Brand New-Do I need/want an Agent/Broker license?

[Charles Haggett]

Hey everyone! Background: I'm moving to Wichita KS in June after I graduate (undergrad) and I'm looking to start wholesaling/fix-flip etc once I make it to Wichita. Questions: Is there benefit to getting my RE license? Also, should I get a brokers or agent license? In theory, I want to take the licensing course because I enjoy learning and want that knowledge but is it a requirement for me to get started? Will it save me money if I can process deals through myself? The next question I have is should I have an LLC before my first deal? Thanks to everyone for your answers. Charles

[Lelith Walker]

I believe it will be beneficial if you get a license when you are fixing and flipping in the same city state that you live in. The benefit is you have access to the mls and the tax write off. I do not believe the license alone helps in investing because networking and taking classes at the local REIA may benefit. Just don't do like I did and be too trusting of all of the members in there no matter what their title is.

I started my LLC before my first deal and I think it does make it better because those who buy the house in their own name and then transfer it to the LLC name normally have to pay a lot of money to do so. Check with your accountant and lawyer first of course.