3 Myths About Real Estate Investment
Jack Butala: 3 Myths About Real Estate Investment. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala:
Jack Butala for Land Academy, welcome to our Cash Flow From Land Show. In this episode Jill and I talk about the three myths about real estate investment. You need money. You're too late to the game. The pros have it locked up already.
Jill, great show before we start, let's take a question. From a caller.
Jill DeWit:
Okay, cool. Delaney from Houston called in and asked:
I'm thinking about getting my real estate license to help me with investing. Would doing so be a big help or am I just wasting my time?
We've talked about this before, but since she left that question I thought it would be really good to address again.
Jack Butala:
Many, many times.
My answer is this. Take the classes. Take the classes as if you were going to go all the way through. Take them with that much effort. Show up for the classes. You're going to learn a ton. Out west here it costs about five hundred bucks to go through the whole program. I think it may or may not be a little more expensive or inexpensive depending on where you do it.
What you're going to learn is amazing. For five hundred dollars, the amount of education you're going to get in the hours of instruction that you'll get from local people on local laws and the whole thing and the contacts that you make in the business, both from an investment standpoint and the whole thing, I think is absolutely worthwhile.
I'd put it under this umbrella: when is less education better? Never. It's always better to have more education and then decide, maybe that wasn't worth it. But should you take the exam? That's going to be up to you at the end. Don't walk away because you're lazy and you don't want to take it, or study for it.
You might find out that throughout those courses and the kind of people that are there that you're more on the investor side than you are on the agent side. I think the big difference between a licensed agent and an investor is that investors represent themselves or they put other investors together and they buy and sell properties. An agent represents people in the purchase and sale of their property.
I'll leave it all to you to figure that out, but it's actually pretty simple stuff. Do you want to represent yourself, or do you want to represent other people?
Please don't do this- I hear this all the time. I only got my license because I wanted to have access to the MLS.
Jill DeWit:
That's the funniest thing, I love that.
Jack Butala:
I hear that all the time. Weekly. That's the only reason I got my license, I'm not going to use it. I only want access to the MLS. There's a million ways to get access to the MLS.
Jill DeWit:
By the way, we talked about this too, by the time it hits the MLS, it's probably too late.
Jack Butala:
The MLS is good for a lot of stuff. Depending on how robust your MLS is, the one in Arizona is fantastic, it's great for sales comparisons and a lot of data and a lot of stuff actually but it's incredibly expensive. The further we get into the internet, the more resources you have to find out completed sales and the whole thing.
Redfin. Currently Redfin is the number one app on the front of my phone. I use it everyday. It's a direct feed, I think they update it twice a day, once or twice a day, to the MLS. I have access to the MLS and I don't have a license.
Jill DeWit:
There you go. Thank you, Steve.
Jack Butala:
Is that a long winded way? Oh, did you have anything to say?
Jill DeWit:
No, that was perfect. Don't anymore. Just kidding.