Today what I wanted to talk about is having multiple streams of income. Every business can be feast or famine. If you are an entrepreneur you know it can have its ups and it’s downs. So if you have multiple streams of income you can actually prepare for those downs.
So for me personally I do Real Estate, Mortgage Loans, some business consulting, and some interior design work. Now granted I’m not always doing these all at one time, our life is really not that crazy. Of course my main focus is in the Real Estate world, but if things fluctuate then I have something to keep my time busy while still producing an income.
Personally I’ve been in Real Estate for 15 years. Over the years I have spoken to many people who want to get into Real Estate, but many are worried because it’s super time consuming or because they are moms who don’t want to be away from their kids too much. The answer to that is this….Yes, Real Estate can be time consuming, but you get what you put into it. So if you want to be an agent who makes a ton of money then you need to work harder, but if you are a mom who needs flexibility and maybe do one transaction a month, or 6 a year then you can still make a decent living.
Real Estate is all about getting clients, that’s where the majority of your work happens. This can be achieved by networking in groups of people who have the same interest as you. For example if you are a mom, you can join mommy groups or the PTA at your kids school. Then there is the paperwork, which can very easily be outsourced. This way you have more available for your family.
So how do you get a Real Estate license? There are two ways that you can do it. One way is taking a live class, and the other is taking an online class. Everyone has a different way of learning, so it depends on how you like to learn. There are 3 classes required in order to sit for the California Real Estate exam. The first one is Real Estate Principles, the second is Real Estate Practice, and the third is an elective course such as Finance or Escrow.
I prefer online classes because you can study at your own pace and you can take an open book final exam in the comfort of your own home. There are great online programs available that you can have complete in just a few months. If you love helping people then this could definitely be a great full time career for you, or a great way to have an additional source of income. If you are ready to get started with your Real Estate license, click here or if you already have a license are interested in joining our team click here.