- Joined
- Sep 2, 2007
- Messages
- 97
Hello,
I have a good friend who owns a decent
portfolio of properties and he wants to know if I would be interested
in managing his properties. I have done some research into this and
since I am not a licensed real estate broker I would be classified as
a manager by way of association. (association management) Since I'm
not licensed I would like to operate on a fee-for-service basis. Is
the only thing that separates me from being a licensed real estate
broker the fact that I initially am employed directly by the owner
where a licensed property manager is employed indirectly through a
contract with a property management firm?
What restrictions would I face by
doing this? Since as long as I am taking Rent/Security
deposits/doing evictions and marketing property on the landlords
behalf I should be able to keep myself legal, right?? Say I like
this and it's going well perhaps I may have room for some more employers?? any thoughts or where-abouts of possible landmines would
be welcome.
Happy Investing
I have a good friend who owns a decent
portfolio of properties and he wants to know if I would be interested
in managing his properties. I have done some research into this and
since I am not a licensed real estate broker I would be classified as
a manager by way of association. (association management) Since I'm
not licensed I would like to operate on a fee-for-service basis. Is
the only thing that separates me from being a licensed real estate
broker the fact that I initially am employed directly by the owner
where a licensed property manager is employed indirectly through a
contract with a property management firm?
What restrictions would I face by
doing this? Since as long as I am taking Rent/Security
deposits/doing evictions and marketing property on the landlords
behalf I should be able to keep myself legal, right?? Say I like
this and it's going well perhaps I may have room for some more employers?? any thoughts or where-abouts of possible landmines would
be welcome.
Happy Investing