All Forum Posts by: Account Closed

Thank you gentlemen for the input. Great advice. I feel a little better now, but i will still speak with my attorney later this coming week. I did like the idea of the double close. Thanks again, I love being a part of the BP community.

My wife and I are new to this whole REI thing and are learning as we go. We have started to look into wholesaling and have seen many success stories and advice on how to complete the process from start to finish. The problem is that I am starting to see quite a few articles and posts from people saying that wholesaling is "illegal if you're not a licensed broker". How is this possible when there are so many people that have been successful in wholesaling, create videos on YouTube, post on BP and write books about the subject and never say anything about the practice being "illegal"? If the purchase contract clearly states that I may assign the contract and the assignment contract states that I am assigning the contract, why would it be illegal? I am a police officer and definitely can NOT take a chance of doing something illegal. I have an appointment later in the week with my real estate attorney to get the final word, but I would like to hear some thoughts from the BP crowd. We are in Florida and I know laws differ from state to state.

We are having the same issue here in Florida too, Zac. Hopefully you can get an answer that will help both of us.

Thanks, Ryan, great advice. I used the BP Fix and Flip calculator to make sure that i had all of the items you mentioned and can email the final pdf to my investor. I really like the idea of the back up plan, especially a BRRRR. Thank you again. I knew I could count on the BP community. I feel a little better now, but still nervous lol.

We have a conference call tomorrow with our first potential investor. He's willing to find 100% For a 50/50 split. Our friend knows him, so he's legit. I've run the numbers on the house we are looking at and they seem to work. Does anyone have any last minute advice to help us seal this deal for our first project? Thank you in advance BP friends.

We have everything in place for our business (LLC, realtor, website, social media, etc). Where we are struggling is finding the money we need to do our first one or two flips so we can create a portfolio. We need something that is low or no money down. Can anyone guide us? Thanks in advance.

My wife and I are just starting off in the real estate investment business. We have recently formed our LLC and excited to get started. I am currently a police officer and my wife is a stay at home mother of three. She used to be a manager at a large beach resort in the Tampa Bay area. Our biggest hurdle right now is how to find investors and fund our projects. Any advice would be greatly appreciated.