All Forum Posts by: Gary Parker

I think wholesaling is a grey area...just my opinion. Is it purely brokering or purely selling a contract? I dont know and is certainly up for interpretation. Just as an attorney can have an opinion it is OK to "wholesale", the attorney at the Division of Real Estate can have an completely different opinion. And guess who has the power? And guess who is going to charge you a ton of money to represent your your/their opinion in court? Now having said that if I were not licensed, I would still "wholesale" or sell a contract. If someone is that concerned just buy the property and resell as a principal. In Utah an agent can not take a net listing (seller gets a specified amount and agent gets anything above that). Wholesaling is doing exactly that. Just food for thought.

Agreed. Government should focus on properly enforcing what is already law.

Now that makes sence. One must always look for new doors to open. Luckily for me I don't see it becoming illegal to mail anytime soon. We don't make the rules but clearly you and I would support different rules or changes thereof.

By this logic it should be illegal to drink rather the making DUI offenders face tougher penalties.

You as well have a good day.

Best post in the thread :)

You caught me. The 1% is BS; however, that is just because I don't keep track of such things. The number of angry callers in relation to number of mailings sent is very small for me. Most call and simply ask me to stop mailing to them or why I am mailing to them. I take the time to remove them form my mailing list and explain how they got on the list in the first place.

Frankly I dont understand the difference between a food coupon enticing people to go to a food establishment and a postcard asking them to call me because I buy houses. You mentioned price. OK, that is one difference, but honestly I do not see why that is an issue. Of course price is a difference because we are comparing two different commodities. I am licensed, so I work the business as I see fit within the constraints of the law. However, if someone is not licensed simply close on the property and resell. In my opinion one does not need to be licensed to buy a property then sell a property as long as the buyer takes ownership as a principal and then resells their property. It is also my opinion that assigning contracts while unlicensed is a grey area. Personally I think assigning contracts with out a license is acting as and agent or broker. But, I have no desire to take the time to get caught up in that discussion. Lastly, I am a real nice but who cares if people hate getting junk mail. So what. I could write 2 pages on that alone, but I don't have time because I have an appointment with someone that received a letter form me.

Yep my post is full of words. My post is only my opinion unless I am citing a source or using quotes. I do have rights and what I mail is legal. And, some people in this business are 100% honest. Of course it is not always the case. That is why people need to be careful when selling RE, buying a used car, or doing everything else in life. I can only be concerned with me. The Division of Real Estate can be concerned with people working the business the improper way.

From your post that got me started

"My hopes is they make this stuff illegal. Come on get real.these mailings are for the little old lady who does not know how to do the internet. Some slick willy slides in and steals here place for an undermarket price. Its nothing more than preying on the weak. It should be illegal"

I am offended and this makes my blood boil. You want to make something illegal because a few people are unethical in their business dealings. Why not make the punishment harsh for those that break the law or are blatantly unethical? To make a blanket statement that soliciting to buy a house via the mail should be made illegal is outrageous. It wouldnt surprise me though if someday Mr. big government tries to regulate my mailings because 100 people in the country think it should be illegal. (The 100 people is BS to illustrate a point) Just because I buy a house under market doesn't mean I am acting in an illegal manor or an unethical manor. People sell cars to Carmax all the time for under market value. Should that be illegal if Carmax sends me a post card?

I dont give a rip who threatens to sue or does not like what I am doing. Are you suggesting I stop because a few people dont like what I am doing. I can not control how people react to my mailings. Again, are you really suggesting I stop mailing because a few people dont like it?

I am fair and honest, and I am offended. But, I have said enough about that earlier in the post. Now here is the most outrageous part of your post: "I also think the reverse is true". Really, you know me and how I operate my business? What is with you lumping people into your nice little categories? He is an investor that mails letters therefore he is dishonest and unethical or that person got mad because they got a post card therefore everyone that gets a letter gets mad. Yes I am honest an ethical AND I am offended by your assumptions.

I guess I need to be more aggressive in my marketing because I only get threatened to be sued once a month. I have actually received three letters from attornies in the last three years. My opinion it is criminal for an attorney to bill someone to write a letter asking some one to cease and desist doing something that is not illegal. That is the real crime. I have every right to mail to whom I want to mail to. I also work hard to take people off my list when they ask.

Wow! You sound like the 1% of the people who get my mail and are some how upset and threatened they got a letter or post card from me. I feel like asking them if they get that upset at Dominos for trying to get them to eat pizza for dinner. I mean food and shelter are the basics of life. There are honest people and dishonest people in every business know to man. It is 100% possible to run a honest ethical RE investing business even with old ladies. There is a probable net amount derived from listing then there is my offer My offer is lower and there are a lot of reasons people sell at a lower price than they will net by listing. I disclose all if that as well. Frankly I am offended by your statement.

As far as issues with wholesaling either close on the property or get a license. Doesn't that solve everything?

Please explain "bulk rental financing".

1 bed 1 bath probably hard to rent. What general area was it in? Was it a condo?