Cooperative/Link option

If I want to strictly do Cooperative/Link options, would I need to have a real estate license? Some people told me that it varies on what state you live in. If you do need a license would you lose money because you would only receive a small % and the rest goes to the broker? Is it even worth doing? If anyone has had success do these type of deals, please let me know. I am very open minded and would love to begin my real estate business.

I’ve been doing Cooperative Assignments for about 10 years. I am not licensed nor do I need to be licensed. I’m a principal in the deal and I assign it. Nothing illegal or shady about this strategy. I suggest you contact Michael Carbonare over at The Naked Investor. He’s very well versed in these.

I agree with AJ on this…as a Principal in the transaction, one does not need to be licensed. In the early days of my investing, I would put a provision in the contract that Buyer has right to Assign. After dozens of deals, I began using “Buyer’s Name, or Assigns” and eliminated the need for a provision stated in the contract for the right to assign. If Seller did not like it, I would walk from the deal confidently knowing there was another Seller in need of my contract to solve his problem.

Hope this helps.

Rob in Atlanta