A real estate friend of mine who I have been discussing my plans with and I went to speak to a closing company today. I explained to the lady that I would find homes in distress and etc and agree to a price with the current owner that they are comfortable selling for. I would then add a "fee" to that price and then offer the property to a prequalified buyer at a price that equals the seller's price + my fee. I told her that my fee would be included in the loan amount from the buyer and the seller would only get the agreed to price and I would get the "fee" at closing.
The lady at the closing company told me that I could NOT do that legally. She said I was acting as a real estate agent and unless I had a license, it was illegal. Is she crazy???
NO is not a 4 letter word!
Decisions are a 50-50 shot: yes or no!