Licenses

[Lindsay Wilcox]

What kinds of licenses does it make sense to hold? Or what kinds of licenses do YOU hold?

I've seen some debate about real estate licenses, but what about, for example, general contractor licenses if you do a lot of flipping? My city (Indianapolis) apparently does not require any kind of skill test to get a general contractor license, just insurance and bonding. Not sure yet what the insurance companies require to provide coverage, but was curious how much value people place on different types of licenses.

[Brian Gibbons]

Lindsay Wilcox getting the local books in Indiana to study for a real estate license would be a good start, whether you get a license or not. They are a good reference to keep on your book shelf.

Building a team of professionals that can be trusted is another step. Go to your local REIA and network. Get a referral for a CPA and Title Co. and Attorney.

I would have a plan, say flip 5 deals, then buy and hold. This is only a suggestion.

You need good credit and cash to buy and hold traditionally. Learn about Private Lending. Get this book http://www.amazon.com/gp/offer-listing/0757000940/ref=dp_olp_used?ie=UTF8&condition=used

Hope this helps you get started.