I have a Real Estate Brokers License is this a help or a hurt in flips?

1 Reply

Hi,

I have been a RE broker since 2005, I want to get into flipping and have the MLS in my home office. I need to develop some relationships with wholesalers etc.

I do not do listings or represent buyers, just use the license for my own purchases and to be able to represent my own sales on the way out of a deal.

Is this an advantage or a disadvantage?

Is there something I can do to trade or work with other flippers or wholesalers that could be of value and therefore obtain more flipping deals?

Thanks!

I have heard some investors who were not realtors say its a disadvantage to be a realtor, because of x, y and z reasons. Like what? A) your real estate license will require you to make more disclosures than an investor would and that will intimidate the average Joe Seller. B) you have to be careful when buying/selling directly with people as you don't want to have any conflicts of interest. C) etc. Yes, those may be factually correct statements, but I have gotten to know numerous realtors and/or agents who are very good real estate investors. So, in the end, no, it will not make a big enough impact that you will need to worry about anything. Just do your business ethically, morally and compliant with the law...and you should be A-OK.

As I said, I know realtors who are VERY successful at doing notes, rentals, rehabs (that they fix/sell retail), wholesaling and even subject 2 rentals & assignments. So don't let your license keep you from trying anything. A matter of fact, you have some advantages...e.g. you can take a 3% commission on anything you buy/sell on the MLS, where us non-realtors cannot do that (in Texas anyway, lol).

Good luck!

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