLS. If you don’t have the time or money to get a license, partnering with an agent can help you locate homes that fit your budget and goals. With the MLS, they can be looking for promising listed homes that you can flip. You will have a smaller return on your investment, but you’ll also have experts on your side who can get your property listed quicker.
Short-Term Rentals
If you’re in a part of the country that’s essentially a “seller’s market” you shouldn’t be looking to invest in long-term homes. This could lead to a flop of a flip and leave you with loads of debt. Instead, look at flipping rental properties in your area.
People are always looking to rent—not everybody can afford a home. This allows you to seize a great opportunity in rental properties. This also works with vacation homes. The rise of vacation rental sites gives you a chance to list your rentals throughout the year. As more and more vacationers look for alternatives to hotels, your home gives them that alternative.
Focus your search to flip homes in cities, college towns, or popular vacation areas. You could find a great opportunity for an investment.
Working with Wholesalers
Wholesaling houses is a remarkable way to invest in real estate if you don’t have a license, and you won’t need a lot of capital. Wholesaling means professionals locate homes in the area that are undervalued. They then put them under contract. Under these specific contingencies, the owners assign the contract to another buyer within a certain amount of time—a very short amount of time.
Wholesalers seek buyers who are willing to pay just a little bit more than the price under contract, keeping the difference as profit during the closing process.
Call wholesalers in your area and see if they have a deal on a home you can flip. This is a win-win for both parties and gives them confidence in you to send you another flip later on.
These are just three simple ways to make money in real estate if you don’t have a license. Attending Tarek and Christina seminars can help you understand more of how the market works, especially if you don’t hold a license and aren’t familiar with specific real estate practices. These seminars are the perfect source of knowledge to help you get in the game of real estate investment.
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