All Forum Posts by: David Pupo

 Well Rod the major companies like Blackrock own the properties or have used crowd funding techniques but title is owned nevertheless. If they own it that is an entirely different matter. Might want to check your spelling on "credentials" before you decide to quote.

Thought I would touch on this topic because of a conversation I had to other day. So I am licensed and working for an investment brokerage here in Florida. I received a call yesterday from another real estate agent who does wholesaling on the side asking about the services our realty brokerage does. 

We spoke for a while and I mentioned to him that I tried doing this on my own for a while but then switched to a brokerage to pursue it full time. He asked me why I made the switch since I could've made so much more money being by myself? I simply replied you're right but its also illegal to do it with or without a license and especially not being under a licensed broker. He was puzzled to hear that information which confused me since he was ACTUALLY licensed! If someone can be confused on this topic and was licensed, imagine someone who hasn't researched the topic!

So yes is it illegal in Florida to do wholesaling if:

A.You don't have a valid/active real estate license and are MAKING commission or profit off of a real estate transaction. 

B. If you are licensed and not under a broker and started your own real estate business (which was something I almost fell into so glad I checked it up!) 

Please make sure you know who you are doing business with or to put it simple Caveat Emptor.

@Michelle Elsaid

Welcome to the BP community, i think everyone above supplied great information in education and networking. I will be attending the GoREIA event tonight myself. Please feel free to reach out! Congrats on taking the first step remember the best way to see results is to take ACTION!  

What are the numbers in regards to the property? Nobody will purchase a property and or mobile home without without knowing the numbers or any existing liens on the property. 

Thanks a lot Jacqueline! It was an absentee owner. Nothing really needed being licensed on this deal and yes my broker gets a percentage of the wholesale fee. 

Jjust finally closed on my first ever wholesale deal this past Friday! So many thoughts ran through my head when I was handed the check. After trying this on my own for 6 months, then joining an investment realty brokerage here in Orlando. I quit my W2 position ro become 1099 employee and even though I hadn't closed on a deal yet, I knew this was an opportunity that I had to take. It is great to see the hard work payoff and know that with the great education BP has been giving me, that there will me many more checks to come in the future. To all of your successes!! 

Yeah it was a gutsy move indeed but I knew that it was something I could certainly make an immediate impact on. Yeah the lifestyle has certainly been an adjustment so far lol but getting use to it. I look forward to working with you soon Chris! 

 I joined a Brokerage who I felt could launch my real estate knowledge to next level (learn the ropes from) and help start building my own investing portfolio with them. 

Hello All,

I wanted to update the BP community since a lot of my knowledge and confidence in the real estate world has come from the multiple resources offered by BP. I resigned from my full time job as an engineering recruiter to join a Real Estate Investment firm here in Orlando, FL and do wholesaling full time! So many thoughts raced through my head in making the decision but in the end I knew where my passion was and decided to pursue it. Look forward to hearing other stories such as this! 

 Hi Tea and congrats on the first step. I couldn't agree more with Jake. Before taking a huge leap across borders, I think making your region in Texas your bread butter first before taking on international deals.