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One of the most common questions I get is whether or not you need a General Contractor license to flip houses.
I have worked with real estate investors, agents, and skilled tradesman all looking to get a General Contractor license with the goal of flipping houses.
While you do not necessarily need a contractor license to flip houses, you will need one if you plan on doing remodels.
There are some things you need to understand about what a General Contractor License can allow you to do and whether it is right for you.
First lets start with the basics:
House flipping is when an investor buys a house and then sells it for a profit.
Typically, the house is purchased and then re-sold quickly within weeks or months. There are TWO WAYS of flipping houses:
To receive an exam date with the Contractor State License Board, you must meet the following basic requirements:
You must also have:
A General Contractor will often oversee the direct management of a job site and report to either a project manager, architect, or directly to the client.
Construction plans may be delivered to the general contractor who would then asses the scope of the project.
They would then be responsible for:
To learn more about the costs, experience requirements and examination, check out the Complete Guide to the General Contractor License!
California's laws are set up to protect the interests of the consumer. Be sure that you know what you are doing before you get involved in House Flipping.
Check out this great article from Investopedia.com that breaks down what you should know before you get started.
If you do not have any experience in construction and are looking for a place to start, check out the complete roadmap: Apprentice vs. Journeyman!
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