All Forum Posts by: Derek Guyer

I am talking about a real estate salespersons license.

That's great news! Congrats!

You are generating the sale of that property by finding buyers and sellers. You are the "procuring" cause of the sale and are receiving funds for it. You can call it a fee for service or whatever you like, but under the law, it appears as a commission and you put the people together as is regulated of licensed real estate agents.

I did this for a while up until I realized how far over the line I was. People call it a gray area and I can't agree anymore. If it acts like a duck, walks like a duck and quacks like a duck, then it's probably a duck.

As Ryan was saying, I don't see legal action coming up against someone for this, unless you find an agent who is pissed because you're taking the commission that he's worked to be qualified to receive without doing any of that yourself or you piss a buyer or a seller off by not handling the deal well and it being exposed. You really have to be careful of everything you do to keep your butt covered. But in that case, why not go ahead and get your license and do something different than most realtors in investment real estate do? Why don't you take care of the investors well by giving them solid information under the legal parameters of the law and keep all of you safe?

That's the decision I made and while I didn't want to do it at first, I'm glad I did now.

Hey IntegraGSR23 and welcome to biggerpockets! You've obviously got a few people to network with already and I'm sure there are plenty more around. We look forward to seeing you around and hearing how things go with your investing.

Again, welcome to biggerpockets!

Because of the risks involved, I went ahead and got my license. The last thing I wanted or needed was to appear something I wasn't and have problems as a result of it.

Hey Mike. Welcome to biggerpockets! We're glad to have someone with your experience here. See you around.

Michelle, welcome to biggerpockets! This should be a great place for you to get your bearings before you get your feet wet. Enjoy the forum and do your best to make your way around. We're glad you're here.

Agian, welcome to the community!

Russ, you have come to the right place. Your enthusiasm and this forum will do you well, if you take the time to read all of the pieces you can. There's a ton of great information and oppotunities on here.

We're glad you're here. Welcome to biggerpockets!

You aren't the highest, but you're close:

http://cbs4denver.com/business/local_story_044110836.html

I agree, Mike. I don't know if we're misunderstanding you or not, ianternet, but considering the risk is essential to evaluating the deal. I'm guessing that you're saying you don't allow yourself to think very long about the risks involved so as to stop you from doing the deal, which makes sense and can be a good thing. But, you have to think about the risks involved to ensure you have exit strategies in place, have enough money put away, are capable of handling major issues and/or have someone to help who does know how to deal with them.

As Mike said, the risk is there, but once the research is done and the deal has been weighed in the balances, good deals don't have nearly the risk involved because we've planned for it. It's all about knowing the difference and making a decision.