Wholesaling with RE License

[Brett Iwanowicz]

Currently I own and operate a PM management company, and have procrastinated in getting my RE license; I am doing so as we speak. The market is SOOO saturated where I live, the scraps aren't even worth fighting over, home prices are selling well above asking, properties that need updating are selling at ARV values. Investors are buying based off appreciation, rather than cash flow, and I just cant compete. Myself, and my investors are looking to make 10-12% and it's dang near near impossible to find a deal. This has forced me into a position to be creative and start direct mail marketing, pursuing off market leads. It seems that it would be quit easy for me to market myself as a reputable wholesaler, as I have already established myself within a great network of associates, also including the lack of creativity with handwritten signs all over the place. My questions is, how does this relationship work with my broker? If I place a home under contract and make $10,000 at closing, I obviously have to run this deal through the brokerage. The only way around this is to eventually start my own brokerage firm correct?

[Bill Gulley]

Question is what does your broker think......wholesaling for an agent is nothing more than a net listing arrangement, run that by your broker. You avoid the issues by taking title in your name, then sell it, several ways to do that and stay  legal, ethical and safeguard your reputation. Good luck :)