Cape Girardeau, MO · Member since 2017 · 101 posts · 25 votes
Does anyone have or plan to get a RE license? Why or why not? Do I need a license to operate out-of-state? For example, I'm in Missouri and plan to start investing here, but I plan to expand (open LLCs as well) in Illinois, Kentucky, Tennessee, possibly Arkansas and Georgia. Why? Because I want to be able to take appropriate actions if I'm sued in those states and I can't do that (without headaches) if I'm not registered to do business in other states. Anyway, I disagree. With the logic that I'm using (opening LLCs in other states) this would also mean that I would/should have a RE license in those other states as well, but time and accurate information gather will decide that. Any input? Advice?
Specialist · Tampa, FL · Member since 2015 · 84 posts · 47 votes
9y
My husband got his license here in Arkansas. We use it for our investment business to find deals and analyze the market (we like to pull our own comps and know days-on-market trends), and he also represents investors and retail buyers. Real estate licenses don't transfer over state lines. You'd need to get licensed in each state and pay yearly dues. Since we flip homes, it's nice to have a price break on the marketing costs. We are glad he got it. But, you certainly don't need it to invest if you have a good realtor on your team.
Real Estate Agent · Buena Park, CA · Member since 2016 · 743 posts · 424 votes
9y
You don't need a license at all to invest in real estate no matter what state you live in or the other states you invest in.You should using experienced local professionals in each state you do business in to get the job done right and keep you out of any legal trouble you may be worrying about.A license and all the training and expenses that goes with it is only necessary when you are representing other people as clients.
Specialist · Tampa, FL · Member since 2015 · 84 posts · 47 votes
9y
My husband got his license here in Arkansas. We use it for our investment business to find deals and analyze the market (we like to pull our own comps and know days-on-market trends), and he also represents investors and retail buyers. Real estate licenses don't transfer over state lines. You'd need to get licensed in each state and pay yearly dues. Since we flip homes, it's nice to have a price break on the marketing costs. We are glad he got it. But, you certainly don't need it to invest if you have a good realtor on your team.
Software Developer · Mobile, AL · Member since 2016 · 42 posts · 29 votes
9y
I'm not aiming for one. My main reason being that I don't want to switch careers to Real Estate, I just want to use property as passive income. Also, if you are licensed, you are held at a higher standard when it comes to selling property and other things and I don't want the extra liability.
Real Estate Agent · Tallahassee, FL · Member since 2017 · 36 posts · 15 votes
9y
if you are going to be investing a lot in one market (especially if it's your home market) I think having a license makes a lot of sense. But keeping up with 4 licenses in 4 different states honestly doesn't seem worth the hassle or expense.
Investor, Attorney, Broker · Little Rock, AR · Member since 2016 · 67 posts · 41 votes
9y
From your other posts, it seems like you just get a kick out of signing up for things or paying for services, all in anticipation of investing. Here's my advice: stop doing all those other things, and just go invest.