A lot of new real estate investors (and even experienced investors) will ask themselves “do I need a license to wholesale houses“? That’s a totally legitimate question to ask yourself, because you don’t want to get caught up in any legal battles. For the second time, back by popular demand, this time a NEW and emotionally enhanced video that will tell you if you need a real estate license in order to flip houses.
There’s alot of misconception about what you actually need a real estate license to do. As surprising as it seems, Realtors are the first ones to tell you that you need a license to wholesale houses. Well, they’re incorrect.
Every real estate contract is assignable unless it specifically states that it isn’t. This means that you can assign (i.e. wholesale) your interest in any contract to another buyer for any amount that you both agree to. No license needed. Im unsure about other states but this method is actually taught in the pre-licensing course for Real Estate Licensees. The course that goes over the state laws about licensing.
“A BAR SALE” – Duties You Need a Real Estate License to Perform
An easy acronym to remember what a real estate license is required for is ” A Bar Sale”. These duties apply if you’re performing FOR SOMEONE, FOR COMPENSATION.
But do you need a license to Flip Houses? That’s the Question
Imagine how many people can totally cross the line when it comes to assigning their interest in the contract! There’s definitely a right way and a wrong way to wholesale houses. Alot of new people say the wrong thing to sellers, giving the impression that they’re licensed real estate licensees. Additionally, they may verbally market a property, which also implies licensed activity.
If you’re a new real estate wholesaler, please, do yourself a favor and learn how to wholesale houses the right way so that you never have to worry about anything. You’ll have confidence knowing that you’re taking the necessary steps so that you CAN make money without a license.
Now while you’re drooling over the facts, LEAVE ME SOME COMMENTS.