How to LEGALLY BIRD DOG not Unlicensed Brokering?

I want to find apartment buildings for investors. How can I legally do this without being licensed?
I was thinking the steps would go like this-
1)Find a unlisted property well below market value. Then
2)Have the investor sign a non-circumvent/non-disclosure agreement stating that I would be a % partner in the deal, or he could buy it and circumvent me for a fine. Then
3)He would do the deal and He could buy out my ownership percentage, I could hang onto the ownership, or he could pay to circumvent me
What do you guys think? Would the above actions make me a principal in the deal and not just an unlicensed broker.
I am going to be consulting a real estate attorney about this, but I wanted to go into the meeting knowing what I'm talking about. Thank you in advance for your help.
In Buying Property - Asked by Jay H. - May 21, 2009
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Answer(s)

Jack D.
Owner/Investor
Gloucester, MA

It will vary from state to state but in most case you would be viewed as a broker as you are marketing a property.
If you really think you know what you are doing you can option the property and then sell the option

May 21, 2009
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Paul S.
Broker/Agent
Glendora, CA

Sounds like a wonderful plan if you want to go to jail and or get a huge fine. Rather than trying all kinds of ways to operate illegally why not just go get a real estate license? In most states they aren't all that hard to get (felons excepted) and if you can't get one you shouldn't be trying to get a "commission" selling real estate. Most states restrict any for of reimbursement without a license regardless what you choose to call it. Remember you can't contract for an illegal activity so your number 2 means nothing. There is nothing wrong with purchasing something with someone else and then reselling. You can split the money any way you choose. You don't need a license for that. Focus on doing things straight forward and above board.

May 21, 2009
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Jay H.
Owner/Investor
Akron, OH

Thanks for the answers, however I'm sure how this is would be illegal. I'm not representing anyone but myself, I'm not pretending to be a broker. By becoming a partner in the deal I would think that would make me a principal.
Isn't it legal for a syndicator to take a percentage ownership for arranging everything?
What about if a friend and I want to do a deal together. He puts up the money, I find the deal and help manage it; but I get an ownership percentage. That's basically the same scenerio as my initial post just worded a little differently.
I do want to be above board, that is why I'm asking questions like this. I also want to be a little creative and create value for everyone involved in such a transaction.

May 22, 2009
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Paul S.
Broker/Agent
Glendora, CA

Co-ownership if fine. You can buy and sell as much as you want without a real estate license if you have ownership. If you buy with someone else you can arrange any compensation you like with you partner. It is not necessary to have any money invested yourself and you don't need a license. Without ownership however I believe most if not all states would prohibit compensation of any form? That said, in California you could probably get $50-100 referral fee from an agent.

May 26, 2009
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