REO investing

[Account Closed]

Hi, I had a couple of questions,

I am thinking of trying my hand at becoming an REO agent. I will be getting my NC real estate license next month and working as an agent. While I am doing that I want to be investing as well, mostly in REO's, depending on the circumstances, using a different exit strategy for each (buy and hold, rehab, wholesale).

My question is if I have a business set up for investing and my wife as a partner, through our business can she bid on the REOs I receive as an REO agent? And for that matter, can I offer on them as well if I see one I like, or are there conflicts of interest, ethics problems?

Hypothetically speaking if this is no problem as a Real Estate agent how would I sell them? because they wouldnt be through the agency would it be FSBO or do I list it with the agency and split the commission?

I am trying to put together a 5 year plan and am getting all the info I can to start on the right track, not thinking I can do something I cant.

Thanks for any help.

[Anson Young]

Steve is correct, out of the 35 banks we work with, not one will let the listing agent buy the asset.

I know an agent in town whose wife buys his inventory. If the bank knew this they would fire him immediately...