Rehabbers and Flippers - do you have your own GC license? Or do you contract with a GC instead?
If you do have your own license - How much does that cost you to maintain each year, including insurances? What about up front cost?
And do you sub out all, most, or some of the work performed on your deals?
Do you take on jobs for other clients, or do you solely have your license for your own deals?
Lastly - Do you also have your RE Agent license?
I'm debating on getting it. Trying to determine how much it will cost and how much I can save on rehabs.
And if it's worth it for how many deals I'm doing in a year.
In OK there is no GC license.. hate/love relationship.
I'm a newbie. What benefit would having a GC license provide? I can just hire all the subcontractors myself, can't I?
Can't pull permits around here without the license.
@Max Tanenbaum I spend around 20k for my insurance and yearly maintenance excluding work comp premium. For small mom-pop shops, i’ve heard Workers comp alone is about 1,500/year + premiums here, another 2-4k for all other types. You will need W2 or employees instead of 1099s (in reality they will never fly - per IRS, in CA at least). Guess if you don’t have enough volume, there’s a less chance of audit. When you pull permits, and on your own license, the city will assume that you know what you are doing and will expect everything to be standard. Maintenance yearly is very dependent on state and what your state allows, in TX, there’s very little license requirements.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.