All Forum Posts by: Richard Ayvazyan

Hey BP, do you need a Real Estate/Broker license to be a wholesaler in Nevada?

Sunny,

Thanks for your reply.  I've been doing a little research from Department of Real Estate and found this.  It clearly says that you would have to be a Broker.

Thanks guys for all the input.  One more question.  Does wholesaling require a real estate/broker license? Specifically in California?

No, these sites are more focused on the regular consumer. There are some other websites that are helpful and geared toward the real estate investor (PropertyRadar, RealtyTrac.

I'm curious to understand how wholesaling works? I understand how it works but want to know how wholesaler's make money? If you are a wholesaler, you get a property under contract (by putting the Earnest Money Deposit) in escrow then you have a certain amount of time to find an buyer/investor to assign the contract over. Right?  What are the fees you charge on top of the price? Is it a flat fee or an percentage? If you don't find a buyer by a certain period, do you loose your deposit?  

Your insight would be greatly appreciated....

You might be overthinking this one. If it was me (been there, done that) I would jump on the opportunity to buy where you are now.  Don't think about 2 or 3 years from now. If you can buy something now and turn around and sell it and make profit NOW (no brainer).  If the profit is large enough, you might not need to worry about future financing.  There are products out there where you can put 30% or 35% down with stated income (no verification).

We must of moved over 10 times in the last 8 years.  Our movers know us personally by know (no joke) and my wife gave up unpacking the boxes, knowing that I am always looking for the next flip.  

Don't run away from your situation of over think it, embrace it.    

Here is my two cents:

Roll out your product and gain some real traction first.  You will have a hard time finding a VC that would be interested in your product at this stage.  The most important thing that VC's are looking for besides other things is "Positive Cash Flow" and "Execution".

Once you gain real traction and show your analytic s for your business regarding growth ( month over month or week over week) with your ability to execute, then maybe you can have some heads turning your way.  

At some point in your venture, you need the backing of a VC, however that comes into play when you have proven a successful business model and are ready to scale your business.

You might want to pursue more early stage funding, like Angel investors.  However, same concept applies to Angels as well.

Yes

Check out the Fliper Report for details: http://www.fliper.com/report/671

If interested, please contact listing agent directly.

Thanks,

Check out the Fliper Report : www.fliper.com/report/596

This property is under contract and ready to be re-assigned.

Thanks,