Real estate brokers can provide invaluable advice and support to newbie house flippers. If you flip several properties, those fees can add up, giving you even more reason to earn your real estate license prior to flipping houses. If you’re not a broker, you’ll have to pay-sometimes as much as $1,000-to list your property on the service. Here’s the catch: You have to be a real estate broker and a member of a national, state, and local real estate association to gain access to the MLS.
“Other sites aren’t reliable 100% of the time. Unlike some online listing sites, the MLS data “is accurate and verifiable,” Gallagher says. It’s the place to go for accurate information on for-sale properties. When buying and selling homes, the Multiple Listing Service (MLS) is your best friend. Having knowledge of what can go wrong-all the liability issues-can really help reduce your risk.” Step 2: Access the MLS “Everyone thinks that real estate is easy,” Gallagher says. “The national exam gives flippers confidence that they’ve mastered the material.” That material includes information on disclosure forms, zoning challenges, financing details, and homeowners association regulations, all of which are critical to buying and selling homes. “Most states have several disclosure forms required by law,” says Bill Gallagher, a Charlotte, NC real estate broker who’s taught pre- and post-licensing courses for 25 years. A real estate license will open up more opportunities for you, and it will guarantee that you at least have a foundational understanding of the real estate market ins and outs.
You don’t technically need your real estate license to become a house flipper, but it’s still a good idea. When beginning a flipping career, it’s a good idea to be prepared.
Want to get started in house flipping? Here are the steps you need to take to become an intelligent house flipper. 6 Steps to Get Started as a Property Flipper If you’re interested in becoming a house flipper in North Carolina (or anywhere else for that matter) the least you can do is read through our six steps to starting a property flipping business. Unfortunately, because of reality TV, virtually everyone thinks they have what it takes to flip houses, but the reality is-it’s not that easy. Since it requires a sizable investment for the down payment and repairs, becoming a property flipper can also be quite risky. Property flipping, or house flipping (or “fix-and-flipping”), can be a lucrative way to earn money in North Carolina real estate-if it’s done right.
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