All Forum Posts by: Joshua Martin
Joshua Martin has started 40 posts and replied 381 times.
Post: New to Wholesaling ... Please Help

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
To some degree I'm encountering a similar situation: having a real estate license and finding a broker that will permit me to wholesale real estate. I'm also just starting to actively market to find good deals.
I guess the brief summary would be something like this:
1. Talk to your broker (if you have one), because you might need to switch.
2. Talk to an attorney and / or title company. They will give you good guidance as to how you can operate with this hat on.
3. Decide how you are going to find off market properties. They are just that, off market, so you can't really look on the MLS.
4. Start mailing or driving for dollars or posting bandit signs or whatever you're going to do.
5. Find a deal. At this point that request for mentorship will be meaningful when you engage mutual self-interest. As someone to help walk you through the process - contract, contingencies, title work, etc. - and split the deal. As they are fond of saying on the podcast, part of a deal is better than all of no deal.
If you haven't already, the Ultimate Beginner's Guide Real Estate Wholesaling gives sort of the blueprint you're asking for.
Best of luck,
JTM
Post: New to RE: should I get a broker license?

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
Hey @Chabu Nsokoshi!
Welcome to BP! Just keep diving in.
As far as your question goes, I suppose it depends what you want to do. If you want to wholesale specifically, first make sure assignments are legal in your state (I've heard they aren't in some, I think you're fine in IL but I can't guarantee it), and then work on finding deals. The license seems an unnecessary piece if this is your specific goal.
This is coming from someone who doesn't have a lot of experience but is actively trying to find deals and wholesale them, but someone who also took the time to get a license. At the current moment it's actually an obstacle, as I'm having trouble finding a broker who will let me hang my license there and not want to split wholesale assignments fees 50/50 or 60/40 because they consider it real estate brokerage.
So, at the moment I'm a little irritated I have it because it's posing this additional challenge to wholesaling (because I want to do everything above board and have my broker know what I'm doing), but I think down the road, like everyone who has it says, they can't imagine not having it. That will come, at the moment it is an unnecessary challenge.
If it's the education you think you might obtain from getting your license, I would say that it simply isn't necessary. You can get all of that information studying on your own from books or here on BP.
Best of luck, and go find that deal!
JTM
Post: How to shut up the Wholesale bashers

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
Post: Wholesale contingencies

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
Post: LOOKING FOR TOOLS TO HELP ME FIND PREFORECLOSED PROPERTIES.

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
Good thread. And thanks for the input everyone. Working the daily reporter on these is one of my next tasks in Milwaukee.
Post: I'm going for it!!!

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
Hey Jesse! Welcome to BP? I'm just wondering where you were looking to buy in the area? And what your price point is? As others have commented, there's great variance in the area in the cost of multi-families. Maybe a good place to start for getting an idea (and understand that you could offer whatever you wanted on these properties), is Milwaukeemultifamily.com. I just like to cruise it to see what's out there. I think he just compiles the listings from all other sources, so obviously won't have off market properties. Best of luck.
JTM
Post: How to intentionally rent to high risk tenants?

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
Post: Real Estate Attorney.

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
Thanks again. That's actually what I did and they were very helpful. Nice group over there.
Post: Real Estate Attorney.

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193
Hey Gang,
Just looking for any recommendations for a real estate attorney here in MKE. I'm trying to navigate this gray area of having a license and wholesaling properties. Hoping this route works out. So specifically if anyone knows an attorney who has worked with wholesalers it would be greatly appreciated.
Thanks in advance.
JTM
Post: Newbie in Wisconsin eager to get started

- Investor
- Milwaukee, WI
- Posts 389
- Votes 193