All Forum Posts by: Ryan Adams

@Guy Gimenez woah. That just resonated with me so much. 
I don’t ever want to have to back out of a deal and eventually when I get enough built up I want to been able to have the option to buy properties that I think are a deal. 
Thank you for the advice!

@Michael Ablan I'll make sure to remember that, thank you!

@Ronald Rohde I gotcha, recently I've shifted to long term thinking and while this is about me making money I also want to be able to help people. My post was initially just to understand my options in the event of a worst case scenario however I want to make sure I have buyers first before I even start thinking about finding sellers. Thank you!

@Braden Smith I believe in doing good by others and being ethical so that’s why I was asking. I really appreciate the insight.

Like I said I’m making sure I get all my ducks in a row before I even get started in terms of having a list of buyers ready before I try to find sellers.

Do you ever look for properties up in this part of LA or are you mostly down south?

@Sam Shueh I'm extremely new in REI so could you elaborate and explain to me what principals are?

@Braden Smith I live in Shreveport, I've seen a lot of posts saying that states are coming down on wholesalers and was wondering if Louisiana is doing the same. Is it illegal to wholesale here, do you need a RE license, do you have tp have an LLC?

I've spent practically all of today reading/researching on BiggerPockets about wholesaling and all the information has been really helpful. I've seen a lot on how to get started with your first deal along with the do's and don'ts but... I've seen a lot of posts saying that states have been coming down on wholesaling but haven't seen anything saying whether or not it's illegal to wholesale in Louisiana. 
Are there any wholesalers in the NWLA (Shreveport or surrounding) that have had success and that can give me some insight on the topic or let me know straight up whether or not it is or isn't legal?

@Wayne Brooks No, no, no I don't want to come across sounding like if I don't find a buyer I'm gonna back out. I was posing a hypothetical, like what if I have a buyer but then they split and I'm left with a house that I promised to buy but can't because I don't have the money for it. Basically just wanted to cover my bases but I'd prefer to have a list of buyers already in my pocket so that this never becomes an issue.

When I do start I'm going to be as transparent as possible with the seller bur for now I'm just asking questions and getting answers.

As far as checking state laws, would I find that information on the state website or are there other places I can go where that information is easier to find? 

@John Thedford I want to be ethical for sure and don't want to screw anyone over and face the reprocussions such as bad word of mouth. 

Should I get my Real Estate Liscence or is that just a foramlity though? Because I've heard that you need one and that you don't, or does it just depend on what state you live in?

@John Thedford gotcha so the proper way to do it would be to let the seller know that you’re more or less a middle man, right? Or would it be fair to say that you’re an investor rather than a buyer?

If I got my real estate license would that negate the fraud if I wasn’t the buyer or would it be the same?