Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago,

User Stats

56
Posts
12
Votes
David Jonsson
  • Investor
  • Madison, WI
12
Votes |
56
Posts

unlicensed activity

David Jonsson
  • Investor
  • Madison, WI
Posted

I got a letter from Wisconsin Department of Professional Services Division of Legal Services & Compliance. They received a complaint from someone on my direct mail list of probate properties. My marketing letter said, "My partner and I would like to BUY your house, Please call me.."

They demanded I "provide detailed written response detailing exactly what it is that you are doing regarding purchasing a property..."

They want to know "Who is your partner?"

They are concerned I am violating Wis. Stat. 440.03(4) which is about being unlicensed broker.

Here was my response:

"I purchased list from public data.

I am looking for houses with equity that I can buy.

I buy direct mail lists.

Im not targeting her specifically.

Im a real estate investor.

The letter says Dear Homeowner.

I dont know her first name.

I am not soliciting or selling anything.

I am wanting to buy.

here is link to my Articles of Incorporation for Rockstar Realty LLC

https://www.wdfi.org/apps/CorpSearch/Details.aspx?entityID=R059827&hash=951544703&searchFunctionID=98356fda-943f-4369-871d-87741612deef&type=Simple&q=rockstar+realty+llc

I dont really have a partner.

I use that so I can consult with my family members when I have questions.

It gives me time to reflect on my bid.

It gives me opportunity to do research on the property."

So, I guess any advice on how to handle this would be appreciated. I know wholesaling is not illegal, but somehow I have to convince this Department's screening attorney to not open this for investigation.

Thanks.

Loading replies...