Does anyone know what types of licensing I need to flip houses in Florida? I am interested in this business and have not sold anything yet, kind of just getting my feet wet. Does anyone have some advise for me as I am just starting out?
You do not need a license to purchase and resell you only need a license if you are representing others in a transaction
You can buy and sell a house without any licenses. You will need an active real estate license if you'd like to earn yourself a commission on the purchase of your properties, that is if a commission is offered.
You will need to pay a Buyer's agent on the sale of your property. Doing it FSBO is a waste of time.
Talk with an insurance agent to get you the correct coverage. Flipping homes can open you up to a lot of liability.
Hire a contractor. If you, the homeowner pulls permits on the home, you will sign an affidavit that will prevent you from selling the house for an entire year. If you hire a contractor, you can sell it right after all the permits are closed.
Keep in mind, that FHA and VA loans cannot be used to purchase your flip until you have owned the home for more than 6 months. So if you flip it in 2 months, you'll have to wait another 4 months to accept an offer from an FHA or VA buyer.
@Tom Parris Some good advice, except.....for an FHA buyer you simply can't sign a contract with them until 91 days after your purchase date...no 6 month rule.
@Wayne Brooks I say that to be safe. I like to avoid the 2 appraisals from the 3-6 month period. It happened to me in the past, and appraisals came in $20k apart.
Yeah, I think that only comes into play if the sale price is more than double the purchase price.
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