Done anyone have wholesale experience in Florida?

Question

John Thedford · Answer

So there you have it! Ignore 475.43. Advertise the properties. The law is clear regardless whether others like it or not. Here is where you can go to look up and see if someone has been turned in for unlicensed activity:

https://www.myfloridalicense.com/sto/unlicensedact...

When you take advice from scammers to ignore laws best of luck. As I said, brokering a contract IS legal. Start advertising the properties and that is a violation of law. The frauds that believe they are entitled to broker real estate without a license might not be the best people to take advice from. You can always call DBPR. The statute is worded as it is to stop these frauds from victimizing the public. I talked to DBPR today regarding a complaint I filed. The person I filed on is violating FL law even though they have a contract because they are advertising the property NOT the contract. I like the part of the statute that says it will be PRESUMED that such party was acting or attempting to act as a real estate broker and the burden of proof shall be upon him or her to show they were not acting or attempting to act as a broker. BTW the state said they can issue fines of $5000 for brokering without a license and that does not include criminal charges. Brokering without a license is a 3rd degree felony. 475.42 Violations and penalties.—

(1) VIOLATIONS.—

(a) A person may not operate as a broker or sales associate without being the holder of a valid and current active license therefor. Any person who violates this paragraph commits a felony of the third degree, punishable as provided in s. 775.082 or s. 775.083, or, if a corporation, as provided in s. 775.083.

For those not capable of looking up the statute here is it:

The 2016 Florida Statutes

Title XXXIIREGULATION OF PROFESSIONS AND OCCUPATIONSChapter 475 REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERSView Entire Chapter    475.43 Presumptions.—In all criminal cases, contempt cases, and other cases filed pursuant to this chapter, if a party has sold, leased, or let real estate, the title to which was not in the party when it was offered for sale, lease, or letting, or such party has maintained an office bearing signs that real estate is for sale, lease, or rental thereat, or has advertised real estate for sale, lease, or rental, generally, or describing property, the title to which was not in such party at the time, it shall be a presumption that such party was acting or attempting to act as a real estate broker, and the burden of proof shall be upon him or her to show that he or she was not acting or attempting to act as a broker or sales associate. All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.

Title XXXIIREGULATION OF PROFESSIONS AND OCCUPATIONSChapter 475 REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERSView Entire Chapter

Title XXXIIREGULATION OF PROFESSIONS AND OCCUPATIONS

Chapter 475 REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERS

View Entire Chapter

475.43 Presumptions.—In all criminal cases, contempt cases, and other cases filed pursuant to this chapter, if a party has sold, leased, or let real estate, the title to which was not in the party when it was offered for sale, lease, or letting, or such party has maintained an office bearing signs that real estate is for sale, lease, or rental thereat, or has advertised real estate for sale, lease, or rental, generally, or describing property, the title to which was not in such party at the time, it shall be a presumption that such party was acting or attempting to act as a real estate broker, and the burden of proof shall be upon him or her to show that he or she was not acting or attempting to act as a broker or sales associate. All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.

John Thedford · Answer

Tough route to go. See 475.43.Brokering real estate without a license is a 3rd degree felony. You will find some clueless cheerleaders pushing you forward but they are just that: clueless.

I talked to DBPR today. They can issue a fine of $5000 for brokering without a license. Along with that they can refer it to the state attorney for prosecution.

Can you broker a contract? Absolutely. However, if you advertise the house you are NOT brokering a contract you are brokering real estate. If you show the house you are not brokering a contract you are brokering real estate. The state tightened up the regulations just for the frauds that want to play games with peoples lives and probably their most valuable possession.

Just curious: would you dare tell a seller you don't have money to close or would you deceive them? You will find many frauds on BP that promote lies and deception. IMO that is poor business model.

Daniel Dempsey · Answer

its all about how you have your team together and how to act in each state thank God I have a good team (family, friends and investors) have a good plan means NO laws broken ;-) again brokers want all the meat this site is bias when it comes to wholesaling. Have a good legal team and know your business people trust me it works just look at this site the hate people have for us

Daniel Dempsey · Answer

My point ;-) Account Closed send me a private message I can help you out, this network hates that we wholesale as I said they want all the meat on the bone but educate yourself call me and my Florida team will help you out as best she can she is a Lawyer I'll tell you all about it! JUST PUSH THESE OTHERS OUT OF YOUR HEAD THEY THIRSTY  LOLLLLLLLLLLLLLL Like I said send me a private message so we can help you out.

Daniel Dempsey · Answer

I have done deals in Florida again as long as you have everything in place you CAN do a wholesale deal in Florida please do not listen to most of the people on this site as Bigger pockets, Brokers and some small RE agents try to scare others away form conducting such business John Thedford is trying to scare you away LOLLLL I did it with a team this is why I say read and ask questions but DO NOT listen to the bull brokers try to scare you with as brokers do not want us to get money LOL most of them are jokes... as I said set your team up your NOT acting as a broker you will have all that well in advance again bigger pockets and other clowns will try to make you back off as they want all the meat on the bone LOL.... We are currently doing another deal in Florida ;-) good luck and NEVER GIVE IN, PUSH BACK IN THIS BUSINESS!!!

Daniel Dempsey · Answer

No you do not need any cash for a deal all you need is an assignment contract and a day to TRY to close on the property if you do not deliver on the date on the contract you are free. I strongly recommend that you learn the ins and outs of a wholesale as that can put in a jam if you do not have the right documents in hand. I can say you want to have you investors in place prior to obtaining a seller. You can make money off of a wholesale but if the wrong contract is provided to the seller and you say you will pay them any type of money you are done. In my deals we do not offer funds for a wholesale just dates again if you do not know about wholesale's its best to read as much as you can. Good luck