Question :
After reading everything that has been archived with the word "license" in it, I still have the following question:
Do I need to have a business license to invest in real estate? I just recently reserved my corp. name and am waiting for the paperwork, but do I also need a business license? I plan on doing deals subject-to, lease option, and wholesaling, to start.
Answer By William Bronchick:
In most counties and cities, you are required to obtain a business license. This usually requires paying a small fee each year. Many home-based businesses either ignore this rule or are unaware of it. Whether buying real estate is considered doing "business" is a very gray area of law. If you do not have a storefront, employees or billboards, I cannot imagine your city or county will give you a hard time.
Disclaimer: The foregoing is not intended to be given as legal, financial or tax advice, but intended for instructional use only. If you require legal, financial or tax advice you should seek the assistance of a qualified professional.
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