Wholesaler · Sanford, FL · Member since 2013 · 14 posts · 0 votes
Hate to bring up an old post but some archive searches yielded nothing...
I am applying for the county occupational license as these are required in my county for flipping under my corporation. I needed to know if I should apply for the non-regulated or regulated license. I was told to call the DBPR and ask them.
They tell me that I need one because I'm receiving "compensation".
I reminded them that my company pays me a salary that is non-dependent upon the profits of individual deals.
I also tried to tell them that the Florida Statues clearly states that corporations may buy, sell, exchange, lease their own property without a real estate license.
Now the problem comes in that I can't file non-regulated unless I have a conversation reference number from the DBPR saying that I don't need one.
Property Manager · Myrtle Beach, SC · Member since 2014 · 135 posts · 13 votes
12y
I would probably send a letter to the head of the "License" department explaining that you do not fall under their jurisdiction. If they dispute it they have 30 days to respond to the letter. If no response then they are in agreement with what you stated in the letter and have no never mind in your business. Its how the system works and
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
12y
Tony, that's totally wrong. If you break the licensing laws, a no response from some letter means absolutely nothing.
Scott, what kind of "activity" did you describe you would be doing? "Flipping" is an often misunderstood term, which can have different meanings to different people. My business activity would simply be real estate investing, period. If you buy and sell property, you are receiving a profit, not compensation.
Investor · Houston, TX · Member since 2013 · 85 posts · 18 votes
12y
I'm with @Wayne Brooks on this one. They probably have no clue what kind of "flips" you are attempting, therefore are out of line and owe you an apology!
Wholesaler · Sanford, FL · Member since 2013 · 14 posts · 0 votes
12y
Thank you for the replies, this is what I thought.
I told them that my company is a real estate investing company. We buy and sell real estate short term and occasionally buy and hold property. That's it.
I asked multiple times to speak with a supervisor but never reached one, only to be told that "My two supervisors agree that you will need a RE license and will tell you the same thing I have told you. You need to talk to a RE attorney." I thanked her for her time and hung up.
She had my blood boiling to say the least.
So do I continue to file with the county as non-regulated or is there really need to get a RE attorney in the mix? Like the county would take my attorneys word? I don't even know what that means!
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
12y
Explain more about the occ. license issue. This must be a local city/county thing about a real estate investment co. needing some type of letter from DPBR. Call DPBR back and talk to someone else and a supervisor. They can't all be that dense.
Wholesaler · Sanford, FL · Member since 2013 · 14 posts · 0 votes
12y
Yes I plan to try again in the morning.
I was told by the rep from the county that there are two fees. One for regulated business and one for non-regulated business. The price difference is minimal but because of any other potential implications that I may be unaware of, I wan't to do this right. Also, I'm not going to admit that I need a license to do business and go ahead and make deals happen under this false assumption.
She told me that if I filed regulated I needed to provide a certification in the required field and if not that I needed a conversation refrence number of the talk with the DBPR. I assume they actually check the recording? I have NO idea, but it was what I was told.