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All Forum Posts by: John B.

John B. has started 16 posts and replied 60 times.

Post: Realtors tell wholesalers to get a license?

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45
Quote from @Lauren Robins:

You're absolutely right that a real estate license is state-specific, and if a wholesaler is working across multiple states, the necessity of getting a license becomes a bit more complicated.

A real estate license is required to perform certain activities like representing a buyer or seller in a transaction, negotiating contracts, or receiving compensation tied to a transaction (commissions, for example). The rules surrounding wholesaling vary by state, and in some states, a wholesaler might not need a real estate license to assign contracts or find buyers for distressed properties. However, in others, they might need a license if they're performing activities that are considered to fall under real estate brokerage.

If a wholesaler is working in multiple states, the license would only be valid in the state in which it was obtained. This means that, if the wholesaler operates in different states, they may need to get licensed in each state where they conduct business, depending on the specific laws and regulations governing wholesaling in those states.

In a virtual wholesaling scenario where the wholesaler never meets buyers or sellers in person but is still facilitating transactions across state lines, the need for a license becomes more nuanced. Some states have reciprocity agreements, allowing a license from one state to be used in another, but this is not universal. Also, even when a wholesaler is not directly involved in a traditional real estate agent role, they still must ensure they are following the letter of the law in each state they are active in.

To answer the question about whether getting licensed would defeat the purpose: In some cases, it might seem counterproductive because obtaining multiple licenses can be time-consuming and costly. However, it ensures that the wholesaler is compliant with state laws, protecting them from legal risks. In some states, working without a license may expose a wholesaler to penalties, fines, or even lawsuits from buyers or sellers who feel they were misrepresented or harmed during the transaction.


I see, im a FL agent and I have a different cold calling business as well. Thanks for the info 

Post: Realtors tell wholesalers to get a license?

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45

Im seeing posts where agents tell wholesalers "they should get a license". If the wholesaler is working in more than just their home state (virtually), wouldn't that defeat the purpose since a license is only state specific? 

Post: DFW Investor meetups

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45

Im looking for some local investor meet ups/real estate exchange in the Fort Worth area. I dont want to be sold anything or have to sit in a class. Im looking to find a coffee shop etc with other investors where we talk freely for free for the benefit of networking etc. Please guide me in the right direction if you know of anything.

Post: Ryan Pineda Cashflow 2.0 Wholesaling

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45

Heck no, you dont need a course or a guru. All the stuff is free online

Post: What makes an investor not wholesale a deal themselves?

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45

Why would a struggling investor not use propstream or one of the sites where you can post an all cash deal and instead use a wholesaler they know is making an assignment fee? 

Post: Would you even consider seller financing?

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45

Hi, I own a townhouse in FL that I bought 10 years ago for 100k. Its worth about 220k now and cash flows around 1k a month after HOA etc. I owe 58k left in mortgage. If i did seller financing to another landlord, they may have an issue renting it due to 1st year HOA rules. That may prevent them from buying. Should I even entertain looking into this more?

Post: Aspiring investors with 200k+ income looking for guidance

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45

Savannah, I invested in Ohio. I found a little team there I was comfortable with. 

Post: Is 1031 Exchange a cheat code or just a better way to sell bad properties?

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45

Watch Any youtube video from Ben Mallah. Hes the king of using 1031 to scale from nothing

Post: $400-$500k Small Multi-Family Property Locations?

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45

I would say try Cincinnati, contact Joe Cornwell from Ownerland realty. 

Post: Heloc for 2023 investments, what would you recommend?

John B.Posted
  • Investor
  • Keller, TX
  • Posts 61
  • Votes 45
Quote from @Joe Funari:

@John B. If your exit strategy is long term rental consider the BRRRR strategy and get a hard money loan and use the HELOC for repairs and or conventional closing costs once your rehab is complete.

Im even thinking of doing that in the DFW area at some point. The syndication im involved in is there as well.