Wholesaling with a Realtor Spouse

[Jennifer Nicole Lapinsky]

So I'm in a somewhat unique situation.  My husband and I were both Realtors when we started in this business about 4 years ago.  Over time, it became apparent that only one of us could really dedicate the 12+ hours per day required of a new Realtor.  We have 3 kids and someone had to be around for them in the afternoon/evening.  My husband already had a very successful sales career prior to real estate with ADT, so he kind of had a built in pipeline.  Pair that with our broker having a longstanding relationship with his dad (my FIL funds most of our broker's fix/flips), the obvious choice of who would give up their license (and the thousands per year of keeping it up) was me.  

My husband wanted me to focus on administrative tasks and marketing, but I've found that to be kind of demeaning... I mean, before I got pregnant (SURPRISE!!), I was headed to Johns Hopkins for medical school.  I don't want to just create spreadsheets and stuff envelopes.  It seems like such a waste of what I can bring to the table.  So I am now starting out with wholesaling as a stepping stone to much more diverse investment strategies in the future.  (I have a long-term plan)

Anyway, right now we are doing a lot of direct mail.  I am doing much of it on my own because I know it's often a gray area to have a Realtor involved in wholesaling. However, I am putting verbiage in some of my letters that if they wish to go the traditional sales route, I can put them in touch with a local Realtor who may meet their needs.  At the end of the day, all of our money goes in the same pot and I don't see anything wrong with this two-pronged approach.  I'm sure there are plenty of potential sellers out there who may not be ready to sell at a deep discount, but may be willing to list with a Realtor.  It's kind of changed my mailings vs the examples I've found on BP and online.  

Just curious as to the thoughts others have on this.  I'm also bringing this up because I can't be the only person with a spouse/SO in the business who could benefit from a two-pronged approach.

[Russell Brazil]

Better clear this plan with your husbands broker.