All Forum Posts by: Thomas Homan

FREC is pretty clear on if you market, show or act in any way to sell a house to profit you are acting as realtor and therefore must be licensed. Now myself back in day and many other Wholesalers get the property under contract with a deposit. I used to say I have equitable interest and the right to market and sell that property. That would be hard to defend, you are not on title and do not own the property. I even went as far as to build into my contract that the seller grants me the right to market it. Again problems. It's black and white not grey. I say this because I did have complaint for marketing a property I didn't own and not being licensed. Nothing came about because I was in a L/O and had 5k down. I got lucky!

Michael Quarles your a rock star! 119 in your first year!

I started n the business flipping and wholesaling. Worked with homevestors turned over 40 houses in 08 and did a lot of short sale flips. I am no stranger to working the trenches. I had a mitigation company negotiating shorts, however when the banks stop paying a third party facilitator fee and we closed up our title company my only choice was to get a license to grab my 3 or 6% commish.

My average sale here is 120 and I am 100% commish. My leads to my team are 60 me 40 them and 50/50 for anything they bring in while I am mentoring them for the first year.

I have access to transactional funds still and built back up my nest egg in the last 2 years as a realtor. Now I would love to get back into wholesaling. You are all right about wholesaling I much rather hit 25% then my 3. I made some of best money wholesaling. The last wholesale deal I did made 19k. so I still dabble a bit with reservations and only if I can build my commission into the deal paid on the HUD. If the deal has a good enough spread I will just take it down with my cash, freshen it up and stick signs ( being my house can do so legally) I welcome any insight on how I could still wholesale without putting my license in jeopardy????

I still have a huge cash buyer list as well as 2 investors that will buy all the 3-2-2 I bring to them with 5k assignment fee. They rehab it and then I list it. The other little 2 bed houses will More then likely be sold after I Group text out the property website. Its the ones that don't sell to my preferred cash list. Being licensed now it a bit difficult to stick signs and market a property without having the right to do so.

I have no problem getting a 75k property under contract in my LLC and wholesaling, where I am gun shy is if that seller sees that I made a 20% return after I beat them up on price to create a spread for myself and as an agent if they put a complaint in I am basically equity stripping and marketing a property I do not own or have a listing agreement on. *** Yes I got away with it back in the day by putting a deposit down and calling it equable interest. However very grey, FREC is pretty clear anyone marketing, showing real estate to make money must be licensed.

I have so many buyer leads its easy to keep my pipe full however very time consuming and that is what i am trying to get back in my life. In the last 2 years I had about 40 listings myself, which most were sold in less then a month. Hard in my market to keep the pipe filled and when I figure the system to keep 30 listings in my monthly pipe at one time, I will be turning at 30k a month on listing sales, not including pushing all the buyer calls to my team.

I would welcome any thoughts on how to wholesale as a licensee? my mentality now is that of a realtor.

I will continue to search out to automate my listing campaign, once I do be on the look out for a new Info course! LOL get the techees on it now.

Yes I set my goals high, still achievable with help from my team.

I think I should let you know, I am not new to marketing or real estate. Have many years of both. I have a constant 10 to 15 transactions in my pipe at one time and close about 10 a month now. I have a short sale division as well which is all a bonus whenever they close, working 13 now.

I have 2 new buyers agents I am mentoring who write a few a month for me.

I pull Les pends and door knock, very good returns. 50% works very good. You have to know your business though.

I have a great listing presentation and superb marketing of my listings so its an easy sell. I only need to get in front of them. I am in the process of an EDDM program to blanket my farm area. This should bring in some new listings, along with calling on and door knocking expired listings and every FSBO sign I see I stop at and drop a door hanger, that is if no one answers.

What I am looking for is to automate my mailers, to include when a house just lists or sells, mailers are sent saying their house is next. Just not enough time do listing appointments, door knocking, mailings, calls.

I want to try automate so I don't have to hire help.

welcome any advice.

Good day everyone, I am looking to pull in 30 listings in the next 30days and welcome any marketing advice, programs, courses, education and ideas.