These ignorant arguments come up all the time it seems.
We get "jailhouse" lawyers on here, (there is another term, but this is rated "G") claiming they have "legal" experience or knowledge. Frankly, I don't know how our attorney members here can put up with such ignorance, I guess they get use to it and ignore it.
Yes, we have another wave of double newbies, new to BP and new to real estate.
What you DO and how you DO IT defines you in many ways. Professional ethics is based on accepted conduct and practices established within an industry or profession to ensure the public as well as others in dealing in that area are treated morally, respectfully, fairly and equitably, in carrying out professional activities.
If you deal in land, you are in the real estate industry! Wholesaling IS NOT an industry.
Newbies have no clue as to what is ethical, they don't understand the industry and therefore have no clue as to what acceptable behavior might be. They may have moral concerns, but those are not so much "professional ethics". You may have personal values that guide you, but how you "feel" doesn't establish professional ethics, your values may agree or disagree with what is professionally acceptable.
Someone made the ridiculous (and egotistical) statement that he sounded like a lawyer, no sir you certainly do not! I can tell you what I can sound like, a regulator, one who administered regulatory law, found facts, findings, applied law and regulations to activities and dealt with violations and violators. So, I can't sound like a lawyer because I'm not one!
Where wholesalers miss the obvious, s in your reading of regulatory law. First, you have to understand the intent of the law before you can apply it. Sometimes that can be more difficult to understand, especially when you have some agenda you're trying to accomplish and seeking ways around restrictions.
Like the sign at the swimming pool, a list of "do not's" it says no running! So, the little kids try to walk as fast as they can and say they weren't running. You're moving your body over a wet surface at an unsafe pace!
Look to "LAWS OF AGENCY" not real estate agency laws, but laws that place a person in a position as acting as an agent for a principle, in wholesaling, not taking title to a property, you can be seen as a "Special Agent".
Regulators will examine a matter with a top down approach, looking at the big picture and bore down to a specific activity. It's what you do and how you do it. What you do in wholesaling without taking title is facilitating a sale to a third party by assigning a contract. Forget about what kind of contract, understand first that you use paperwork to facilitate a sale to a third party! That in its self is the activity accomplished.
How you did it, how you got to the store to rob it is probably irrelevant to the commission of the crime. While you claim you have a purchase contract, lets look deeper at your being a bonafide principle ? Did you have the intent to buy? Did you have the ability to buy? Answer no to either one, you are not a bonafide buyer!
Are you using that contract to act as a straw man? Then you used an invalid contract, one made which was not made in good faith because you knew you were not qualified to buy, to place yourself in a position to facilitate a sale to someone else! Therefore, how you did it was to use a bogus contract to gain the same position of an agent to facilitate a sale!
Why you're seen as an unlicensed agent dealing in real estate.
I suggest you learn real estate, not what some crap for brains dreams up to circumvent laws telling you can make big money.....while you feed deal to them or buy their books or go to their seminars. Use your head! :)
