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The WA State Law Against Flipping |
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Last night I attended the monthly Real Estate Investors Association meeting here in Bellevue. There was a very animated discussion about the Washington state law requiring anyone doing work on a property that will be sold or leased within 12 months to get a contractor license. From what I heard and understand, it is a very ridiculous law that was led by the efforts of the Master Builders Association and Electrical Contractors unions. As Dean Dretske of Keller Williams pointed out at the meeting, every single real estate professional and investor in Washington state should be furious about this and do everything we can to get this law changed. The law itself is unclear (attorneys can't even say for sure what it means) and unfair. For more info, see Dean's blog or this great post by real estate attorney Russ Calfano at RainCityGuide.
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