I currently am working in a REO department in San Diego. I started investing about a year ago on the side and it is really starting to come together. My superiors want me to obtain my license. Would this be a conflict of interest with my investing career, if so why? Your answers are much appreciated…
If you have your RE license you can sell your properties without an agent, so you save on commission i guess.
Yossi,
You would still have to pay commission to the buyer agent, and to your broker depending on your agreement with him.
Dealmaker,
If you plan to cheat people, then don’t get it. If you plan to invest honestly and be upfront with the sellers and buyers, then it helps to have a license not hurt.
It puts you under more ethical scrutiny. Easier to f’ up. Depends on where your bread is buttered. This market isn’t going to last forever.
Need feed back on REO buying. I was recently told that if I sell more than X number short term held properties I could be tax as a “real estate dealer”. Can someone address this issue. Please post your responce here or PM me. Thank you in advance.