Posted by Ironmanfla on August 30, 2003 at 15:54:14:
Are you planning on negotiating and signing a formal contract to purchase and then assigning them your contract for a fee? If so, you are just being a capitalist. Make sure you are selling them the contract, and NOT just getting a “fee” for your services. I think that is where the trouble would be, as it could be construed as “practicing real estate without a license”, which is against the law here in Florida.
I am an investor in Florida, and not an attorney, so if you want to do a lot of this, I would consult one familiar with NY statutes, as it could save you some money and headaches down the road.
hello, my question is that I have recently found a company (in NY) that is looking for people to locate property for them. There idea is to pay a slight percentage of the selling price to me. The properties would be pre-foreclosures and rehab and flip properties. My concern is that I am acting on there behalf and getting paid but I am not a real estate agent is that illegal? I don’t want to break the law but have strong interest in this idea of locating properties for rehab and flip a good start into the field of real estate.
Thanks,
Charles Schramm,