November 15, 2007
I feel this would be a great mistake to have so many non lic. individuals selling a investment that require's looking at the clients entire investment risks and objectives. These investors in these properties need the underneath service to be able to manage the cash flow and the investments. Financial professionals meet with there clients at least twice a year but follow the investments they are in daily. Real Estate agents do transactions and leave. The only reason they would stay in contact is for other properties to sell. It is not a service business after the transaction. This TIC business requires bank accounts to be set up. Monitoring of the financials on a monthly basis of the properties. And the paperwork (PPM's) are very intensive. So the only way they should be able to be compensated is a referral fee at the most. To sell this investment they must be LICENSED.