LAS VEGAS!!! Motivated wholesaler here..HELP!!

9 Replies

Hello BP,

Like many I have been on here lurking for a while and finally decided to address something here that I need your expertise on. I discovered wholesaling last month and its all I can dream about. Motivated I decided why not...what heck just do it!!! So I went to the Clarke county office here in Las Vegas and to my surprise they didn't have any of the list there or filed to obtain what I have seen so many of my favorite YouTube Gurus say that I need( probate, absentee/ vacant properties, or tax delinquency). So i'm not bummed but or discouraged but wanted to know where some of you local wholesalers get your list and what types of list are you using. Also I have seen no bandit signs here in Vegas...what's going on? Have wholesalers been run out of VEGAS? I don't see much activity here at all. I did reach out to a couple of people here in Vegas who posted their numbers to contact them but I've receive no responses. Please HELP!! Also looking to build my buyers list. Looking forward to working with you. 

Marsaidees 

Try a title company instead. Tell them your farm area and ask them to email you reports. You can also door knock, direct mailers, etc.

Many whole sellers that claim to have deals fluff the numbers to make it sound better than it truly is. I am yet to find a good wholeseller that can bring deals that have accurate comps with a deal good enough for the end investor to flip and still have a decent profit.

Originally posted by @Robert Adams :

Try a title company instead. Tell them your farm area and ask them to email you reports. You can also door knock, direct mailers, etc.

Many whole sellers that claim to have deals fluff the numbers to make it sound better than it truly is. I am yet to find a good wholeseller that can bring deals that have accurate comps with a deal good enough for the end investor to flip and still have a decent profit.

 Never once seen a Vegas wholesaler with a deal that was even remotely close to a deal.. you get the hey can I put you on my buyers list then never hear form them ever or the deals are beyond retail.. I know that market is quite tight.. we only get 3 to 4 a year there through other means.. but wholesaling in vegas in my mind has got to be a tough gig.. I would think if you want to broker real estate those folks should just get a license.

Also Robert let me ask you .. our state of Oregon is really cracking down on unlicensed wholesalers what's the state of NV position on selling real estate you don't own.. or brokering without a license.. do they just turn a blind eye or what.

I made one comment one time about doing a loan for someone In Vegas in Bp and that generated a letter from the finance division of the state letting me know I am not licensed to do loans in NV and if I did I am subject to penalties etc.. I had to give a notarized statement that I had never done a loan there ( which I have not) and if I intended to I need to get licensed.. Oregon is the same way you need a license to lend money no matter if its commercial purpose or not.. if its a 1 to 4 unit.. 

So whats the states stance on unlicensed brokerage or wholesaling as it where.. I cant see these wholesaler closing on the deals then reselling they have to be doing assignments.. I would think..  and of course like you .. I have never seen a deal from one of them.. 

Lending is much more regulated than wholeselling due to the amount of predatory lending that was occurring pre-bubble. 

From my understanding as long as the finders fee / wholesale fee is disclosed to all parties at closing on the settlement statement there is no issue.

Illegal kickbacks, acting as an agent without a license etc is a different story and heavily regulated as well.

Originally posted by @Steven Picker:

There are 100's of bandit signs all over Vegas don't know why she has not seen any

 STeve your not tearing them down are you !!!

Originally posted by @Jay Hinrichs :
Originally posted by @Steven Picker:

There are 100's of bandit signs all over Vegas don't know why she has not seen any

 STeve your not tearing them down are you !!!

 Lol just the ones near your town house

@Steve Picker maybe I'm not venturing out far enough...as all I see bandit sign wise is for new and upcoming properties by developers. @Robert Adams I've seen you say that about wholesaling in another post. I'm hoping to be an exception ( if I have a deal and know it's a deal only then will I try to find a legit buyer). No Fluffing here. I'm pretty good with estimates. My husband is currently getting his realtor license and I am studying right along with him. Trying to get creative and think outside the box so I can win!!! Thanks for responding everybody!!! 

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