All Forum Posts by: Danita Francis

Chris Martin, can you please explain hazard insurance?  Is this a policy you carry on behalf of your business like liability, or is this something one has to purchase on a per property basis?  If so, how does this work and what insurance company offers it?

Hello,

I am getting my Missouri real estate license currently and am wondering what would be the best business structure (pros/cons). Once I get my agent salesperson license and am working under a broker, am I able to operate under the liability protection one of our current LLCs while also working under a broker as an Independent Contractor getting 1099s? What would be the pros/cons of opening an LLC exclusively for my real estate license? Or how does/could this work/does this ever happen/is it allowed/pros/cons? (I would primarily only be using the license to buy and sell our fix and flips so I can save on commission while also having a little more control over the process. Plus, I enjoy it. I may use it to help my sister on her fix and flips, also.) If there is a thread on this somewhere, I'd love to read it, just couldn't locate it. Thanks!

As a rehabber, I’m considering getting my real estate lisence in order to save on commission fees and in order to present my properties the way I want them presented, however, I’m thinking ahead about the Legal, Practical, Financial aspects to consider when weighing Pros and Cons of getting your real estate license as a rehabber or wholesaler. I would be listing my own properties and writing my own contracts for acquisition and selling as well.  (Side note, my husband is my business partner and would not have his RE license.)

Hello--we have all of our contractors fill out W-9 forms, however, as a first year rehabber, I'm wondering if I am supposed to ask the larger corporations, specifically Empire Flooring in this scenario since they provided installation as well as material, to complete a W-9 form?  Or what about granite installers, who provide installation as well as granite?  Can someone please give some insight on this?  TY