Wholesaler · Hopkins, MN · Member since 2016 · 5 posts · 2 votes
Hello all,
I'm looking for an investor friendly real estate agent in Minneapolis (Hopkins, Edina, Eden Prairie, & other surrounding cities). I'm just getting started in real estate investing & recently, last week, got my LLC.
Also looking for advice on Limited Broker's License. How do you get one, what is the process?
Investor · St. Paul, MN · Member since 2014 · 48 posts · 14 votes
10y
Hi @Janie Briones. I am a relatively new investor and agent myself in the twin cities area. I know others have already reached out to you but if you haven't decided on working with anyone yet and would like a to hear how I got started, just shoot me a PM and we can chat. Also I could share with you some great tips that helped me in the beginning. Welcome to BP and get out there and do some deals!
Real Estate Agent · Victoria, MN · Member since 2013 · 56 posts · 29 votes
10y
Hi Janie congrats on the LLC. I am an investor and agent in the west metro and would be happy to help in any way I can. PM me your info and will be in touch.
Real Estate Broker · Minneapolis, MN · Member since 2015 · 14 posts · 8 votes
10y
Hi Janie,
Looks like other agents have already reached out to you as well but if you haven't found the right fit I'd being willing to sit down with you and see if it might be mutually beneficial.
LIMITED BROKER'S LICENSE If you will engage in transactions as principal only, or if you will solely engage in negotiations of mortgage loans other than residential mortgage loans as defined below, you can apply for a limited real estate broker's license. For the purposes of limited broker licensure, "residential mortgage loan" means a loan secured primarily by either: (1) a mortgage on residential real property; or (2) certificates of stock or other evidence of ownership interest in and proprietary lease from corporations, partnerships, or other forms of business organizations formed for the purpose of cooperative ownership of residential real property. A salesperson may not be licensed to act on behalf of an individual holding a limited broker's license. A responsible person of a business entity licensed as a limited broker may act on behalf of that business entity without being subject to the licensing requirements. Fee The fee for an initial limited broker license totals $180 ($150 plus $30 for the real estate education, research and recovery fund). Applying for Your License There are no prelicense education, prelicense examination, or continuing education requirements for a limited broker's license, but you must apply for a business entity license (as an individual proprietor or some other type of business entity) and pay the associated fee. You can submit an application by following these steps: ▪ Visit pulseportal.com. Make sure the pop-up blocker in your browser is turned off. ▪ Select "Minnesota Department of Commerce" from the "Choose a Program" dropdown menu. ▪ Select "Real Estate" from the "Choose a Board" dropdown menu. ▪ Select "Submit License Application" from the list under "Licensing Services." ▪ Select "Organization" from the "Entity Type" dropdown menu. ▪ Select "Limited Broker" from the "License Type" dropdown menu. 46 ▪ Select the entity's resident state from the "Resident State" dropdown menu. ▪ Enter the entity's Federal Employer Identification Number in the "EIN" field. ▪ If the company was previously licensed, enter the requested information in the "Previous License Number" and "Previous License Type" fields. ▪ Enter the entity's full legal name in the "Company Name" field. ▪ Click the "Next" button. ▪ Continue entering the requested demographic information and answering the background questions for the company. ▪ On page 8, read the Attestation and the Tennessen Warning. ▪ To continue with the application, click the "I Agree" button. ▪ Read the information in the "License Application Additional State Requirements" pop-up window. ▪ Click the "Close This Window" button. ▪ Review the information on the Fee Summary screen and click the checkbox next to the statement about your credit card being charged. ▪ Click on the "Submit" button. ▪ The Credit Card Information screen will appear. Enter all requested information. (Note: If your mailing address is in the United States, you do not need to enter anything in the "Country" field.) Click the "Continue" button. ▪ Verify your information on the next screen. If something needs to be added or corrected, click the "Back" button (the one on the page, not the one for your browser). If everything is correct, click the "Submit Credit Card Info" button. ▪ The confirmation page will appear. Please write down the Confirmation ID number and print the page for your records. The Confirmation ID number can be used to check the status of your license application.
Wholesaler · Hopkins, MN · Member since 2016 · 5 posts · 2 votes
10y
@Matt Anderson I missed a step on my initial application process & kept getting confused. But thanks to your reply with the step by step process I was able to get the application done in no time. A huge thanks to you my friend!
Investor · St. Paul, MN · Member since 2014 · 48 posts · 14 votes
10y
Hi @Janie Briones. I am a relatively new investor and agent myself in the twin cities area. I know others have already reached out to you but if you haven't decided on working with anyone yet and would like a to hear how I got started, just shoot me a PM and we can chat. Also I could share with you some great tips that helped me in the beginning. Welcome to BP and get out there and do some deals!