So happy to join this community. As a newbie I wanted to start by doing simple wholesale deals. I wanted to make business cards and put Bird Dog Referral fee information on the back of it. How can I do that without breaking any laws in Florida? (it seems offering a referral fee is illegal in Florida). Thanks for your help.
Welcome to Bigger Pockets Dawn. You have joined a great information highway for sure. Good Luck with your venture!
My suggestion would be to get your real estate license. In Florida, it is illegal to pay referral fees (i.e. bird dog fees) to anyone who is unlicensed. It is also illegal to advertise these services.
Of course, this goes out the window if you have an equitable interest in the property (i.e. a signed contract). That makes you a party to the transaction.
In summary, either get your license if you want referral fees or do traditional wholesale deals.
@Matthew B. Read all of Florida Statutes, Chapter 475. Then tell me if that "equitable interest" stuff is really exempt.
@Wayne Brooks I have a feeling you've read all of Chapter 475. What are your thoughts?
Welcome. Fill in the foundation below as a starting point.
Check out the Start Here page http://www.biggerpockets.com/starthere
Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.
Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook
Consider checking out HUD homes for small multi's owner occupied gets first crack.
You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Hey @Dawn Rawlins welcome to the site! It's great to have you!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you