Labeled as Note Broker without License!

[Scott R.]

I live in California and was about to get into not brokering. As in not buying the notes but finding them, passing to large company, negotiating with the owner of the note and taking the difference.

I have read a few attorneys saying you need a brokers license after 7 or 8 deals.

then i read on the DRE for Ca something saying that if you arent personally buying them then selling them you are a note broker and need a brokers license. Im confused because i know there are people doing it but i dont know if they are simply using a different "Name" for it as in a gray area of the law. I know you cant give LEGAL advice but can you tell me what you do or heard others do