I am new to this. I am interested in buying property and then selling it within a short period such a week or few months. I know where i could get some cheap and still resell cheap. I'm not looking to get value or close to it. I'm looking for small profit a few thousand or more.
I do not have a license and no interest in getting one. I live in TN. What is my limit in selling without a license? What is the short term fees? Is the limit any different if the sale is done out of state? Do i need some kind of license to rent out any if i decided?
I have an opinion on this @John Travis , but you may not like what I think. So, I started out last year and wanted to get started. There is so much debate on whether you should get your license or not. I can tell you that you may have more issues with NOT having a license then the other way around. For me, I took some great advice and got into this business by getting my license. This was one of the best piece's of advice ever given to me. This completely opened the door for me to get some real world experience. Sure, you may find people on here who have never gotten their license, but I think a majority of the "true" successful investors will all say the same thing-having a license was one of the best things they could have done.
In my case, having my license meant that I went to the classes to learn about real estate. The knowledge I have gained was priceless. It gave me the confidence to talk to sellers easily. I continue to learn so much about real estate and I have learned so much more about investing BECAUSE I have my license. I am now about to submit my application for buying HUD properties. I know of guys who are buying all of their deals from HUD. This is a pretty cool strategy and you can get some great deals.
I highly recommend that if you are serious about this business you NEED your license. Just having access to the MLS is amazing. Not to mention the ability that you can have something to fall back on if your investing does not work out. Good luck to you no matter what you decide.
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