Should I open a business license to Wholesale?

3 Replies

Hello all,

I am still in the process of doing tons of research. However, one of the topics that i am a bit unclear of is, should I be licensed to wholesale?

Even though I'm sure i can wing it without one. I'm assuming that it would be more professional and secure if i obtained one.

Please give me your thoughts and concerns on this.

Thanks

Dan

Hi Dan,

I'm in the process of starting a wholesaling business here in Nassau County Long Island. What do you mean when you say Business License? You should open an S Corp or an LLC but you don't need a specific license to wholesale real estate. I'm a licensed real estate broker but I just used another one of my companies for my wholesaling business.

Have you taken any steps with your marketing and advertising yet? 

Best Regards,

Eric

You don't need any sort of RE license or business license to "wholesale" real estate.  But there are great advantages to be licensed - from the leads you'll get, you can list more houses that you can wholesale.  So, why not do both (eventually)?  But for now - just go do it!

Eric,

That's correct. I was referring to an LLC. I have not taken any steps into marketing and advertising, I'm still in the preliminary stages. However, maybe we could chat some time, I could use some advice, especially being that you're nearby.

Thanks

Dev,

Thanks for the tips. I actually passed the state exam to become a RE sales person. Are you suggesting that I begin to utilize that? I see it as a great credential. I appreciate your response.

Thanks.

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