Starting A Business In Real Estate In NY Without A License

The most common way for people to get started in real estate is to become an agent or broker. Those two paths require multiple levels of education that lead up to a State exam that grants you with a license to sell real estate. But if you want to start a career in real estate without having to go to school or obtain a license, there are multiple other paths that you can elect to take- depending on your interests and skill set. Whether you want to service other investors or build your own portfolio of property, there are ways that you can get started that not only are quick and easy to get into, but are profitable in the truest fashion that we all know real estate can be.

Become A Residential Property Wholesaler

You do not need a license in order to become a wholesaler, which is essentially a middleman who facilitates this sell and purchase of real estate properties. As a wholesaler, your job is to find abandoned and boarded up properties that rehabbers or landlords can fix up to make a profit. Some houses only need a small amounts of remodeling in order to be ready for rent or sell. Other properties will require extensive work, so they should be bought on discount. In either case, the biggest skill you will need is the knowledge of repair costs. Tevfik Arif Once you can assess the amount of money that will be needed in order to restore the property, you can more easily negotiate a reasonable purchase price that investors will be willing to pay. The key is to structure the deal so that even after the purchase and rehab, the investor makes a 25% to 30% profit. As low as you can structure deals that are preferable for investors, being a wholesaler who facilitates these deals can be profitable as well.

Rent Out Vacation Rentals WithAirBNB

The vacation rental market has been revitalized with the introduction of AirBNB, and its creation has created an opportunity for people to make money without a license. With this social platform, there are a few different ways to make money. First, you can make money by rinsing out rooms in your home to create cash flow. Secondly, you can help other property owners maximize the profit potential by offering to collaborate with them in order to increase their rental rate and occupancy. Last, you can sign a lease on vacant properties that would give you control of them, then rent amounts as vacation rentals during the spring and summer months. The last option is the most lucrative, but it does require an initial investment since you will have to pay the security deposit and first months rent on a unit. But wants you start securing bookings, the money that comes in from books days should more than cover the lease. The gives you the opportunity to make profits on other people’s property – and without a license.

Become A Property Manager

Becoming a property manager is more about networking and relationship building than it is about investing in real estate. Nonetheless, by approaching property owners and landlords and offering to manage their properties for a fee, you can get your foot in the door of your local real estate unity. This will allow you to not only become acclimated with the market, but it will also allow you to build relationships with active investors who will be beneficial in your career as time goes on. As a property manager, your job is to collect rents, perform maintenance and repairs to the properties and inshore that the operation is operating smoothly. It does not require a use time commitment, but you must be available late nights and early mornings when tenants call about problems with the unit. Your job is to take away all of the stress that normally comes with being a landlord, and property owners normally pay 10% of their collected rents for this convenience. With three or four clients with a large inventory of rental properties to serve, you can start your career and what estate without going through a extensive training or acquiring a license.

Making money in real estate does not require extensive training in order to acquire license. In fact, more and more people are entering the estate market as investors using one or more of these ideas. As long as you treat your endeavor as a business – and not a hobby – you should be able to generate profits in real estate quickly and easily.

Categories: Real Estate

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