myEmpirePROQuestion: “What LICENSES Do You Need To Flip Houses?”
All right, so licenses to flip houses?
I don’t know.
You know, I get that question a lot.
That’s why you see me doing that but it’s a legitimate question.
It depends on where you are in the business.
Maybe it sounds dumb for some, but it’s not a dumb question, it’s actually legitimate question.
What is Flipping Houses?
It means you buy a house for lower, and you sell it for higher.
Sometimes we do that using strategy, creative structuring, like wholesaling,
…like subject tools and stuff like that but it’s still buying and selling houses technically.
All of that is flipped houses.
In recent times they try to separate it, Flip houses means you actually do the work.
But earlier on in my early days, like in the 2005 to 2008 flip houses is more or less,
If you’re flipping it, it doesn’t have to be you who is fixing it,
…If it says fixed, then there’s a fix but these days, when you flip houses everyone assumes that you’re doing the work.
But to me, you’re still flipping a house.
So, what licenses do you need to flip houses?
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Any of the above, either you are fix or flipping,
…or you’re fixing to rent to flip it,
…or you’re fixing to flip to rent it.
Any one of those things which we cover all of those strategies in Real Estate Money Secrets.
Whichever one, you don’t need any kind of license, you don’t even need to have a driver’s license to do that.
You just need to know what you’re doing, that means hopefully you educate yourself because you can burn yourself easily.
Especially when you add the fixing part to it, you can burn yourself.
For some weird reason people lose $30,000 every time they get into fix and flipping, without knowing what they do.
There’s something about that number.
Most of the stories which is a lot of them that I have heard of people trying to get into the game without educating themselves,
They lose $30,000.
So if you’re in a place where you can afford to lose $30,000 sure.
Some people lose $30,000, some people invest $25,000-$50,000 in training.
I think it’s worth it, regardless of how much you paid for this.
If you can figure this out and you start flipping deals and you’re making $10,000/$25,000 every other deal, I think it’s worth it regardless.
You would say the same thing.
What licenses do you need to flip houses?
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You don’t need a license.
The only thing you need licenses to do in this “beautiful” country of ours,
…is when you represent other people’s interests.
Especially when it comes to finances, credit or housing.
When you’re representing or when you come outright and say “I’m representing a complete stranger’s interest”,
…then the government will require that you have a license.
Another thing they require license for is if you’re touching people’s body like they can get hurt physically.
Like, for example, cosmetologists, they get licenses.
I think tattoo artists get licenses as well.
Medical doctors and lawyers.
Why?
Because they represent people’s interest in the court of law.
Realtors and real estate agents, they’re basically there to make a commission primarily, but they’re supposed to represent your interest in negotiating the best deal.
When you flipped houses, you are literally buying to sell a house, and you may say, “but when you’re wholesaling, you’re not necessarily going to exactly do that”,
…but again, that’s why we call it creative.
Technically, you’re not representing anyone’s interest.
Anyone that engages with you when you’re doing real estate wholesaling, you should make it clear to them that this is purely for-profit interest.
If they’re motivated enough, they are still like, “as long as you take away this house, I don’t care”.
That’s why the only requirement is a motivated seller.
How do you find motivated sellers?
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Marketing.
Not calling attorneys, not going to the courthouse, not driving for dollars, not cold calling.
The only requirement here is marketing skills.
And the only marketing skills that exist henceforth to the newest age right now must involve a piece of gadget, smartphones.
If it doesn’t, you’re wasting your time.
I’m predicting it right now, I’m telling you right now, things are going to get terrible and worse.
If you’re still stuck on cold calling and you’re stuck on driving for dollars,
…you’re stuck on knocking on doors, anything like that, if you’re stock on things like that,
The business is going to get worse for you.
Why?
Because that’s a low barrier of entry.
Anyone can come in and do that, and that means more competition.
That means the homeowners are pissed off more by the time you’re calling them.
It’s just gets worse and worse, but when you put yourself in a position where you know that it takes a certain amount of will power to be doing what you’re doing,
…then you can rest assured that the competitions can’t take you out because most people are going to be too lazy to do that.
Well that’s a good thing about that, right?