All Forum Posts by: Account Closed

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@Account Closed there is no reference in the book but it's specifically written for the BRE salespersons exam. The author is John Henderson.

Thanks! @Mike H.

@Mike H.

@Mike H.

Did you consult with your attorney yet? I'm anxious to find out because what you mentioned is exactly what I want to do here on the west coast..

Thank you for all the replies. I really like your pov @Ned Carey

I think what it really boils down to is disclosure disclosure disclosure. This is what the textbook I am studying for the exam states: "Whenever [a licensee] is a principal in a real estate transaction, he must disclose to a buyer/seller that he has a license."

I'm getting ready to take the Salesperson Exam to become a licensed agent in California. I took a test prep course yesterday taught by a real estate professional with many years of experience in traditional real estate sales. We were talking about compensation and the ways in which a salesperson in California can legally use his license to earn money. I stuck my hand in the air and asked, "What about wholesaling?" The instructor seemed almost disgruntled by my question and responded, "Wholesaling- wholesaling what!?" I replied, "Real estate." He just shook his head and said that it is not legal. Another person in the class turned around and muttered to me, "You can only do that without a license." Can someone please define where the legality lies? In California, can a licensed salesperson wholesale if he isn't working for a broker? What about if he is working for a broker? I keep getting mixed answers which is why I am seeking a definitive answer on the best REI forum out there. Thanks in advance for your input.

@Chad Ballard could you put me in touch with your civil/surveyor? I am inquiring about this very subject for a property in LA. Thanks in advance.

Welcome! This is hands down the best resource for real estate investors. From the forums to blogs to the podcast, the amount of information is seemingly endless. Dive in and good luck!

Pedaling for profits! Not sure if you're target area is dense enough, but riding a bike is much cheaper than driving around looking for homes, and you get some exercise in too.

You can also use google maps street view to check out properties and then cross reference what you find with real, up-to-date data. The problem with street view is that most of the time the photos are old, sometimes a few months, sometimes a few years. I'm in your boat and have little cash to work with, so I've been trying to get as creative as possible. Hope that helps.

@Sharon Vornholt

Thanks for sharing your expert knowledge.