Need help with questions about wholesaling in Ohio.

[Devin Amstutz]

My name is Devin, 21, from Toledo Ohio. I've been really thinking about getting started as an investor. I'd like to start out by wholesaling because I heard it was the easiest way but I've come to some problems. while reading on here I came across an article talking about how investors have been getting charged penalties for practicing "unlicensed activity". Basically selling and marketing houses you don't own or have title to. I know I could argue I'm not selling the property but better yet selling a contract that I have interest in. And I still heard people having legal problems. So here's where I need help with questions. I decided to just take my RE courses online to get my license because I thought that would end the legal problems of practicing "unlicensed activity". But now I'm seeing to take your final exam you have to be sponsored by a broker to practice real estate. Pain in the *** if you ask me. But fine, that's okay. So these are my questions. 1. If I'm sponsored by a broker can I leave after I pass the exam and go about my own with my RE license? 2. Or how do I go about working under my own name? Only want my RE license for access to MLS and so I'm not practicing "unlicensed activity". Any help would be greatly appreciated!

[Ryan Pyle]

Devin, a broker has to hold your license. There is no way around that until you get your broker's license. But there are lots of broker's out there who will hold your license. Usually they will just want a small monthly fee. 

My advice to you would be to get your license and interview as many brokers as you can. Most of them are investors themselves. Many of them are very large investors. I think it's worth working for/with them just so you have access to them and their networks.

Good luck,

Ryan