I need to hear from fellow agents to know if they do any wholesaling or assignment deals! I want to be an investor but I need to make sure nothing is shady about intertwining the two businesses? What do you all do to make it beneficial for you as an investor? Where are you from? Any advice you might be able to give? I have been toying with the idea of putting my license in holding due to money and expenses that I have not been able to fully use. Thoughts?
Hi Alexis, if you're going to be wholesaling you will be the buyer if you can not find an end buyer. In Missouri and many states you have to fully disclose in all forms of marketing and contact that you are a licensed agent, and you're looking at this house to buy, not representing them as an agent. With that being said you are a licensed agent so you should know more about the actual after repair value of houses and what it takes to fix them up. I also disclose in the contracts that I'm a licensed agent buying this house to make a profit. The sellers are also very happy when it's explained and we are being 100% honest.
Hope this helps.
Hi @Alexis Miranda ,
I'm a wholesaler who got his license to help with wholesaling. We purchase our properties and fully disclose, but I feel that helps with the integrity of the business as opposed to scaring people off. It's helped me get better comps, be more credible, and get the commissions when needed.
I believe holding a license requires disclosure, whether or not you are actively engaged in sales.
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