Dedicated entrepreneurs aren’t afraid to start new business ventures, especially when they’re profitable. Real estate happens to be one of the most profitable industries on the planet, and it’s also a common side gig for entrepreneurs.
You don’t need a real estate license to buy and sell properties under some circumstances, but getting a license will open many doors for you.
For instance, you’ll have more insider contacts, you’ll learn more about real estate, you can earn commissions on your own deals, and you’ll have access to more deals through the MLS.
If you’re an entrepreneur and you haven’t gotten into real estate, you’re missing out on a wonderful opportunity to generate long-term income. Here’s why:
1.You can generate higher profits with a license
As an entrepreneur, you know the value of investments that produce a high return. Real estate is one of those investments. However, your profits will be higher when you hold a real estate license.
For example, when you close a deal acting as the realtor, you’ll receive the commission. This works for both buying and selling. Imagine being able to earn and/or save thousands of dollars on deals every year just by getting a real estate license.
It’s cheap and easy to get a license. For instance, you can get a real estate license entirely online for under $200 in Pennsylvania. All you have to do is pass the state licensing exam.
2.You’ll gain more experience with rental properties
Rental properties are an excellent way to build long-term wealth that you can pass on to your children. They can also be one of the riskiest investments if you don’t take your time with inspections and considerations.
Having a license (and using it) will give you more of an education regarding what might go wrong with property deals. For instance, it’s every property owner’s worst nightmare to discover severe water damage that their inspector didn’t notice. It can be expensive to repair a rotten roof and/or walls.
Your training will give you a foundation of knowledge, and then if you work as an agent for a little while, you’ll learn much more. Once you work as an agent for a while, you’ll have a better understanding of how to get the best deals, how to structure your contracts, and what mistakes to avoid.
3.Licensed realtors have access to the MLS
The Multiple Listing Service (MLS) is a database managed by real estate brokers that hosts property listings. It’s intended for brokers to have access to other brokers’ listings to make it easier to connect buyers and sellers.
If you don’t have a real estate license, you can’t freely access the MLS. Although you can pay some third-party companies a fee to list your property in the MLS, it’s not the same.
To take advantage of this amazing database, you need direct access, and the only way to get this access is with a real estate license.
Don’t rely on listing sites like Zillow and other similar listing sites. By the time a house gets listed on these websites, it’s most likely already under contract. The estimates are also not usually accurate.
A good alternative is Redfin if it’s available in your area. However, nothing beats the listings in the MLS.
4.Owning a solar farm is the ultimate entrepreneurial business
Real estate investing doesn’t just involve residential and commercial properties. You can also invest in real estate through buying land.
One of the best ways to use land is to create a solar farm. What you do is lease your land to solar developers who set up solar panels. The electricity generated is sold to the grid, and you receive compensation.
Renting your land to a solar farm is much easier than renting to tenants. You don’t have to maintain the solar panels like you have to maintain a dwelling unit. Also, solar panels don’t have constant needs like tenants do.
Land is forever appreciating in value, so it’s almost always a good investment, whether you use it for a solar farm or you hang onto it long-term.
Get your real estate license today and start earning more cash
Investing in real estate is a lucrative business pursuit. Real estate investors are entrepreneurs, too. If you’re looking for a new opportunity to generate income, consider property investments as your next pursuit.
If you don’t have any experience in real estate, that’s okay. When you’ve already been successful in business, you have the potential to be highly successful in real estate.
