All Forum Posts by: Luis Herna

I am close to taking my test, but during the course, I have learned all the things you need to be careful with when doing deals. It is true what someone told me once: getting my license can get me into trouble more quickly than doing wholesaling deals properly (following state law). Any minor mistake can get me in trouble, so I am looking for a sponsor who can guide me to avoid them. I have built a huge network (in commercial deals) of investors, syndicators, funds, family offices, etc., during the past months. The reason I want to get my license is to get referral commissions on deals in other states. Any advice?

ok, I do not have the PSA yet. We are in the LOI stage.. Like I said I have the buyer ready to buy. So again, can I put my name as the assignor and his name the assignee both as buyers or just my name?

Ok I am representing the buyer not the seller. and I will have a buyer agreement in place. Texas does not have a reciprocal agreement meaning TX agents will handle the deal but the buyer should cover my commission.

I have the buyer and seller, I am wholesaling the deal. In the LOI, should I put my name and the buyer as well? or just me? Notice in some state like Texas, I MUST disclose I intend to assign the equitable interest. So I believe I should put my name as the assignor and the buyer as the assignee. I just want o let the selling party my intent. Please any advice would be appreciated.

Let say I am a licensed real estate agent in oklahoma and there is one buyer in new York wanting to buy a property in Texas. Can I represent him? or need to get texas license? 

 Jonathan, I am not asking for legal advise, I said advise, without the word legal.  and NO, I am not part of the
99 percent of bad wholesalers who will be out of business as you implied because I have a huge network of direct buyers. I run two big groups on fb and we have been bombarded by big pocket end buyers so closing big commercial deals 10M+ is not the challenge here.  I just want to do things within the law and if a RE license is required then I can certainly get it within few weeks IF NEEDED.  I was hopping to find a very knowledgeable attorney who can tell me exactly exactly what to do or not and be on the safe side of the law.


thank you for your time..

Are you an Oklahoma lawyer? Have you read the OREC rules from top to bottom? because my post required a knowledgeable  person regarding the OK law. 

I just want to hear from knowledge people about the law.

 
Jonathan, the above was an example only for a post. If what you say above is true then 1M people of fb need a license. by the way, I thought you were an attorney. With all my respect, most real estate agents have no clue what the laws are. Have you read the TREC rules? if you can tell me to any of the rule that states what you say above please please let me know..