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Account Closed
  • Investor
  • Denver, CO
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Am I in the clear?

Account Closed
  • Investor
  • Denver, CO
Posted Aug 24 2015, 19:35

I'm new to real estate investing and I am closing on a property tomorrow. I should be excited but I'm more nervous. This is the second wholesale deal I have completed on my own however this one is different. The property was brought to me by another wholesaler. I did not tie it up myself but I passed it along to another invetsor. The investor is paying me 13k which is awesome. I was speaking to a friend that is a Realtor and he told me to be careful I might be breaking the law. He stated I cannot broker a deal unless I have ownership rights via the contract. Although I did not negotiate terms or price am I still liable by collecting a fee? The investor had me send her an invoice and she has also placed me on the hud. Feedback would be appreciated. Thanks.

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