View Full Version : Real Estate Investing
shayshay
Jan 26, 2006, 07:36 AM
Can a real estate investment, LLC be established without having an associates or brokers license. If there is no desire to represent the general public as an agent in buying or selling real estate and the only goal is to buy and sell real estate as an investment business for oneself. My question is, do you need to have an associates or broker's license to start an LLC real estate investment company.
RickJ
Jan 26, 2006, 07:43 AM
No you do not. I am a real estate investor and don't have my licence for one specific reason:
I'd rather buy and sell as "Joe Public" rather than as an agent or broker. If you are licensed, then you must disclose so when buying or selling, which in my opinion, is not good.
When I buy and sell, if the other party is an agent, then I am extra leery... just like I am of Car Dealership salespeople over individual sellers.
Fr_Chuck
Jan 26, 2006, 10:51 AM
I would look into doing a coroporation, personally but yes you can have a business set up as an investment company in your case they may be investing in real estate right now, but latter could be anything.
Others call them "mangement" companies where they manage property, buy and sell.
Now you are selling the property as he owner, and buying as a owner and will have to pay the fees as such and not charge sells commissions and fees like a broker does.
I would talk to a tax accountant before jumping into it. Theone expert on here Atlanta Tax... sounds real great on tax issue, not sure if he is up on property issues.
But if you are going to have a company doint this you would need an accountant doing your books anyway.
RickJ
Jan 26, 2006, 03:12 PM
Actually the tax end of real estate investing is easy. You'll report depreciation and include a Schedule E. Pretty simple stuff.
The important part to learn is being sure to claim all you're allowed to as an expense.