All Forum Posts by: Kurt Charles

@Jerryll Noorden . Awesome website bro. Congrats on your well learned lessons and successes.

I think the best and fastest way to learn the REI industry is exactly what you are doing, volunteering to work with those that are already savvy investors.

Good luck in your RE endeavors and Happy New Year!

@Sekelle O. I think the main issue is that many people are wholesaling without an RE license everyday, and many cannot fulfill their promise to the seller, leaving them stranded and wasting their time, etc when they could have found true buyers elsewhere. This is a big problem should an unlicensed broker be reported to law makers.

Should one ever get litigated, can they prove in a court of law that they had 'real true intent' or 'financial ability' to purchase the property in the first place, may be an issue. This is where I believe making a reasonable EMD comes into play, an EMD that can offset any potential litigation for practicing illegal wholesaling. An EMD that is agreed upon by both seller and unlicensed wholesaler. But in any case, a judge may still want proof of ability to have been able to purchase the property. I am not a lawyer and have no real life cases as an example. These are my 'opinions' from my own research.

It's a fine line and everyone needs to know what they are doing and how they are doing it, because there are too  many different opinions, which leaves one to do their own thorough research and come to conclusions that make sense to them and that they feel comfortable with. All risk is on each individual.

Personally, I like to do things by the law, that is the only way to ever truly get wealthy in the USA, in my opinion without repercussions. Besides, by getting the RE license, I will get fully educated on all laws regarding RE in FL and I will have WAY more options in every direction to MAKE MORE MONEY than just being an unlicensed wholesaler.

Thanks for your contributions.

@Bill Gulley . Thanks a lot for such a plethora of good information.

hmmm @Ned Carey . Didn't really understand 'net listing' before now, I'm just learning. After reviewing its legal definition, it does now make wholesaling seem 'sketchy' licensed or not. I understand what you are saying.

Thanks for the insight. I guess that truly is a fine line and perceived in different ways by many.

@Account Closed That's great. I did sign up for one and wondered if they would send a reminder email because I forgot the date. It may be this exact one. Thanks for sending the link again, I will definitely be attending.

@Ned Carey . Wholesaling is legal as far as I know as long as it follows state laws. The original post was disputing wholesaling without an RE license, not wholesaling itself.

Again, great insights and real life examples. Thanks @John Thedford and @Jay Hinrichs. 

I really am starting to love BP, lol. 

For me personally, the main thing that got me serious about the RE license, is the ability as John says, to list and advertise properties especially on my website with no legal backlash. Either way, I like to do things the right way and in a big way that benefits me.

@Jay Hinrichs . I guess some unlicensed people are making false claims about how being an RE agent will 'hinder' investing because you have to disclose to everyone you are an agent. 

But, it seems every agent/investor is saying how great it all works out for them, so I'll go with the getting the RE license route and forget the backdoor mentality, which I am in the process of acquiring.

Thanks for all the great insights.

Thanks @Account Closed. I am in the process of also getting the FL RE license to open up more options for me. Appreciate the insights.