I was called out by a RE Broker stating I cannot leagally except monies from lease option deals as I'm not a RE Agent with a license...I'm in Massachusetts and I was under the impression it is OK.
An attorney told me you can accept monies as an Investor or be fined $500 for each deal.
Anyone know for sure??
Also, in MA, it states in the RE Agents must work for a Broker for 2 years, splitting their deals and giving any and all monies to their Broker who then pays them a percentage.
The States RE laws also state that an Agent cannot have a RE business on the side while working for a Broker.
Anyone know for sure?