Real Estate License Useful for Flips In Another State?
Hi Guys, before I start I just want to say that I searched high and low for this in the forums as I know there are already plenty of threads regarding the benefits of getting an RE license, but I couldn't find any that talked about applying the use and using it out of state.
I want to get my NYS RE License for three reasons:
1) Make a little side money doing part-time rentals/sales in NY
2) Learn the laws/ropes of the game and
3) Save on commissions/fees when I start flipping/investing for myself
Before I get my license and start looking for a part-time gig, i want to ask a few questions for anyone who has done this based on your experience:
- Does the sponsoring broker care that you aren't really in it to be an Agent? I would think sponsoring brokers wouldn't want to waste their time on someone who doesn't want to be a full-time salesperson and have other motives.
- Secondly, do you get any benefit from going out of state deals? I.E. if you are licensed in Masschussettes but flip in Connecticut or NY? or is it cut and dry and it is useless unless you get additional licenses for each other state. But then begs the question again, dont you need to be sponsored by a broker to be an active licensee? And who would sponsor you as an agent if you dont even live in that state?
Hope these aren't dumb questions, but I just came seem to find any solid answers to them. Any help will be greatly appreciated!
Thanks
Phil