since I am just buying houses, remodeling them and them selling them again, can I just incorperate myself? Or is it more to it then that.
2007-01-28 11:38:45 · 7 answers · asked by thikingdomcome 2 in Business & Finance ➔ Renting & Real Estate
You can open a realty company but would have to hire a broker..
so a broker and a realtor..your not licensed..
p.s. the "realtor" and "realty" name is copywritten and part of the protection is to follow what is expected of the trade ...while you may set up and operate if you do not follow the copywrite expectations you will be shut down.
..
www.realtyexecutives.com
has a good website..
2007-01-28 11:56:32 · answer #1 · answered by m2 5 · 0⤊ 0⤋
I think the best vehicle for this type of business is a LLC. Talk to an accountant and a lawyer to be sure. Also, there are tax breaks for real estate professionals. And no, you don't need a real estate license to qualify as a real estate professional (from an IRS perspective) or to sell your own property.
Also, anyone who tells you there is no money in flipping homes has no clue as to what they're talking about. I can make money in flipping homes no matter what direction the market is heading.
Regards
2007-01-28 23:13:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can inc. yourself but you will not be a realty company. you could call yourself ABC realty but you could not practice real estate or receive commissions from the transactions. you need a brokers license for that. Good luck.
Real Estate broker in RI
The guy above me has no idea what he is talking about. The flip market is still there and always will be. The idiot who could buy a house, paint it and make 30grand is not going to make it. If you have a broker finding you true flips you will be fine. remember its all in the price you pay, make sure your Realtor is a good negotiator.
2007-01-28 19:46:54 · answer #3 · answered by frankie b 5 · 1⤊ 0⤋
to be in the real estate business, to sell other peoples houses, you have to be an insurnace broker, At least in TN you have to be a real estate agent for a number of years before you can even take the brokers test.
But there is no reason to become a real estate company to sell houses since as the owner of the home you can sell your own anyway.
If you merely want to incorporate your construction company that remodels and sales its owns houses, you need to check your states laws on real estate sales by corporations.
2007-01-28 21:22:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you're not licensed to sell real estate that would be your first step and from there you'll have to get your broker's license. The laws on that vary from state to state but here in Maryland you have to be license for three years and complete a course before you can take the braker's exam.
2007-01-28 19:47:28 · answer #5 · answered by Pippa 2 · 0⤊ 0⤋
Don't bother. The flipping market is taking a break right now. You're about to go broke. See you in the drive-thru.
2007-01-28 19:45:35 · answer #6 · answered by theangel1025 2 · 0⤊ 0⤋
www.everyrealty.com all about real estate
2014-04-05 10:48:43 · answer #7 · answered by Anonymous · 0⤊ 0⤋