Quote:
Originally Posted by Barry-xlovecam
I don't know exactly what the laws and licensure laws are in Kansas -- you need to research that. If you want to buy properties you can buy all you want but in many states there is a limit of properties (real estate) you can sell in one year without a broker. What we used to do was pay a set fee to a real estate broker or have a broker on staff.
Buying and selling promissory notes with the Deed of Trust securing them (in many states this is like a mortgage), land contracts and mortgages, as well as options contracts on the aforementioned instruments -- as a principal party -- does not require a license (at least in places where I have operated). Get a lawyer licensed in Kansas to validate this -- your laws may differ there IDK.
Also, take a study course for a real estate salesman's license at a community college -- get some basic working knowledge -- you don't have to go take the test -- just pick up some lingo and understand your state's laws better.
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Yeah that's where I learned some words like appurtenance and life estate and JTWROS and shit like that- as soon as I heard about life estates I invented reverse mortgages but someone else apparently had already thought of it.
My idea was to offer lump sum cash for old people's house when they're dead since so many of them have garbage children who hate them anyway. It was a total of 40 hours and I went a few extra days for some extra shit somewhere else.
The first part the 40 hours wasn't at a college but it was a guy named Dave Gosha - he was awesome. He explained that most of what we learned would not be all that useful on the street and taught us some extra stuff about how shit really works.
I really liked that guy
I'm not aware of any limits but we did talk about some downsides to having your license when you're dealing in property in most ways. Having to disclose this having to disclose that, having to be careful when dealing with so called unsophisticated investors, shit like that