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Updated about 9 years ago on . Most recent reply

User Stats

149
Posts
75
Votes
Austin Mudd
  • Real Estate Agent
  • Los Angeles, CA
75
Votes |
149
Posts

Can I assist a wholesaler in CA without a license?

Austin Mudd
  • Real Estate Agent
  • Los Angeles, CA
Posted

I may have the opportunity to work under a real estate investor who has a good amount of years of experience in the industry. One area he is working on currently is using his buyers list to sell deals to. So my job with him, would be to cold-call potential sellers. I'm interested in REI and I have thought this would be a good and flexible way to learn the business from someone more experience who has similar long term wealth-building goals as I do without me having to risk any capital.

The deals i'm responsible for, he would split the wholesale fee with me 50/50 to a maximum of $5,000. I cannot hold a real estate license due to a future full-time job, so I was wondering if I can assist in his duties and share a fee with him. I don't know if it's him paying me after he receives the fee or it's split at close. I also don't know if he's a broker or agent. I also don't know how he exactly intends to close - whether through assignment or double closing. We had a conversation over lunch, and these are questions I'm going to go back and get clarification. 

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