Updated over 8 years ago on . Most recent reply
PROPERTY MANAGEMENT WITHOUT A LICENSE
A FRIEND ASKED ME TO MANAGE HIS DUPLEX FOR HIM IN LOS ANGELES CA. AND SAID HE WOULD PAY ME TO DRIVE FROM SAN BERNARDINO CA. TO MANAGE THE UNITS BY TAKING CARE OF TENANT PROBLEMS, REPAIRS AND TO PICK UP RENTS HE IS IN HIS 80'S NOW AND SAYS IT IS TOO MUCH OF A HASSLE FOR HIM NOW BUT NEEDS THE INCOME
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Check the details of the law. If he has an LLC or corporation he may be able to hire you as an employee and then you can manage as the 'owner'. He could also sell you 1% of the business for $1 and have a written agreement that at any time he can buy the 1% back from you for $1. Now this would have tax implications because you would be owed 1% of the business profit every year, but all I am saying is that their are ways that you could be an owner and therefore not need a license. I would consult the law and even an attorney familiar with CA real estate law before proceeding. You dont want to be dragged into court for practicing real estate without a license!