unlicensed activity

[David Jonsson]

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.

[Dev Horn]

Well, that's it! Let's all stop wholesaling deals!

Look, this guy called you asking questions. You have the right to ask questions too, such as:

EXACTLY what law or regulation are you accusing me of violating?
WHAT evidence do you have to support this claim? One of my direct mail pieces?

I'm sorry guys, but I guess I am a bit of a hard a**. I do push back against people who think they can prevent me from purchasing real estate. It's crazy talk to sit here and cast a bunch of fear, uncertainty, and doubt over whether "wholesaling" is "legal" or, jeez, "MORAL". That train left the station long ago. People are wholesaling properties every day. Where are the stories (here on BP or elsewhere) of people who had ACTUAL legal action brought against them for (1) entering into a perfectly legal agreement and (2) legally assigning that agreement to another person or entity. WE DO IT ALL THE TIME so I just don't get this - another bunch of posts where we're being told to keep our heads down so we don't get popped.

FOR WHAT?