Wholesaling legally update from Arkansas RE Commission meeting

7 Replies

  • 02/14/19 07:00PM - 08:30PM America/Chicago
  • Hilton Garden Inn, 10914 Kanis Rd Little Rock, Arkansas 72211
  • Free

Disclaimer: BiggerPockets does not support or sponsor any meetups unless otherwise noted. Do your due diligence before attending any events. You may be agreeing to attend an event that includes promotion, pitching, or high-pressure sales tactics or techniques. There may be pitching of products, services or properties at this event!

Arkreia main monthly meeting.  Randy Thomason will be discussing the information received from his meeting with the full Real Estate Commission regarding what is legal and what is not legal in the eyes of the Commission.  What things are the specifically targeting when looking for illegal activity.  What you should be doing to make sure you are in compliance with the law.  

We will also be updating everybody on the market trends nationally and more specifically in the Central Arkansas.

  

Let me see how things turn out. Experience has taught me that government (or quasi gov) officials dont like to get pinned down to specific answers  if i get some good info i wil put something together and get it out there for everyone

I live in Searcy and was just telling my wife about the meeting and as quickly as I got out it is tomorrow she shot back it is valentines day. Not sure which is more costly, breaking the law or getting a costly divorce and splitting the assets???   I will look up the group info and hope to make it to the next meeting you have. 

Experience has taught me that government (or quasi gov) officials don't like to get pinned down to specific answers

When Jeff Watson interviewed some top people from the Ohio real estate commission. They wanted to say wholesaling by assigning contracts is illegal. They did everything they could to imply it, but they simply could not come out and say it directly.

@Ned Carey, That's right. Jeff did a fantastic job on that education interview piece and I am trying to get the Arkansas Commission to do something similar.  The lead investigator here and Jeff know each other and we discussed doing something in the near future, Maybe, if it can get approved up the chain.  I am going to ask Jeff's help next month when I see him and he will be with our investigator in April at a meeting, so hopefully we can push that forward.

The biggest thing about this meeting was it happened, and they discussed the issue.  I have been trying to get this done for 18 months so I guess I wore them down.  

I must say that in the beginning the Commissioners were closed off but as we discussed things they relaxed some and realized I was there to truthfully get info and not any "gotcha" moments.  We agreed to have further discussions in the future to see how we can work together to make the industry better in the state.   We shall see how that goes, and if it goes as time goes by.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here