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Updated over 7 years ago, 08/29/2017

User Stats

8
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0
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John Smyth
  • Avon, CT
0
Votes |
8
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wholesaling while working for a bank

John Smyth
  • Avon, CT
Posted

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.

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