Hanging Brokers license in Denver, Colorado
Hello BP! I manage my own investment properties here in Denver and want to take over management of a 4 unit building my parents recently purchased. My attorney told me I needed my brokers license in order to manage it, so I took the course and passed the test. I am ready to apply for my license and am running into some difficulty finding somewhere to hang my license. Any advice??
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@Vanessa Thiele As you talk with brokerages, tell them immediately that you want to manage your own rentals and then your parents. Most brokerages are fine with you self managing your own properties, but once you start managing other properties, a lot more rules, potential liability, and bookkeeping with trust accounts, etc kicks in.
The brokerage I'm with, Your Castle, doesn't allow brokers to manage other peoples' rentals. From my understanding, a lot don't.
Start calling brokerages, but very clear from the beginning on what you want so you can sift and sort quickly.