All Forum Posts by: Sean Price

Thanks, these are great!

What verbiage should I use when putting a non smoking clause in our lease for a rental property? I am allowed to include that right?

Thank you everyone. This has been very helpful.

Thank you.

I have some applicants for a rental property coming out on Thursday, how do I run a credit report on them? What am I looking for on the credit report? Any advice is appreciated.

Sean

The best starting point is to pick a strategy they would like to do (buy and hold, flipper, etc.) and then find a partner who is already doing it and partner with such an investor.

If you don't have start up money but are interested in starting in flipping then moving to buy and hold, how do you partner with someone already doing it? If they are bringing the money to the table, what could I offer to bring to the table that would make the partnership win win?

I agree. When I was studying for the licensing the wording was something like "anyone who performs a real estate activity in the state of Florida (where I am) with the expectation of compensation without a license is practicing real estate without a license."

I have another post on this and someone mentioned that it really muddies the waters, and I agree. My question then is wholesaling in the form I described legal at all? It sounds as though you may need to be licensed to wholesale (without actually owning the property), and if that is the case, then you have to have your license hung with a broker, which means that all income must go through the broker, which means that the broker would be taking a cut of all wholesaling transactions, even if they are never actually "listed" by the agent.

Am I understanding this correctly or am I possibly over thinking it?

I may have misunderstood, but I thought that as a wholesaler that was how it worked, you found the deal and were basically paid a fenders fee, but you never owned the property....that is how you got started without money. Am I correct in that assumption or wrong?

Mark,

I read on your other post that you are a realtor. Would you recommend staying away from wholesaling if I have my realtor's license? The reason I am asking is that I am at the point of hanging my license with a broker and have just discovered the world of real estate investing and want to dive in head first. Not sure if the best way to go to build up cash is as a realtor or as a wholesaler...and if I do get licensed how that will affect my ability to wholesale. My long term goal is to get enough cash to start flipping and using that cash to buy and hold for the long term residual. Just trying to figure out the best way to get started. Again, my wife is a realtor so we have access to the mls....but she hates doing listings so I got my license to handle the listing side of the business.

Thanks for any input.