I am a new real estate investor. I have recently purchased two buy and holds but am now turning me efforts to flips. I am currently in the middle of a real estate brokers class preparing for the brokers exam. Having completed the majority of the class I am really struggling with the pros and cons of flipping with a real estate broker's license. For instance the liability issues and additional disclosure obligations that would be required by my licensure. I am also a licensed attorney and can only imagine the type of increased scrutiny that would be placed on me simply by my licensure's, should something go south on a deal. As I'm sure everyone understands, attorneys and brokers are held to a higher standard of knowledge and action then those who are unlicensed. On the other hand, it would certainly be helpful to have direct access to the MLS and be able to go look at properties whenever I wish. However, I do have a very good real estate agent who I work closely with. As I said I am really struggling with this issue and need to come to some resolution in the coming days. It would be so helpful to hear points of view on both sides of the issue.
License or Not?
