Advice Needed From DG Family

I wonder if you told him of your intentions initially, that you were wanting to learn about investing. I don't know the answer as I am new to this to, so I will watch this post to learn. My only advice is to talk to him and maybe look for another job when you can. Meanwhile you are learning and earning a paycheck.

Did you sign an agreement or agree to bring him deals? If not, I would argue that you can find your own deals.

On the property management side, I DO see this as a potential conflict of interest. While you're working for him, showing one of his properties, you could undercut your boss and redirect the tenant to one of your own properties. Your boss should not pay you to show a tenant one of your properties while the boss receives no benefit.

Can you find some properties and then wholesale them to your boss, or do you have to just tell the boss about them and then get out of the way giving the boss more money?

It would just depend on what arrangement you had with the boss at the time of hiring.

Yes, It's definitely a conflict of interest and so we understand why he does not want you to participate in finding your own properties. That's why I wonder if you told him you wanted to learn the REI ropes, so to speak. Maybe if you talk to him again you can work out some arrangement.

as ask above : did you sign an agreement upon employment?

if not, no problem.

ask him if you can go find a deal and get it under contract and then wholesale/assign to your boss, this should make him happy and make you some cash

If you did not sign an agreement to not look for properties, there should be no problem with you looking for deals for yourself. Just see if he is willing to buy wholesale deals from you. If not, maybe it's time to part peaceably if he is holding you back from doing deals that you know you can do. I do agree with Gangremond and femailceo, you should not mess with his RE business and he should not mess with yours.
I hope everything works out well!

RENinja

I once worked for someone that sounds like your boss. It was not fun being treated that way. Being treated as an employee does not allow me to reach my entreprenuerial goals.

While it was hard to go through the tough transition, I always believed in myself. So I walked away from the J-O-B.

I cannot / will not live someone else's idea of what I should be.

I will not be an employee of someone making money off my efforts when I am capable of being responsible for my own destiny.

Only you can decide if you are able to make your future on your terms.

I am not willing to have a job ever again while someone else dictates my destiny.

Only you can decide your future.

Wishing you the best.

I'd urge you to do your own homework. I know in SOME areas it is illegal to "ACT" as a property manager without having a license.

Not sure of your arrangement whether you are treated as an employee (on payroll, taxes withheld and to issue W-2) or if he's paying you cash, or simply paying a flat amount or % then intends just issuing a 1099 at YE. Either way, your 'boss' stands in a better position.
(meaning if he reports you as acting as a PM and you are required to be a licensed broker in your state to manage properties it COULD raise a flag)

Yes, you can do pretty much anything for any amount of time without getting caught, but who'd want to run a business like that!?! Right now, it's not a business you have a job. (referring to the PM aspect)

just do some homework, so you don't get dinged. Keep it legal and legit, and then you don't have to worry about it.

On the question you imposed as to what to do: Any hindrance that you see or allow, is only self inflicted. NO ONE can stop you if you don't allow them to.

just my .02

Blessings,
Jen

Although I am not an attorney I do have some business experience in exclusivity
contracts.After reading your post this is what I have come up with: you need to
look at any original agreement and look for these words,non compete,exclusivity,
and non disclosure.If you find any of these words it will then have to say specifically real estate or real estate investing. This man
hired you to manage his properties for him and if you were trying to obtain
properties for yourself to rent out or even lease option I could see a conflict of interest but you are wanting to wholesale and flip properties which has nothing to do with property management.This man sounds incredibly greedy and selfish to me and in my opinion you should get away from him as fast as you can!
I am sure there are many people on this site that would be willing to help you,
myself included.PM me and I will give you any assistance that I can.I have resources at my disposal and they are nation wide.Don't let the dream killers win, you have a family here that are willing to help you succeed.
Keep the Faith & Blessed Be,
Robin R. Knight

When I was hiried I did not sign any agreements and I did let him know that I wanted to someday wholesale for myself and he was o.k. with that.I am a loyal employee to his business 40 hrs a week and would not look for properites while on his time.I just wanted to face my fears and step out and take action to get my own deal on my own time but he is not o.k. with this and he does not want me to wholesale to him just want me to bring him deals.So I guess I have two choices keep working for him to grow his business or find another job to cover bills while I look for properties to wholesale.

Thanks So Much For Your Reply
Lexia

Thanks to DG family for all the great advice it really helped me look at things differently and it also made me feel part of the family and gave me the confidence I needed to move forward and not let anyone or anything stop me from reaching my goals.I've been losing sleep over this for a week now I feel like a weight has been lifted off of me. I should have asked for advice sooner.

You Guys Are Great
Lexia

Lexia,

you say you want to do wholesaling on your own; you also say that you are working with the investor to help him manage his properties. You are not buying properties to lease, so I don't see where the conflict is; I think your boss is being controlling and greedy.

Ultimately you have to decide what will benefit you the most; keeping the job and giving up your opportunity to become an investor yourself; keeping your job, and wholesale on your own time; or looking for another job that won't interfere with your wholesaling.

Wishing you success,
Valerie

Your goal is to become a successful full time real estate investor correct? Don't allow your fears hold you back. Let it be more painful to you that you do not achieve your goals. My greatest fear is to get out of high school and become exactly what all the people around me are telling me I am going to become, just like them; often broke, struggling to take care of a family, struggling to pay bills, throwing away their life working hard for money rather than having money work for them, hating their boss, whining about all troubles in their lives... I WILL NOT allow someone to tell me how my life is going to be! Dean says we make the choice of how are lives are going to be. The decision is mine and no one else's! It is more painful to me to become like these people, than to not achieve my goals.
Know that you have the support and encouragement of the DG family.
Push forward to success!

RENinja