Remember how last week I was talking about how when I recently rebranded my business I aptly named it CKS ventures as I wanted a name that would work no matter what direction I took my business? I also hinted that I was about to start yet another venture. Today was the first day of my start of that venture.
My latest venture is real estate. I started real estate school today.
Throughout my life I have entertained the idea of becoming a real estate agent. In North Carolina they are called brokers. Agents, brokers, realtors, whatever! I should look each up and see exactly what the difference is between the names but frankly it really does not matter to me. I think depending what state you are in may depend what you are called! Alright curiosity got the best of me. A realtor is a real estate agent who is a member of the National Association of Realtors. … Brokers can work independently or employ other agents. The biggest difference between the three titles is a broker can work on his own, while an agent must work under a licensed broker. After all this in NC they are called brokers. You initially are a provisional broker then a broker and can eventually be a broker in charge. I digress!
I never pursued becoming a real estate agent as I didn’t really want to commit to working nights and weekends. Especially after one of my very first real jobs was working in retail, thus nights and weekends. I still don’t want to “have to” work nights and weekends unless it is on my terms. Yet, as a bartender I have definitely worked my share of nights and weekends! So at this point in my life it really doesn’t matter as long as I can have some control over it.
My real purpose of getting my real estate license is not to necessarily sell real estate however. What you ask? Why on earth would you spend the time, money and energy getting a real estate license if you don’t to sell real estate? Ultimately, I am getting a real estate license to obtain more knowledge so that I can invest in real estate. More specifically so that I can buy single and multi-family homes and rent them out.
Granted, I don’t need a real estate license to do this, but knowledge is power! I also figure that if I can suck it up for the first couple of years, learn the ropes and actually do sell some real estate I can save the money I make to invest in more properties. It can only be a win- win situation for us.
As Ken, my hubby, and I get closer to retirement we would like to have an income stream of some sort that we can live off of. We have been saving for retirement through a 401K but when we retire we want some “passive” income that we can depend on.
Between Ken and I we figure we can initially do almost everything ourselves with regards to investing in real estate rental properties. Ken has the know how to do remodeling and repairs. I am a CPA and will soon be a real estate broker. Between the two of us we can manage our properties. We need to add a good real estate attorney to our team. Our biggest hurdle will be having the money we need to buy the properties and getting financing. If you know of anyone that can help us out in these areas please let me know!
Designing jewelry is still my first love! I know I am going to have to make a few sacrifices to obtain my real estate license and then work for a real estate company before I can go out on my own as a real estate broker. I can do this! I may have to give up bartending so that I have some more time to do this, and my jewelry and my aromatics. Oh, gosh darn! It seems the time may be coming for me to quit bartending. Or at least quit bartending where I am currently working barely making minimum wage.
Ta, ta ‘til next time,
cheryl