Question: A family member is retiring within the next three years. She’s spent the past four years acquiring a nice portfolio and client base. My wife, sister and wife’s best friend all have their realtors license. Is it possible to have my family member leave Remax, form an S corp (use her brokerage license), form her board of directors and then hire me to run the company under her license? No I do not have a brokers license just realtors license. Our idea currently is the above to hire wife, sister and friend till wife hits her 2 year mark and 50 points needed( I could put my name on sales to achieve 50 pts but rather operate the business and avoid that). We would then form another S corp or Llc (CPA dependent) to buy out the current family member so they can retire and we can operate under the wife’s license keeping everything under the same “umbrella” while I oversee. Is this possible in Colorado? Or do I need to get the 2 years and 50 points first before “operating/partnering” a firm?
This is at a macro level, we understand there’s classes, fees, attorney docs etc to accomplish my family member branching on her own and having my self operate. Just seeing if anyone has done this before.
All friends and family don’t operate their license full time and would need more sales to hit 50 points.. if you were wondering of having them branch off quicker than the two years.
My experience is in land development and private equity funding for ground up projects. My wife an I currently have 5 properties. She manages them currently under a subsidiary of our llc.
If you’d like to have a deeper conversation getting into more of a micro level and discussing the proforma/cash flow/umbrella I’m completely up for that. Not many people enjoy talking this sorta thing so would love to chat business with someone.