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Updated over 6 years ago, 08/14/2018

User Stats

21
Posts
1
Votes
Mo Sylla
  • Seattle, WA
1
Votes |
21
Posts

Real Estate agent and Real Estate Investor?

Mo Sylla
  • Seattle, WA
Posted

Good evening ladies and gentlemen.

I am starting in Real Estate Investment and i look forward to paying the price to earn the prize.

My name is Mory Sylla. I moved to Seattle 2 years ago from New York. I really enjoy Washington and do not miss New York's Siberian winter at all. I appreciate Biggerpockets for providing this plateform where inexperienced real estate investors/agents can directly learn from the multiple sources of success on this forum.

This is my first foray into the passionate and highly rewarding realm of Real Estate. I consider myself a lifelong learner and i am the one who will not stop asking questions until i understand the matter. Here we go.

I have been attracted to Real Estate Investment since the term fell in my ears. I am slowly but surely building my momentum. To that effect,i registered with Rockwell Institute,taking lessons online to become a Real Estate agent by next month if everything goes as planned.

Hence my question: is it possible to simultaneously be a Real Estate agent(ergo,licensed)while also performing as a Real Estate Investor? Is it possible to juggle those two balls?

I illustrate my intention(by the way,i am getting all these information from my courses so i have no pretention to reinvent the wheel. I have no time for that anyway lol).

During a real estate transaction,a distinction must be made between a real property(consisting of the land,the appurtenant rights and the "fixtures" such as trees,site-built homes and the likes,etc...)and personal property(the seller's car,couch,chandeliers and the likes,etc...) In the case of a manufactured homes,we enter into a gray area. When a manufactured home leaves the factory,it is a personal property(by its very definition,it is not a fixture,hence not part of real property.) The manufactured home is subject to a sale tax and must be registered(such as your car.) Mark this:to sell a manufactured home,an person sdoes not need a license,but needs to have a mobile home dealer's license.

When that same manufactured home becomes permanently affixed to the land is it sitting on,it ceases to be personal property and becomes a fixture to the land after going through the process of title elimination. It is now subject to property tax. The selling and listing of that same home is now conducted by a licensed real estate agent.

Given that Real Estate Investors buy and put houses under contract(i often hear that a license is not required)i am wondering to know by what mean is that possible? How can a Real Estate Investor put a house under contract and sell it to a buyer without being under the radar of the law for want of being licensed? 

Don't get me wrong. I have nothing against that. If anything,i consider myself first and foremost as a Real Estate Investor(even if i have no money presently and have yet to close on my first property.) This is just to find the right avenue to intelligently navigate those two opposite currents of being able to have a license and apply my acquired knowledge to be a succesful real estate investor without having that sword of Damocles called the Law hanging over my soon-to-be rich head.

I welcome all suggestions and please rest assured that your solicitude is greatly appreciated.

Thank you for taking your valuable time to read this missive.

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