Real Estate Broker · Rocky Mount, NC · Member since 2014 · 45 posts · 3 votes
I'm a new real estate broker but I want to invest. Are there any Creative Real Estate strategies that I am prohibited from doing as a broker and what type of disclosures to sellers would I have to make even if I am a party in the transaction? I want to buy and hold to build a portfolio.
Involved In Real Estate · Upper Marlboro, MD · Member since 2014 · 246 posts · 230 votes
8y
Yes!
Anything that looks like a “Net Listing” is to be avoided. So do not wholesale, nor let any of your (future) Agents wholesale deals that are your listings, or where you are acting as a “Subagent”. As far as disclosures, just get in the practice of adding “one or more parties to this transaction is a licensed real estate professional” to all of your contracts, where you are acting as a principal and not (just) a broker/agent. Other than that go have fun, make money and have a good real estate attorney at “the ready” for those one off deals you’re not 100% sure about...
Flipper/Rehabber · Greensboro, NC · Member since 2010 · 623 posts · 615 votes
8y
@Chris Purvis There are so many restrictions once you have a license which is why I don't. As an investor, I don't need a license because all of the transactions I'm involved with are my own and, as you know, you can do what you want with your own properties.
Great that you're making an effort to learn the rules before getting into trouble. So many do it the other way around!