I recently got my real estate license. My wife is planning on getting her license here soon. Is there any downfalls to her getting her license? We plan on investing once we build the realtor bridge.
I guess, why would you think there would be a problem? What is your concern?
Since you have your license, you know what it takes, what you learn in the pre-licensure course, and the annual fees&dues to maintain it. If you wife had her license, she would be able to work along side you another agent. seems fine, but I have no idea what sort of activities you are planning.
For protection reasons I have heard people not do it. Such as putting investment properties under the unlicensed partner. Didn’t know if that had any credibility or not.
Yeah... I'm not sure what you are talking about...
Having a real estate license doesn't/shouldn't jeopardize your investment properties either way. Granted, having a license holds you to a "higher standard" because you are most likely a Realtor. But, that's nothing to hide from. Sure, people don't like salespersons such as real estate agents. But, more likely than not it just shows that you are more "professional" or "legit" --- sort of...
For "protection," you just get landlord insurance and an umbrella insurance policy. For more protection but at a cost, you do EVERYTHING under a legal entity such as a LLC. We have many posts on BP (let me know if you want me to send you some links) about the pros/cons of using a LLC which has associated costs in the long run.
Thanks for your input! I greatly appreciate it! You can send me all of your info and I’ll def take a look! Thanks again @David M.
The below should keep you busy. :) I'd be happy to chat if you like --- just direct message me.
Here the LLC related posts
real estate agent related