Are you licensed is it necessary

[Mike Stadel]

So I went to my accountant to ask how I would be taxed when I finish my first flip and he went off on a tangent and is telling me I should be licensed to flip houses. So that brings me to my questions... How many of you are licensed to flip houses, is it necessary and what kind of licenses should one have? I’m strongly considering quitting my job of 20yrs and doing this full time as I am very pleased with the results and how this first flip went.

[Will Barnard]

Unless you misunderstood your accountant, you need to fire him/her and get a new one that knows what they are talking about in real estate. You do not need to hold any license to flip a house. You do need a real estate license to receive/earn real estate commissions. As a flipper, you are the owner of the property and therefore you also do not need any contractor license either as you are the owner/builder and can pull permits as owner builder and do work as owner builder. You may also hire licensed contractors and sub contractors as the owner of the business/property.