Updated over 5 years ago on . Most recent reply
Real estate license
I am wanting to invest in buy/hold and flipping. Would it be good idea to get a real estate license or waste of time and funds?
Most Popular Reply
If you plan to buy at least 2 properties a year for yourself then the license is worth it. It will cost you around $1,500/year to hold it with all the fees you pay. I would hope the potential commission you make cancels that out plus you get full control of making offers and access to the MLS. Personally I turn my commission into closing costs and/or reduce the price. I just bought a $100K duplex using 2% in closing costs and reducing price down 1% to $99K and received no commission. It works out better for me as the commission would have been taxable income.