Being cautioned about getting my real estate license

3 Replies

Looking for real estate agents/brokers with some insight. I recently met a guy who owns a property management/hard money lending company and he has kind of taken me under his wing. I guess you could say he is mentoring me a bit. I am going to do a dry run walk through with him soon on a property that he is currently working on. He seems like a real smart guy and has already walked the road I want to go down. He is cautioning me about getting my real estate liscense due to potential liability. From what I understand as long as you disclose you're an agent your doing okay. Just wondering if anyone has been sued because they were an "expert" or is there other things real estate investors who happen to be agents can do to mitigate liability?

depends on what you want to do in FLA I think based on many post here you cant market properties you don't own without a license.. so unclear what you want to do.

if you want to buy fix and flip no license is required.. its smart though.. you save fee's on both ends.

like anything real estate done correctly is not a litigious business.. and really depends on how much volume you do.

My wife is an active retail broker doing 10 to 20 million  a year in sales.. and I have never seen here get sued for anything or even get a nasty saber rattling letter.. but she is a stickler on the laws and rules of the road..

@Jay Hinrichs thanks for your response. I want to use real estate commissions to spring board my investment capital. Like a lot of newbie investors I dont have a lot of cash yet. So i figured I need to spend the money I do have on marketing to motivated sellers. Then I figured if I have the phone ringing and I get a call from a non motivated seller if I have my liscense at least I could list the property. Just trying to use the little money I have saved as efficiently as possible.

Hi, I'm new to BP, and what a find!!! My wife and I are moving back to Tulsa, OK around the first of the year and will be plunging into the investment business there. We are both considering getting our real estate licenses mostly because neither of us are particularly thrilled with our current jobs, and feel that we might as well be totally immersed in the business on both ends. We will be using the equity from the sale of our current home to buy into our first investment properties, possibly a four or more plex and move into one of the apartments.