Do I need a business license in San Diego for wholesaling?

4 Replies

I know you need a Real Estate License to sell a house but I will not be acting as an agent. I will only be assigning contracts to investors. 

San Diego wholesalers my question again: Do I need a business license to assign a contract to a buyer? If so what is the process? Do I need to register a FBN and then a Business license and under what description my business will be?  I will appreciate you guys honest responses thank you. 

As long as the properties you buy and sell are your own, you do not need a license. 

It's only when you're working on behalf of another buyer or seller (which would classify you as their "agent") that you need a license. 

Most investors don't have a license because everything we buy and sell is for ourselves.

You don’t need a business license to buy and sell real estate. Karen’s answer above references a real estate license and is completely different from a business license.

That said, if you plan to assign a contract and in doing so, advertise the property (or the contract) for sale, you would technically be operating without a real estate license which is not legal in CA and many other states. If you plan to be a wholesaler, get your real estate license.

Originally posted by @Will Barnard :

You don’t need a business license to buy and sell real estate. Karen’s answer above references a real estate license and is completely different from a business license.

That said, if you plan to assign a contract and in doing so, advertise the property (or the contract) for sale, you would technically be operating without a real estate license which is not legal in CA and many other states. If you plan to be a wholesaler, get your real estate license.

 Thank you for your thorough reply. I will have a license agent in my team who will be advertising the property in my behalf. I just wasn’t sure of the business license.. I’m planning in getting the business license in the future as my business grow.

Originally posted by @Karen Rittenhouse :

As long as the properties you buy and sell are your own, you do not need a license. 

It's only when you're working on behalf of another buyer or seller (which would classify you as their "agent") that you need a license. 

Most investors don't have a license because everything we buy and sell is for ourselves.

 Thank you Karen. 

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