Broker Buyer/Seller Rules and Regulations regarding Investment Property Transactions

[Paul Monson]

I am a licensed broker currently in Sacramento, CA and am unaffiliated with any other brokerage. What are (or where can I find the resources regarding) the rules and regulations (+ best practices/recommendations) for representing myself as a buyer (for now) and later a seller of investment property? Starting with a Residential (1-4) unit owner-occupied/vacation property and eventually other asset classes including but not limited to Small to Medium Apartment buildings, Self-Storage Facilities, Mobile/RV Parks, and Marinas. Initially as an individual but possibly as a Partner or General Partner or Syndicator. Thank you!

[Russell Brazil]

Not need e&o? You know the #1 claim against e&o policies is for agents acting as principals in the transaction. For that very reason about 1/2 e&o policies will not cover you when you're the principal. A number of carriers limit you to 3 or 4 deals. If you are primarily representing yourself, the cost of a policy is a lot.

But dont have a policy at your own risk. You might not be required to have the policy in your state, but it would be foolish not to have one.