Hey guys and gals,Last week I made a post going over regulations and licensing in Austin, TX.This week, I want to add what the actual penalties are for a failure to comply with their requirements . This is fresh info ...

I have little to no respect for these unlicensed brokers.

The problem with most wholesalers is that they are not wholesalers, they are unlicensed brokers.

I'm an unlicensed Investor working under a business.

Never heard that term, but I worked as a unlicense assistant, licensed assistant, agent and broker.

I wrote a post about it on the unlicensed brokering forums titled something like "10K Assignment Fee".

I save 3% on every flip I sell, I get paid 3% on anything listed I buy, and my credibility far exceeds that of an unlicensed wholesaler. 

@Zachary HelferI don't know OH laws but there has been quite a bit posted on BP including threads about people being fined by the state for unlicensed brokering.

Each state has specific laws however if you are paying someone that doesn't have a business, is unlicensed, and uninsured then you are hiring an employee.  

They sent me a letter that they were investigating my unlicensed activity, I had to have my lawyer clear the issue up by showing them that there was nothing unlicensed about me being the Buyer of properties.