All Forum Posts by: Anthony Kirlew

Yes, @Mindy Jensen and @Ivaylo Georgiev Petsanov that is 100% a SCAM. There are NO companies paying big money for timeshares because they do not have resale value. (If a company wanted them, they would work through a broker to acquire them at wholesale prices - i.e. free - anyhow.) 

If you want to get rid of your timeshare, I am happy to chat with you. I work for a company that helps people get out of timeshares.

I also have a friend who fell for that "Mexican timeshare scam" and was taken for $29,000! When he told me how elaborate the scheme was I was shocked. They told him he couldn't talk to the resort about it because it would upset the staff and jeopardize the deal. They even sent him links to bogus attorney profiles and said they were working on the deal.

If you want you can also pick up a free copy of the Consumers Guide to Timeshare Exit, which discloses that at many other timeshare exit scams. You can get it at https://NewtonGroupTransfers.com/Guide/

I hope that helps and do not hesitate to reach out.


 

Thanks @Russell Brazil, perhaps it's the MD law engrained in me as I started my Real Estate career as a licensed agent in MD.

I truly appreciate all of the insights here from all that have responded.

Thanks @Mindy Jensen. It's great to be here and I am glad we met at FinCon.  I am surprised I had not heard of Bigger Pockets before, but I have not been super active with real estate investing in recent years either.

I know lots of agents are also investors, so I am sure I am not the first to ask this question, or have this thought. Although I am not an active agent, I guess I have an ethical challenge with making a big profit on a wholesale (i.e. middleman) deal when I could have advised the seller how to keep that profit for themselves. I would feel it's my obligation as a real estate professional and if I was not looking to profit, my advice would certainly be one of protecting their best interest in terms of maximizing their profits. I say this with the understanding of the fact that some people "just want out and want out quickly".

@Cara Lonsdale I am asking to learn from the experiences of others. I am just getting back into the investment market; when I invested prior, I was not wholesaling so it was not a concern. And I am licensed, but I am not an active agent (referral agent only). I am aware I need to disclose on the contract, but was just curious to hear how others approach this.

I am curious to know how those who are licensed agents handle the issue of wholesaling. I am a licensed agent and just starting out with wholesaling. Does anyone see a conflict in buying a property from someone at wholesale and profiting as a middleman when in theory you could have brought the end buyer to the seller as an agent? 

I understand that no one can guarantee a quick sale as an agent, but essentially, you are performing the same function in finding a cash buyer to take over the contract.

Help me put my mind at ease :-) Thanks!