All Forum Posts by: Felix Goldstein

i can dial it back  it just irritated me that i got defamed and that there are people on here like attorney sanchez that are misleading people. like the whole deference that the court does. come on, that is ridiculous.  and im sure he knows that.  yes people on here seem to be for the most part alright. 

u mentioned abt people guessing how many transactions me or my company has done.  i wasnt going to comment but since you brought it up again... when i assign a contract to someone that is done privately. im sure u know that.  are you trying to get on my nerves again? so there wont be a public record of it.  also perhaps i have more companies that i created. you never know that. and just because my name does not appear as the incorporator on the secretary  of states site, does not mean that i dont own the company. 

@Peter Sanchez

@Richard C.

 @Chris Seveny, interesting so they werent free standing? it was the one part that sticks out of the mall for an anchor tenant?  yes a lot of companies will buy the real estate their store are on. wal mart, circle k, etc. u say "since they were technically an abutter", huh? 

and i did win an award for this post :)

Some people on here haven't read my account of what the dept of real estate told me.  The investigator said wholesaing is illegal. then i asked to talk to his manager. he said yes also. then when i explained to him why i think it is legal, he got their lawyer on the phone! She didn't tell me No.  and i would of already gotten a cease and desist letter form them.  i didn't hide from them.  i was kind of nervous when calling them.  but i figured that is the best way to make sure i don't get in trouble.  

@Eric Beale i didn't send them a signed copy of my contract. however, i did tell them that that is the contract that i use, and then i told them that after that is signed, i make a nice flyer and send it out to my list.

  @Randy Johnston what sites were you talking about that i was searching on teh internet? the court case that i found? you must not of read my experience when calling the Real estate dept carefully.  Also, their actions speak louder then their words.  they know my name, company name, address and telephone number. that was in my email that i sent them. as far as their actions. its what they didn't do that speaks louder then their words. they didn't send me a cease and desist letter. unlike some people on here playing games, you actually seem like you are trying to help me. not looking to get in an argument with you. discussion is good. arguing is not. i called the investigator manager a goober becuase among other things he told me that the local city here has no regard for real estate law. that non sense that he was saying that is why i called him a goober. i would use a lot stronger language, but this is a professional website.

nd when you market a property there are required documents such as Seller Disclosures, Agency Disclosures, Legal Disclosures and Lead Paint documents that need to be completed. If the wholesaler isn't executing those documents, then he/she is just asking for trouble. Furthermore, as a licensed Real Estate salesperson who spends thousands of dollars annually on Continuing Education, licensing, dues, MLS fees, Errors and Omissions insurance, etc. I will not tolerate an unlicensed/uninsured Wholesaler to undercut me and will report them to the licensing board immediately.

@Judy Parker a wholesaler undercuting you? sounds like you are just afraid of competition :). look around at all that real estate. plenty of business for the both of us. errors and omissions insurance. interesting, i never knew a realtor can get that.  yes some of those disclosures would need to be signed by a wholesaler also. not all those since they don't apply. especially if a commercial property is involved. very little disclosure in commerical properties is required. the brokers that i know are happy to be on my list. (by the way, if i was brokering without a license, brokers would not want anything to do with me. they would be in trouble also even though they are not the ones brokering without a license). to a broker that is a lead that just feel in their inbox. every now and then i will have a broker txt or email me saying that they have someone, that wants to buy my property.

@Ken Graham or anyone else. so this statement from the ohio REC that i've read and heard about.  does anyone know if it actually came from the commission? maybe someone made that up.  

as far as licenses. who i think should be licensed is all the gurus out there that are charging $999 for some videos and forms that aren't right.  but this paragraph is me ranting my opinion.

im not argumentative with everyone on here.

@Peter Sanchez. me changing my pic? what are you talking about?  and you must of not noticed that that guy spells his name differently then me.  stop defaming me! I googled "Peter Sanchez attorney" apparently you practice law in the Philippines. where did you get your law degree out of a cracker jacks box? that is what it seems like. with the crazy legal advise you posted on here. maybe i should file a complain against you for giving terrible legal advise. We can deffer that to the DC Bar.

@Brandt Heflin, sure i can explain wholesaling. there is a lot of stuff about that on here. you wholesale by getting a seller to sign an purcahse agreement or an option to purchase.  make sure you ahve the right to assign your rights as teh buyer to someone else.  then as soon as you have something under contract, you go and market the property just like any other owner. when you find someone that wants the property, you sell the property to them by having them sign an assignment contract.  first you build a buyers list of 100 investors that want to buy properties where you want to buy (you don't have to be buying in cali. you can buy anywhere in the country).  then i would send out one of those "we buy houses" postcards to find people that want to sell you properties.  there is a lot of stuff on theinternet about wholesaling. call the dept of real estate and/or an attorney to make sure you don't get in trouble for broekring without a license.

 a commercial property can be sold in a few weeks. really it all depends on the price and how good the person that is selling the property is. with that property it took two years mostly because it just takes time for the foreclosure proccess to go through. in commercial properties you do less deals but u make more per deal. that is in general. it depends on what someone is doing.  if im wholesaling a commercial properrty, im looking to make way more then a couple grand. 

it would be pretty hard to buy a property for 500k and then sell it for 1.5 million. posssible depending on what you do with it but very difficult. 

you wholesale. or you borrow money(use other peoples money like u said). the main thing is action. like that property that u mentioneded. is it listed? if it is call the broker and make an offer. most brokers are happy to show you the inside.  it sounds like so far you are looking at the land itself not the improvement.  at first you will be just driving arnd looking at properties. at least that is what i did.  i wasnt making offers since i had no clue how much to pay and i didnt know how i would find the money to buy it.  after a while u will figure out what a good price is and therefore, will be able to make an offeer.  one of the first property that i remember that i wanted to buy,  i wrote a letter to the owner. i knew it was going through foreclosure.  luckly the guy let his broker know and his broker called me. i  analized the property and his broker gave me a purchase agreement to sign. it was never accepted but oh well.  by the way that was in the spring of 2013 and the property was recently sold  by the lender that took it back earlier this year.  it took two years! that was a commercial property. a few apt upstairs and some retail space on the first floor.

you will definatly get people discriminating against u because of your age.  you will find people that will work with u. 

of course u can anylize it. i would start by calling the listing broker and telling him that you want to buy it. most brokers will show you the proterty no matter who u are or wheather u are qualified to buy. they will kind of walk you through the rest of the process. im assuming u want to buy it for u not for someone else. if thats true no need for a brokers license. the whole being 17 years old is tricky. i recently heard that there was a 14 year old girl or something that was investing. it sometimes takes years to sell a commercial property. so u might get a call in a year when u are 18 asking if u still want it. i started investin with no job no money, no nothing. i was 29 (but looked like i was 12). also join a REIA group (Real Estate Investor Association). thats what i did, i called on properties and said i would like to buy them. also perhaps you can invest in both residential and commercial properties. residential is way more simpler, cheaper, and quicker. its like selling a ford pickup as opposed to a semi truck.