OfflineHope everyone has had a great 2012! This might have been posted before but I cant seem to find it in the forums. Is it possible for an ACTIVE realtor to use his/her's LLC to get a property under contract with a seller and exercise my right to assign the deal to an end cash buyer for a fully disclosed "assignment fee" without stepping on any toes...including my own. Thanks in advance for your help and insight!
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Yes - you can! However, most states do not allow you to act as an Agent AND an Investor in a single transaction. Some state it is legal but most states it is not. You must always disclose that you are and Agent. There are many Agents who are also Investors! You will need to decide with each transaction - am I acting as an Agent? or am I acting as an Investor? It's nice that you have options but you will decide deal by deal which role you are playing.
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to you already about your obligations. Usually you would need to disclose that you are a realtor. You can ask your broker to find out what is right for your state.
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it might depend on your state laws. Check with your brokerage or the local Real Estate Commission. I have seen agents do wholesale deals in my area.
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