New Member in Tampa Bay, FL Looking for a wholesaler

New Member in Tampa Bay, FL Looking for a wholesaler

Member since 2019 · 5 posts · 1 vote

Hi I'm looking for a duplex/triplex to fix up and rent out for vacation rentals. Let me know if there are any wholesalers on here in Tampa Bay?

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  • Tampa, FL · Member since 2019 · 4 posts · 0 votes
    6y

    Hello Brian. I'm in the Tampa area and am new to whole-selling. I will keep you in mind as I look for deals. 

  • Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes
    6y

    @Brian Armendinger

    Hi Brian,

    Are you opposed properties on the MLS? I'll PM you.

  • Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    6y

    Are you looking for LEGAL licensed wholesalers or people with no integrity skirting and breaking brokerage laws. If someone is offering you properties they do not own ask for their license. If they don't have one they are breaking the law. If they fail in ethics and honesty how much would you trust them?

  • Flipper/Rehabber · FL · Member since 2019 · 15 posts · 2 votes
    6y

    @John Thedford - could you elaborate? What are FL’s regulations regarding wholesalers?

  • Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    6y
    Originally posted by @Craig Bliss:

    @John Thedford - could you elaborate? What are FL’s regulations regarding wholesalers?

     It is illegal to market properties you do not own unless you are licensed.


    https://www.richardhornsby.com/crimes/regulatory/unlicensed-practice-of-real-estate.html

    Bringing a buyer and seller together to make a cut is BROKERING. See 475.

    How can you LEGALLY wholesale?
    1. own the property and then resell it
    2. own any part of the property (even 1%) and then market it

    Most unlicensed brokers are breaking brokerage laws. The tough part is finding a buyer when you cannot openly advertise the property on CL or other net sites. It seems it would be tough to operate illegally because you have to HIDE what you are doing. 

    These "wholesalers" did not have the best of luck:


    https://www.myfloridalicense.com/sto/unlicensedactivity/UnlicensedetailForm.asp?ID=2015053288

    There was a local guy in Cape Coral that spent over 5K learning how to wholesale. They FORGOT to teach them the legalities. I reported him and he got a cease and desist as well. 

  • Flipper/Rehabber · FL · Member since 2019 · 15 posts · 2 votes
    6y

    @John Thedford thanks for the details.

  • Real Estate Agent · Saint Petersburg, FL · Member since 2018 · 10 posts · 8 votes
    6y

    Hey Brian, I'll send you a pm. 

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