All Forum Posts by: Will S.

What are the requirements for a general contractors license in CA?

You need to find out if "Net Listings" listing are legal in your state.  I don't know of any state where they are.

If you practice wholesaling like 95 percent of people on BP and not actually buying the property you will be practicing real estate without a licenses but that doesn't matter because you won't get caught and the government doesn't have the resources to go after you. You simply sign a contract that says you are buying the property and someone else can assume the contract. Then convince yourself you now have an ownership interest in the property and that this protects you legally. If a realtor does this it is called a "net listing" an it is illegal, they would be fined, loose their license, and could go to jail. But, you are a wholesaler so the rules don' t apply to you! You don't have to have any ethics! You don't need earnest money. The law doesn't apply to you! You are so much smarter than the dummies who have gotten their brokers license and actually studied real estate law. 

The truth is what people are doing is mostly illegal and immoral and unethical  but it really doesn't matter. You will get away with it. States don't put any effort into enforcing there real estate laws. 

If you practice wholesaling like 95 percent of people on BP and not actually buying the property you will be practicing real estate without a licenses but that doesn't matter because you won't get caught and the government doesn't have the resources to go after you. You simply sign a contract that says you are buying the property and someone else can assume the contract.  Then convince yourself you now have an ownership interest in the property and that this protects you legally. If a realtor does this it is called a "net listing" an it is illegal, they would be fined, loose their license, and could go to jail. But, you are a wholesaler so the rules don' t apply to you!  You don't have to have any ethics! You don't need earnest money. The law doesn't apply to you! You are so much smarter than the dummies who have gotten their brokers license and actually studied real estate law. Good luck!

If you practice wholesaling like 99 percent of people on BP and not actually buying the property you will be practicing real estate without a licenses but that doesn't matter because you won't get caught and the government doesn't have the recourses to go after you.  You simply sign a contract that says you are buying the property and someone else can assume the contract and convince yourself you now have an ownership interest in the property and that this protects you legally.  If a realtor does this it is called a "net listing" an it is illegal, they would be fine, loose their license, and could go to jail.  But, you are a wholesaler so the rules don' t apply to you.  You don't have to have any ethics, you don't need earnest money, and the law doesn't apply to you.  You are so much smarter than the dummies who have gotten their brokers license and actually studied real estate law.  Good luck! 

I have been a real estate broker for 18 years and I assure you that even "assigning" to "give yourself an ownership interest" is not going to protect you as a wholesaler. You are practicing real estate without a license. A person of fair intelligence can pass most state salesperson exams by studying for 3 weeks. Problem is most wholesalers are afraid they aren't smart enough to pass and want to do shady things which they would loose their license for anyway so they don't bother.

Not not now

I have been a real estate broker for 18 years and I assure you that even "assigning" to "give yourself an ownership interest" is now going to protect you as a wholesaler.  You are practicing real estate without a license.  A person of fair intelligence can pass most state salesperson exams by studying for 3 weeks.  Problem is most wholesalers are afraid they aren't smart enough to pass and want to do shady things which they would loose their license for anyway so they don't bother.   

Do wholesalers care about breaking the law and practicing real estate without a license?

And I see wholesalers here doing many thing that if they did that with a license they would loose their license.

Are their any wholesalers on BP concerned about practicing real estate without a license?