All Forum Posts by: Rodney Williams

I have read several post here in BP on this subject, however I only see peoples opinon.

Here in Florida I have been told by an investigator from the DBPR Division of Real Estate that in order for there to be an equitalble interest in an Option to Purchase Contract said contract must be filed with the Clerk of the Court and there must be monetary consideration paid to the seller.

Failure to follow this will result in a charge of practicing Real Estate without a license.

He even said than many attorneys do not know this. Is there anyone that can shed some legal light on this. Even some direction as to where to find such a law would help. I have read the Statutes and see no information.

Actually he has owned the properties for some time. Maybe a private mortgage, but there is nothing recorded with the clerk. Also they are not in all in the same area.

Might remain amystery unless I can talk to him.

Thanks,

This might not be the right place and too deep but here goes.

This is in Florida,

During researching a property I came across a comp. that didn't look right. The owner sold the property to himself and the price appeared to be 2.5 times(145k) the value of the property I was looking at. When I looked at the actual warranty deed, there were eleven properites listed on it, and the consideration was $145k.

Any ideas what is going on here? Maybe a strategic move?

You've hit that nail right on the head Charles. Those emails are flying.

He supposedly is an investor in Tampa that lost big in 2006-7. He has some videos on *************.com and looks as if he is going to start selling some sort of class. He also has videos of his office and workers on youtube, along with some endorsements.

Sorry I'm late to the party JM. What is it exactly you want to do? Are you looking to purchase houses and fix them up? Where do you want to invest?

Actually a wholesaler purchases properties at a discount and sells them to re-habbers, landlords, or end buyers.

They may do the footwork themselves or they may buy from a bird dog, one who finds the property, does some research and quickly moves it to a wholesaler or re-habber.

Hope this helps,

I did several flat fee MLS listings and was black listed by all the Realtors. I thought it was a great way to protect their commision but I guess they did not see it that way.

Just a shot in the dark, send a letter in the hopes the forwarding address is still working.

Thanks Jon, this sounds like what is going on here. The last recorded instrument is the Quit Claim from Wells Fargo. I will do what you suggested and get the help of a Title Co. This makes a lot of sense now.