All Forum Posts by: John Smyth

thanks @Jaysen Medhurst. from your experience , how long does it take to pre clear outside activities. Many Thanks!

thanks for postig a response. when you say preclear outsise activities do you mean you invest in real estate investment like multifamily outside in order to prevent conflict. also if you buy in your name as opposed to an llc are the requirements less onerous. @Jaysen Medhurst

All BP Nation- I have a unique dilemma that I will love to hear your thoughts on. I work for a bank in New York City. While undergoing the compliance training I came across one of the prohibited outside activities for bank employees- "acting as a real estate sales person, broker, agent or engaged in buying and selling real estae except for primary and secondary residence". As far I have done my research wholesaling is legal in NY and NJ but does the bank restricition mean you cannot wholesale if working for a bank? Has anyone been in a similar situation or come across anyone that has? I was really counting on Re wholesaling to launch my career into MF cash flowing properties.

I know I will need to sit down with an attorney and get it precleared at the bank , but any advice here on how to tackle will be very appreciated.

Thanks in advance, BP nation.

anyone in BP nation, that have been in a similar situation? will like to hear your thoughts on how best to navigate this issue. I am a very hard working individual that is trying to make a few extra bucks so that I can get started on RE investing with multifamily assets.

anyone in BP nation, that have been in a similar situation? will like to hear your thoughts on how best to navigate this issue. I am a very hard working individual that is trying to make a few extra bucks so that I can get started on RE investing with multifamily assets.

thanks @Shawn Ackerman for the response. do you happen to know anyone who works in such capacity and have been successful with wholesaling? my direct line of business is not retail banking so am far removed from having a direct conflict of interest with single families which I intend to wholesale.

All BP Nation- I have a unique dilemma that I will love to hear your thoughts on. I work for a bank in New York City. While undergoing the compliance training I came across one of the prohibited outside activities for bank employees- "acting as a real estate sales person, broker, agent or engaged in buying and selling real estae except for primary and secondary residence". As far I have done my research wholesaling is legal in NY and NJ but does the bank restricition mean you cannot wholesale if working for a bank? Has anyone been in a similar situation or come across anyone that has? I was really counting on Re wholesaling to launch my career into MF cash flowing properties.

I know I will need to sit down with an attorney and get it precleared at the bank , but any advice here on how to tackle will be very appreciated.

Thanks in advance, BP nation.

All BP Nation- I have a unique dilemma that I will love to hear your thoughts on. I work for a bank in New York City. While undergoing the compliance training I came across one of the prohibited outside activities for bank employees- "acting as a real estate sales person, broker, agent or engaged in buying and selling real estae except for primary and secondary residence". As far I have done my research wholesaling is legal in NY and NJ but does the bank restricition mean you cannot wholesale if working for a bank? Has anyone been in a similar situation or come across anyone that has? I was really counting on Re wholesaling to launch my career into MF cash flowing properties.

I know I will need to sit down with an attorney and get it precleared at the bank , but any advice here on how to tackle will be very appreciated.

Thanks in advance, BP nation.