All Forum Posts by: Jamie L.

oh,
to richard warren (sorry, i replied around the same time you did, i guess...)

Also, i want to know if all the time and effort is worth it.

If you think you're savvy enough to take on the challenge to help me, please, by all means!
Really, what my problem is is i don't know where to start. I don't know if I have enough knowledge to do so. How many books and seminars would i have to go through to be "ready"? Please help! I want to start investing asap, but I don't think I have what it takes...:(

1). Complete a wholesale deal. It's so difficult to start out. :(

to Daniel Houston: Have you ever made wholesales based off of either of these books? (and profited?)

"I'd sure hate to tell my cell mate I'm in for using the wrong font on a contract, but that's the way the law reads."
Hahaha! that was funny! anyway, I did research some REIAs, but I don't know how much it costs to join yet (I'm in GA by the way). Well, thanks for your advice; I'm definitely going to put it to good use!

Thanks so much guys! I really appreciate the help! I've been doing hours of research on wholesaling on different websites and they all say different things most of the time, so i get really confused. I just found this site today, and i'm glad i can get "person to person" advice~ again, thanks!!

To Brian: I don't know what any of those transactions mean... I guess it's back to google for me! (I'm such a noob---)

Oh! I still don't know how to obtain those contracts. Would it be wise to get an attorney to compile one for me? Or can i go to office depot and use those (although, i've read that they are quite unprofessional as well as inadequate for wholesaling...)?

also to Jon (if you don't mind me asking): Have you ever done a wholesale before? Just curious :)

Hmm, i don't think i quite understand the phrase "principle to the transaction". Can you elaborate, please? Also, do you, by any chance, know how i can get my hands on this wonderful "contract" everyone is speaking of? I've heard of the clauses and such and the "and/or assigns" deal, but I don't exactly know how to get the contract itself. Should I hire a lawyer? And also....one more thing (sorry my post is so long): I thought bird dogging and wholesaling were interchangeable terms.

I've read a lot of stuff about real estate wholesale being illegal with out a licence. This is an excerpt from Havard graduate John T. Reed:
I suspect that much of what is advocated as flipping is really unlicensed brokerage. Indeed, the two actual-case-history articles I wrote about real flippers both involved real estate brokerage firms that did flipping as part of their overall activity.

I have heard gurus say words like, “You’re really just bringing a buyer and seller together.†On page 2 of Flipping Properties, the authors say, “Investors who flip houses accomplish the same basic tasks that real estate agents accomplish.†Their point is how easy it is. My point is that if you are just bringing a buyer and seller together, you are not an investor, you are a broker.

It’s not just a semantic issue. Brokers are licensed and heavily regulated. If you are engaging in brokerage without a license and without complying with the various regulations, you are breaking the law. In some states, a lawyer can broker real estate deals without getting a real estate sales or brokers license.

Also, i read elsewhere that "bird dogging" is illegal w/o a real estate liscence. Is all of this true? How can i find out?
Thanks!
~Noob