All Forum Posts by: Michael Batts

Thanks a lot. Congrats! & Wish you luck on your investing journey William!

Thanks for replying Guys. I came across some information today that kinda put me at a halt. Soo.. I was under the assumption that you don't need a license to wholesale. Today, I heard that a wholesaler is operating illegally as a broker if he doesn't have a RE license.. that's a bit scary lol. Do you guys recommend getting a license just to be safe? If not, what are the guide lines on wholesaling legally? Should I write another forum for this question?

Hi Gabriel, 

I'm just getting started in wholesaling as well, so this definitely isn't a EXPERIENCED response. 

In wholesaling, what seems to be most important is that you find incredible deals (or they find you)  & you have cash buyer investors ready to look at & act upon on your deal. The more investors you have, the less you have to worry about closing the deal..especially if it's a good one (someone is going to act). Many argue that creating a buyers list is the first step, others argue that you just need to find the good deal. From my perspective, I say focus on both. 

Establish your marketing strategies to find motivated sellers, build relationships with investors (they love ppl. that bring great deals) & get rolling! Wish you all the best!

So.. I've been working non-stop to learn everything I can about wholesaling.. Yesterday I created my first bandit signs to put out, but began to feel anxious about potential sellers calling. I know many new investors go through this phase. I pretty much know what to ask them about the property.. however, I get stuck (in my head) on how to position myself when they're getting ready to sign the contract. I've heard some wholesalers say Never tell them you're not actually purchasing the property & I've heard others say to just be honest. Honestly, being transparent makes me feel a lot better about it. On the other hand, I don't want to lose deals because of the reputation of wholesalers. Please Help!