All Forum Posts by: Felix Goldstein

@Jay Hinrichs you say "when a regulator wants to tag you with their version of whats lawful or not... its not up to them to prove the case.. you either acquiesce or you take the case to the law judge."  i'm pretty sure we discussed this before but i'm not sure. don't want to look back at all the stuff in this discussion.  anyways, it sounds like you are saying that a regulator can just arbitrarily say that someone violated a statute with no proof and its up to me to prove my innocence.  um i would disagree, they would need proof, and a good solid argument explaining how i broke the statute.  as far as your situation, who knows, there must of been some grey area where the judge had discretion and unfortunately he/she ruled against you. (even though sometimes i dought this myself LOL) but for the most part the goobers follow the rules. they don't just arbitrarily come up with some crazy argument that doesn't make sense and that's that.

@Richard C., @Bill Gulley. No Bill don't know that guy. just because he has the same name doesn't mean its me. funny story though.

@Richard C. as far as bank robbery i don't know i'm not the dept of real estate. and don't care. i'm not about to get a license to broker. i don't want to broker. 

...it seems impossible to start doing that without either having 2 years of living expenses saved up or getting a salary at least when one is starting out.

this seems to be a good place to ask this.  don't commercial brokers get salary plus commission? as opposed to their residential counterparts. that's what i heard.  It takes FOOORRRREEEVVVER to get a commercial deal to go through. its like selling semis versus selling a ford F-150.

@Brandt Heflin, take a look at this forum ==>

https://www.biggerpockets.com/forums/32/topics/189234-becoming-commercial-real-estate-agent-associate. i'm not sure that this is the route you want to go since it sounds like you don't want to get involved with the brokerage side, but i thought this might be helpful for you.

@Richard C. there is a reason why attorneys will quote cases from courts in another state. but then again Liers (i mean Lawyers) say all sorts of non sense.  i can think of plenty of reasons why someone wholesales instead of getting a license.  i read the requirements to get a license in ohio a few years ago so i don't 100% remember them but i believe it says that only certain felonies would prevent someone from getting a license.  so if some guy that burglarizes houses, then the state would probably not give them a license.  and rightly so. if someone got caught with some cocaine well they might allow that person to get a license.  another reason is becuase the guy wouldn't want to be stuck between a buyer and seller.  an agent basically has no control. a wholesaler has a lot of control.

@Brian Gibbons,  with the way things are going in this country, pretty soon one will need a permit get a license.  what next one would need a license to breath? Well with all the global warming the government needs to control peoples breathing. that's what's causing the earth's temperature to rise. we can't have all these people breathing so much.

@Kiffin Daniels,thanks :) it annoys me and interferes with my business  with all the misinformation out there about wholesaling. that's why i decided to start this thread.  Also there are people on here trying to figure out the truth and all the lies about wholesaling is turning them off to investing.

@Ken Graham, yes i doubt the commissions opion is legally binding. they could start lying and playnig games. but for the most part they don't.  what he told me is that 1. i can assign a purchase contract. 2. there is a statute that says wholesaling is illegal. however when i asked him to send me the statute he sent me the statute that says selling property for another requires a license. haveing come across any ohio cases, but i haven't looked for them. im sure there is one out there. the interesting thing is in the case that you found, is the guy still got in trouble but not becuase he was brokering without a license. he was telling people that he was a broker but he wasn't. its strange that he would lie like that. if you ask google you can probably find some ohio cases.

@Brittaney Woods, just saw that wrote "Define "everyone"... are these real estate professionals or just random people?"   no one addressed that. i'm confused by your question. explain

finding out who the owner is is easy. look on the county site to see where the taxes are sent. taht is a good address to send a letter saying "i would like to buy your property.". also the recorders website will have a copy of the deed and mortgages, if any, on the property.

i have a question for you taht i have been wondering. maybe the other people that will respond can explain. what is the difference between flipping and wholesaling? sounds like the same thing. in flipping you actually want to fork over the money and hold the title but in wholesaling you would not hold the title? what do you mean by flipping? as far as what areas to stay away from i have no idea. never been to texas.

@Damon Armstrong, so by now you probably started college.  I read Rich Dad Poor Dad two months after starting college.  I wanted to quit after i read it.  Too bad i listened to my parents and went to college because they wanted me to.  Its very very expensive.plus the only useful classes that i took were a few semesters of accounting and a few semesters of law.  Canadian Literature is not helping me at all. never did.  yes since i went to a liberal arts university, i had to take a whole bunch of crazy useless classes like Canadian Literature.  I ended up majoring in Business management.  The business classes i thought were common sense stuff no need to pay thousands of dollars for a class.  have you read Kiyasaki's other books? they are great. anyways, thats my two cents on college education.  I agree with the other person on here who said that college is good for someone that absolutely needs it to get into a field (Doctors, engineers, biologists, etc). other then that i would reccommend don't go.  Going to a community college and then transfering the classes, is a huge money saver. the end peice of paper will ahve the universities name not the community college's name.

As far as getting your RE license, i would say that is helpful but not neccessary. i would say wholesale properties.  There are toooo many regulations that brokers have to follow.  The other reason that i would say don't bother getting your license is becuase it sounds like you want to be an investor not a broker. no need for any education to invest in RE (i mean degrees that are needed).  you need knowledge, but that is received by getting out there and investing. that's my two cents on getting a license.  it sounds like you have your mind made up about that too.

I was wondering if commercial real estate brokers get a salary and commission or only commission. it seems imposible to survive on only commission in commercial real estate. perhaps some of the other people on here can enlighten me.

... they have a person that does aquisitions (buys properties) for them and they have a person that does dispositions (sells properties) for them. since you want your job to be related to real estate, i would ask the person that answers the phone that you want to talk to the aquisitions guy/girl and dispositions guy/girl.  you can actually find their names on the companies sites. along with their email address. so you can just send them an email. not sure if that is the best person for you to talk to but i would start with them. maybe there is someone better not sure.