Real estate license or Contractors license

[Gerald L.]

I have an interest in buying foreclosed property, developing it than reselling it. Do you guys suggest i get my RE license first or get a contractors license first. sorry for the ignorance. but i can only take one class. and the contractors classes are filling up quickly.

[Steve K]

A contractors license will only benefit you if you're dealing with at least a few rehabs per year that require a permit to be pulled. I haven't calculated the cost this year but i'd estimate my annual cost to hold a contractors license is around $5-6k per year. This number will change from state to state based on a number of factors.

If I were you and wanted one of the licenses i'd probably start with the RE license so at least you can gain access to MLS, handle your own property viewings, and kick your commission back into your deal.