Question concerning real estate?

i'm studying to become a nurse, i want to become a real esate agent and make some money on the side... what are your opinions on a career in real esate? i live in new jersey

Real Estate can be a great business to take advantage of if you have experience and resources in order to able to handle all the mechanics of a deal and be resourceful in order to exit and profit from a deal. It has taken me a number of years making mistakes in order to be able to archive the position I currently at. You have to know the right people and build a network which takes a good amount of time. It definitely takes knowledge, personality, patience, people you trust, reserves, resources, contacts and go getter attitude to be able to close a deal. I would follow up with the nursing and do real estate part-time as a backup and gradually progress into real estate at the same time. People are quick to discourage you into not doing things that they cannot achieve. Things are what you make it nothing is impossible! Be patient and learn real estate at the same time as you are learning to be a nurse as a backup plan a major problem with this business is cash flow. You can become equity rich and cash poor and want to build your reserves as you go. The market is excellent to purchase and hold properties take advantage of this situation while you can and build up your equity for stronger acquisition buying power. Good luck with your choice and Have a Happy and Prosperous New Year!

Devote your efforts to being a nurse.

Do you think a Real Estate agent would make a good part time nurse? Probably not.

It is a harder business than it looks and it is expensive also. You do hours-days-weeks worth of work but if the transaction does not close, then you don't get paid at all.

It can be a good job but I think you would be better off if you took an additional nursing job. Real Estate is not a good part time career.

Most real estate careers are commission-based, so nursing will be a more stable field (including benefits!). Many people I know have a full-time or part-time job and a real estate license. Those who make the efforts to keep up with the industry, take the additional coursework to maintain their license, and have the opportunity to do a few deals on occasion. Also, taking the real estate exam does not train you to perform as an agent. On-the-job training, perhaps starting as an assistant or transaction coordinator is a good way to learn the ropes. I'd suggest get your nursing degree first, get a good job in that field, and then pursue a RE license as a backup opportunity. However, if you are a licensed real estate agent (speaking of California laws), to work as an active agent you must hang your license under that of a Broker. Usually this constitutes monthly fees to the broker, office space use, fees to the board for MLS access and SupraKey, percentage of commission paid to Broker, etc. If you don't have any business you will soon outspend your profits.

Part-time efforts will result in, at best, part-time profits. Meanwhile you will have full time expenses and full time liability. Focus your efforts on nursing and learn more about real estate in your spare time, but as a prospective buyer and investor. Oh, and start your education at your local community college or adult ed school where you will spend very little and not be subjected to someone marketing a "get rich quick" system.

I have a real estate brokerage, and I don't hire people that do it part-time.

The reason is, you have to be available for your clients, when THEY want to look at a home, not when it's convenient for you. You have to be available for when THEY want to write a contract, not when it's convenient for you.

Some people that are successful at part-time real estate sales usually at some point either did mortgages or real estate full time at some point in their life....therefore there really wasn't much of a learning curve.

If it's not your background, then it's a huge learning curve.

I'm assuming this is something you want to do while you're still studying?

There are good things and bad things about working in real estate, just like there are good and bad things about any field or career.

The good things are the flexibility and satisfaction of closing a deal. During a booming market, the income is also good!

On the other side of the coin, to make any money in real estate you have to do it full time...maybe even more than full time. The real estate market is very slow right now, which makes it hard for even full time agents to make a decent living...there are LOTS of full-time agents who have gotten part-time jobs, or even other full-time jobs, because they cannot survive on their real estate income. Being an active, licensed real estate agent is also very expensive. 99% of the time you'll be an independent contractor...there are very few brokerages with a business model that handles agents as employees. Agents pay for their own education, licenses, dues for the national, state and local realtor associations and MLS. If you're blessed with a buyer these days, you'll spend A LOT on gas! Depending on the brokerage, you may pay for your own signs, office supplies, advertising, website, etc.

I love real estate, but I'm not sure it's the greatest side job for a nursing student. By the time you get up and running (generally a year at minimum) you may be ready to graduate!

It may be better to take a job in your own field, which could help you get the job you want when you graduate.

What artwhite said is right. I know how you feel though because I became a real estate agent in addition to lots of other things I'd done because I wanted to know about it. I wish I had known what I know now when we bought our houses. I was clueless. Being a real estate agent costs money. You have to belong to a brokerage in order to practice. The brokerage will charge you a monthly desk fee (to use phones, copiers and common office space), and of course take half of your commission. You have to pay for insurance and various other state and local fees. If you are a sellers agent you have to pay for marketing until the property sells. Buyers agents spend lots of time and gas showing properties that are not bought. It is definitely an expensive business. Take the course. You'll know by the time you finish whether you want to do this. I think being an investor is a better idea for you. Real estate is too unpredictable and unstable, like surfing.

Real estate is great for the people who take it as a serious career. The part timers are dropping out and eating Romain noodles right now. It is a tough market, and if you re only "playing" Realtor you will starve.