All Forum Posts by: Tim Bishop

I think you handled this right.

If it ever happens to me I'm going to ask the officers if they have a house to sell haha!!

Wholesaling is all about marketing and negotiating.  Outsource your marketing and practice negotiating on the leads that come and worry about all that other stuff later.

#Humblebrag

It's hard to argue that location isn't as important as we all think it is.  Very good attempt though.  I would agree that there are good deals to be made even in overlooked locations.

@Joseph Theriault 

From what I understand most states do not specifically prohibit a realtor from acting as a principal in the transaction and then collecting a wholesale fee in one of the usual methods.  Some feel that a judge will look at these transactions as net listing or a loophole allowing you to have the same outcome as a net listing.  This will vary state to state and vary based on the discretion of any legal expert who considers it.

I would recommend actually closing on the property before sale even if the laws in your state don't prohibit you from assigning as a realtor.  Double closing or simultaneous closing at a minimum... or better yet use transactional hard money loans and close with your buyer the next day.  Even better would be to build up your reserves and hard money relationships and sell via mls after closing.  Full disclosure to the original seller is also very good practice.

http://www.aarp.org/benefits-discounts/

Just thought this might be helpful.

My wife and I just did our taxes... We donated a lot last year to a good cause.  We don't miss the money... If you are dead broke with no wiggle room then you should take care of yourself first.  If that's not the case I don't think you can go wrong by supporting something you care about and I think the sooner the better. 

Get fat and grow a beard!

If you have good credit you could do an unsecured signature loan.  I grabbed one for 20k for a renovation project with very little trouble from a big national bank.

Welcome to the site!

@Ryan Dossey 

Nothing wrong with making a judgement call, you had the good sense to make sure it was a dry as possible.