All Forum Posts by: Jorge Rendon

Hey Jorge,

I think this may be one of the most commonly asked questions on BP so you can probably find a ton by search through the forums but I think the best answer is that it depends. I am not an agent nor a wholesaler but I have researched enough to know that it varies a lot state to state and you most likely want to consult a real estate attorney in your state prior to doing so.

As far as I know, it is completely possible to wholesale as an agent, but they are held to a higher standard and as you alluded to as require certain disclosures such as the fact that you are an agent. It may be a good strategy if you are looking for both clients and properties to wholesale to market to motivated sellers, and explained to them that you are focused on giving them a quick cash sale if that is their priority, however they could very well get more on the MLS and that you would be happy to represent them if that is the case. I feel like if you get in front of them with multiple options of how you both may be able to mutually benefit, your business has a much higher chance of success.

I'd try some other strategies in the meantime @Jorge Rendon. I mean, your credit is great...keep working toward that and being financeable. I'd shift gears a bit if i were you. generate some chunks of cash via flipping or wholesaling for shorter term income, and maybe try to pickup some properties with owner financing, that way you don't have to rely on the banks. or, work toward finding some Priv Lenders.

Your best bet would be a stated income loan which will go based upon your liquid assets and keep that loan for the short term then refi out once your income situation is squared away. Rates will land in the upper 6'st

Hey! @Josh Dillingham Thanks for the mention.

@Jorge Rendon The time of reemployment after a long break depends on many factors - what was the reason of the unemployment, are you in the same industry as before, how long where you working before your unemployment. If things line up, then you can re-qualify after 6 months for full time W-2 job.

other options would be hard money or private money lenders.