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Updated over 8 years ago on . Most recent reply

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12
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1
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Christopher Chamberlain
  • Hampstead, MD
1
Votes |
12
Posts

RE license for flipping?

Christopher Chamberlain
  • Hampstead, MD
Posted
Good afternoon BP. I am just starting out in RE investing. I haven't made any deals yet. Trying to transition from educating to doing. I am signed up for a real estate license class. Now my focus would be fix and flip and wholesaling. I thought getting my license would only help with experience, knowledge, networking and perhaps adding some credibility. One thing I have noticed though is that most flippers and wholesalers do not have their license. Is there any particular reason for that? Wasn't sure if maybe there were some ethical concerns with being an agent and wholesaling at the same time. Any thoughts on this would be greatly appreciated.

Most Popular Reply

User Stats

477
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304
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Lee Smith
  • Residential Real Estate Broker
  • Indianapolis, IN
304
Votes |
477
Posts
Lee Smith
  • Residential Real Estate Broker
  • Indianapolis, IN
Replied
@Christopher Chamberlain

 I am a heavy investor and I have my license.. I hear all sorts of reasons why not to get it, 

but none of them pan out... 

  • I get access to my MLS for comps, etc.
  • I do get credibility from buyers and sellers because I have my license.
  • I do have to tell people I am licensed, but again most of them give me credibility for it.
  • I get paid when I buy/sell properties on the MLS.
  • I don't have to deal with idiot Realtors, because I r one... 
  • It opens the doors for a lot of strategies and can help keep the local govt off your back because you are licensed.

I am actually a broker now, and own my own brokerage. I even founded a property management company and handle property management for other investors as well... 

I have yet to hear a reason NOT to get your license that was worth its' salt... I mean sure I spend money on association fees, etc but 1 deal a year off the mls generally pays all of those off..

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