All Forum Posts by: David Jonsson

https://www.cubixsolutions.com has Classified Searcher that I have used 

I assume its ok to describe a property for sale as a "Wholesale Deal".

I just didn't know if that would raise red flags for whatever reason.

Is it bad to create an ad specifying the property is vacant?

It seems criminals might search for vacant houses to break into..

When I first got into the biz, I would always ask my mentor if what Im doing is legal.. he would constantly tell me if Im not hurting anyone, if im being honest, and my customers are happy, then who cares.. because it is impossible to know all the laws and you cant please everyone.

The reason I was always concerned about legality was because I was raised in church and taught money was evil and I was brainwashed to always ask permission and not trust my internal decision making abilities.. the gov't doesnt tax churches because it creates docile servitude-minded constituents who pay taxes without question, and respect authority.

I venture to say that every American success story started out violating someone's standards, written into law or not, and just because someone put ink to paper does not make the law somehow legit. (think slavery, colonialism, drug war and other state-sanctioned oppression and exploitation)

So my advice is put blinders on, move forward, and ask forgiveness if you must but never ask for permission because the answer will always be no. They dont want competition. Becoming powerful in any industry will ruffle feathers. I guess its the difference between being a good employee who doesnt rock the boat, and being a revolutionary business leader who creates jobs. good luck!

I just got decision letter from DSPS today. They are not going to pursue case against me :)

I found this similar situation: http://propertymob.com/blog/example-of-another-very-smart-realtor

You "might" buy it? Please, you know if you will or not. How is this not what you accuse me of?

You use some words that I must defend myself against: not dealing in good faith? avoid responsibility? ploy? deceive? misleading? lack of education?

I'm offended. Since when is knowledge a prerequisite for participating in the economy? I have a right to work. #CaveatEmptor. Maybe I'm stupid, but so what?!?! I solve problems and I get paid. You can use all your logic, reasoning, and rambling to convolute and seem superior, as if that somehow positions you as more legit.

I'm not impressed. You have no more right to make money than me. All the fancy contracts, paperwork, semantics, and language games don't mean anything. At the end of the day, business is man to man (or woman). You shouldn't be threatened by my purported naivety.

I think the industry can handle a wide variety of creative participants. In fact, creativity creates jobs. Legality is grey area based on who has the power. The power is established by who has competitive advantage (licensing). That is created by laws via lobbyist representing the fancy pants game players who, like you, try to squeeze out a mom and pop player like me. Oh well. I live to see another day and in this market I shall play. I am not afraid.

All that said, thanks for participating in this forum post. I have a lot to think about and more confidence moving forward now, even if we disagree.

P.S. One thing that makes America great is that we can choose to work. We dont need permission or employment. Big government tends to stifle entrepreneurialism and the problem solving that happens on the street, face to face, day to day. The day we let a few bad apples destroy our freedom to work, our right to make money, dealing in properties, is the day I dont want to see. Although, I think we already saw it with the market crash. Big Banksters are the bad guys, not me, sir.

He is telling me that he has experience since 1998 in most aspects of real estate, unlike the other attorneys I spoke with who couldn't even distinguish between brokerage and wholesaling. They did not give me any indication of knowledge or experience in the field, nor did they convey to me that I will be safe under the protection of their council. In fact, they only worsened my already debilitated confidence by telling me they were concerned that my activities might be unlawful.

So it wasn't anything specific yet that he told me per say, that i remember, about what Im doing, other than just the general premise that I am selling (assigning) my contractual rights. I mean, basically he just let me understand that he understood what I was doing and that it wasn't illegal. So, essentially, this attorney that believes that I'm innocent. I think that is an important foundational aspect for any relationship.

I need people surrounding me to support my activities, not question me or doubt me, and especially, not make me feel guilty. Real estate entreprenurializing is hard enough especially when we are flying solo. The least we can do is have a team that empowers us with faith and confidence. If I'm breaking the law, I want to know. But I am not breaking the law.

I realize maybe I didnt answer the question, I will probably talk to him this week, so I will update more..

I finally spoke with a competent real estate attorney with experience. He stated that his understanding of the definition of wholesaling is buying a bunch of notes for example from a bank and selling them. Point being bulk, as opposed to single unit transactions, which he referred to as retailing.

Whatever the case regarding choice of word and definition of that, a key distinction about the activity of wholesaling is that I am selling my position to a third-party.. its not about doing it for the benefit of third-party.

Those are legal distinctions that we need to know when defending ourselves against Realtors who think we are encroaching on their turf, and turn us in to the Wisconsin DSPS.

The properties I put under contract, I intend to buy myself. However, if I am in a situation where I need cash, then I will wholesale it. Getting a license does not facilitate my objective. It is a distraction. I am not looking to be a broker.

If I have something under contract, I have a right to assign it. I dont need to be licensed to do that. Licensing is just a way for Realtors to try to monopolize the market of liquidating real estate by using their proprietary MLS.

I dont care what the commodity is. It is like futures trading, I lock it up at a price then sell it later. My prerogative. My America.

but, @Bill Gulley I appreciate you pointing out potential concerns, but i prefer to focus on what i can do, not what i cant do.. that being said, we may need to turn the lights down haha