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I am considering doing this part time. People told me I'd be good. I want to check with the community to see what everyone else thinks?
Posts: 11895 | Registered: Apr 2002
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I just took the real estate course in new york state. Both the state test and class test were easy. My brother has been doing real estate part time in the Maryland DC area and in his first year sold about 4 million dollars worth of real estate, part time, but he did have someone helping him who had been in the business for about 20 years. I havent done anything in New York since I passed my test.
My instructor said that you can easily earn about 10,000 dollars a year as a supplement to your income doing very little. Essentially we were told that if you really want to make it in real estate you have to work at it, for the most part listings will not fall into your hands. He said the people who do not make it are the ones who sit around wondering why they arent making it. Youve gotta have a business plan to be a success, like any business.
Posts: 473 | Registered: Sep 2001
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One thing to remember is that people look at houses when they're not working. That means showing properties on weekends and at night, which will cut into family time.
I agree that a business plan is necessary if you're going to succeed. Like any part-time venture, it probably takes a lot more time and effort than you think it will at first.
Posts: 14428 | Registered: Aug 2001
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Dan, what a coincidence! I am taking a real estate class this fall and hope to pass the test before the baby is born.
Each state has its own requirements. To be licensed in real estate sales in Virginia, you have to have 60 hours of classes, pass the test, then do a kind of internship with a licensed realtor. It takes 85 hours to be a broker.
I won't be doing anything with it for a few years - until all the kids are in school and then I'll do it part-time. Since Andrew is seriously considering academia, my free tuition is a thing of the past, so I'm going to have to put my social work plans on hold.
Now that I have to save up for college, a Bat Mitzvah, and a wedding, I need all the extra income I can get.
To answer your question, I think it's a great idea!
Posts: 3037 | Registered: Jan 2002
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Dan - I guess I would ask you to clarify when you say "a career in real estate" because there are a lot of different directions you could mean.
We could assume you meaning working as a realtor SELLING real estate, but there are lots of others way to make money involving property, so it might help if you give more info.
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