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Updated about 2 years ago on . Most recent reply

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How to buy wholesale as a realtor in NJ?

Posted

I wonder if there are any realtors from NJ that are doing wholesale? I am very ambitious, and have been learning real estate investment and I am really eager to get this going. One thing that I just dont seem to get a clear answer on is, how do you go after a wholesale property for an investor without compromising your real estate license?   

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John Slater
  • Real Estate Coach
  • Riverside County, CA
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John Slater
  • Real Estate Coach
  • Riverside County, CA
Replied

Hi. Not certain I understood your question correctly.  "how do you go after a wholesale property for an investor without compromising your real estate license?"

The biggest reason licensed investors get in to trouble from my experience is "disclosure"... if you disclose then 99% of the time there shouldn't be an issue, if you don't disclose, then it may bite you in the ***.  

I've wholesaled as an agent, got the property under contract, was going to flip it but changed my mind and wholesaled it to a buyer.  Both parties knew I was licensed but acting for my corp and not acting as an agent.  

I've also helped a buyer "buy" from a wholesaler, again both parties knew I was licensed but helping to facilitate the deal, of which the buyer paid me a finders fee, but paid to my corp.

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