I would suggest that you do something to ease your wife’s fears. If you do something you and your wife are not in agreement about you are putting your marriage at risk wheather you know it or not. OK having said that I suppose you would like to know how to do that. Email me at the above address and we can discuss it. I am also in NC and my wife and I have been Real Estate Investors for six years now and find it to be a great business. In that amount of time we have accumulated over $1,000,000 in assets. I wish you well and God bless.
Can I birddog in NC without RE license? - Posted by BKopp66
Posted by BKopp66 on October 24, 2002 at 12:43:11:
First off, I would like to thank you Steve for creating a course that moved me from creative real estate student to actually getting out there and making offers. I own Wholesaling for Quick Cash and I find myself referring back to it frequently to refresh myself on a particular topic. I had a property under contract that could not close because a wierd foreclosure action relating to a previous owner was going on that prevented clear title from being able to be conveyed. It was actually a good thing that it could not close as my wife totally freaked out at the prospect of me getting stuck with a property if I could not flip it before the closing date to someone else. In all honesty, I probably would have been stuck with it as my inexperience caused me to offer more for the property than any other investor would have offerred me. Here in NC if you are married your spouse has to sign the deed if you take title to the property. She is highly skeptical that what I am attempting will work and will not sign any deed if I cannot flip the property prior to closing. Basically, this puts me in the position of NOT being able to “sign my name with honor and settle every single deal” as you suggest in your course, Steve. My only option until it is proven to my wife that I can make money with real estate investing is to birddog for another investor. How should I structure this relationship with the investor so that I don’t end up getting charged with practicing real estate without a license if I receive payment based on the sale of real estate? Should there be an independent contractor agreement stating that I am paid a flat fee for inspecting the property and/or advising the investor? Would this protect me from appearing to get paid as a result of the sale of real estate? Any suggestions from those investors in North Carolina who have knowledge or experience with this issue here or any suggestions from you Steve would be most appreciated.
I cannot answer with regard to the issue of getting a license or not, since I’m not in your state.
But, when you said that your spouse must sign the deed as well, something came to mind.
What about setting up a corp, LLC or some other entity and using that to enter contracts?
This way only the entity signs, or someone on its behalf and your wife might feel better about it.
Re: Can I birddog in NC without RE license? - Posted by Josh-NC
Posted by Josh-NC on October 24, 2002 at 15:02:10:
Chapter 93 of North Carolina General Statutes (can be found on the state legislature website) controls the practice of real estate and I am sure you can find a definition of what is practicing real estate and what is not (and govern your actions accordingly).
On the other hand, you may want to consider getting you RE license (I got my salesman’s and broker’s license this summer in just a couple of months and spent less than $1K).