All Forum Posts by: Jacob Papp

So would it be safe to say that getting a broker's license would solve all these potential issues that could come up while pursuing a wholesale deal?

Originally posted by @Jay Hinrichs:

Originally posted by @Jacob Papp:

@Mike Nuss Would having a RE Agent on your team mitigate the danger of being taken to court for wholesaling in Portland? For example. If the potential seller first spoke with a RE Agent on my team over the phone, but then I went to negotiate the final contract with the seller (but I do not have a REA's license)... how do you suspect this would be play out legally?

Thank you for your contributions to the forum!

as long as you close on it.. if you just try to resell it via assignment then you will run afoul..

here is an e mail I got from the DRE in Oregon when I forwarded a marketing piece from a wholesaler..

State of Oregon - Real Estate Agency

Frances Hlawatsch | Financial Investigator

Best regards,

Thank you again for the information, if I have further questions for you during the investigation I will certainly reach out.

The Agency is well aware that unlicensed “wholesalers” are rampant in our jurisdiction. Addressing the problems is like trying to put out small individual fires in a forest that is burning. The Agency’s investigations are complaint driven, so we rely heavily on the public, and our licensees to bring these individuals to our attention.

Thank you for getting back to me. The advertising copy you attached to your email came out perfectly and will be very helpful. Thanks!

Hello Jay,

there were two of them one from out of state and one in state.. out of state got letter stating if they got turned in again the agency will take action.

the instate one this went to a full blown hearing.. end of the day same thing.. they let them off but it cost them money to defend and if they are turned in or caught again.. big trouble.. so its your call.

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I am new to Portland, OR, and would like to divest my holdings in any national banks and move to a community bank. Any suggestions for a good community bank that is helpful to future RE Investment businesses?

Thank you for any input!

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Thank you for your contributions to the forum!

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All Forum Posts by: Jacob Papp

Jacob Papp has started 2 posts and replied 4 times.

Post: Oregon RE Broker License Schools

Post: Introduction From Portland Oregon, Building A Wholesale Network

Post: Portland Community Banks

Post: Introduction From Portland Oregon, Building A Wholesale Network