Illegal Conflict of Interest?

[Tyler Jutting]

Hi Everyone,

About me:

I am a long time reader and listener of the podcast. I have spent around 6 years learning everything I can about real estate investing without the money, time, or means of getting my first property yet.

Background:

I am going into my sophomore year of college at USC in LA and I received a job offer from a networking/learning meeting I had with a commercial investor who does value add apartment investing in the US. He has a personal portfolio of around 10M over 4 apartment buildings. I spent the summer adding value using my past 6 years of learning to an apartment building he owns. He is now about to cash out refi around 1.2M of equity earned through forced application on that property. He loved the work I did for him and money I’ve made him this summer.

He is planning on starting a real estate based private equity fund in the next 6 months and has asked me to partner with him in a minority equity position of the fund. I am really excited for this opportunity. Although, I would like to get my commercial real estate license as well and eventually become a commercial broker. This would require me being sponsored by a commercial firm.

Question:

Is it an illegal conflict of interest for me to be investing in commercial/multi family real estate with investor money (private equity fund) AND being a commercial agent and eventual broker simultaneously at a different firm?

I would love some advice here if anyone can help. Thanks in advance to anyone with some insight.