I am a new investor that is staring to building my company, I have been working with a mentor on lease purchase options(sandwitch lease and coopertive assignments) Is it legal to do this without a real estate license in NY and NJ?? My research tells me yes but I just had a brooker responding to one of my emails say that Im operating ILLGEALLY! Which I don’t want to be doing, is he right or does he just not want more competition? Please help!
I got this information below from a real esate attorney on JustAnwser.com
I"n New York, do you have to be a licensed agent to conduct lease options on residential properties?
No, you wouldn’t need a real estate license to work out lease options with prospective sellers or buyers. However, if you were representing somebody else in your dealings, and not negotiating on your own behalf, you would need a license."