All Forum Posts by: Tony Smith

Hey Alana, thanks for posting! :) 

As far as disclosure, I am not sure, I would think that your state real estate disclosure laws would apply. Since you are “part” of the transaction either on the back end or middle and not directly with the sellers up front perhaps there may not be a need to disclose from the unlicensed person.  However, I think that disclosing is actually better when you’re actually in front of the seller bc it automatically qualifies you as a professional. (Think credibility). I just say that i’m a Realtor however, im acting on behalf of my investment company and have no interest in representing them to sell their house to make a commission. Karl Krentzel has a really good podcast that may help. He explains what he does in the state that he’s in when he is wholesaling a deal despite the fact that he is a broker. 

Here’s the link: https://youtu.be/UbxsbuRuyhs

What’s up Cameo!! 💯💯

haha so is my dad! Maybe we’re long lost bro’s! I’m from New Orleans originally - Belle Chasse. I just moved out here recently the last couple of months. 

Awesome! Thanks for the $0.02 Braden! Much appreciated 

Hey BP fam! This is my very first post on a forum (ever) so I apologize in advance for it's poor structure.  I am a newly Licensed Realtor in Louisiana.  About 2 months after I received my license I found out about wholesaling and was blown away. I like the scalability of it and of course the margins.  Honesty is the best policy of course but it seems like the state laws make it hard to remain anonymous via mailings.  I mean, when qualifying seller leads and telling them your willing to give them close to 50% of the value of their home, some are, of course, blown away.  It doesn't seem like a smart idea to put your brokers name and number on a direct mail piece for that reason.  Wholesaling is, however, a numbers game and out of 100 leads that aren't interested in selling their home below value, you WILL run into someone who values convenience over price.  That's where the money is and wholesalers really do solve a major problem with these types of sellers.  So, I'll ask a few questions that I have and hopefully the BP squad can fill in the rest. 

Allrigght! Let's put the meat and potatoes on the table and discuss the do's and don'ts of wholesaling as a Realtor. 

1. Direct Mail Disclosure? - Doesn't seem ideal to put the brokers name on a we buy houses mailer.  Couldn't we disclose at first meeting and/or on purchase contract? 
2. Do Realtors have to split the assignment fee with their brokers?
3. State Contracts or Personalized Contracts?  
4. Would an unlicensed acquisitions manager/dispositions manager be considered engaging in real estate activity even if what we are selling is the contract to purchase. 
5. What is the correct way to market a "deal" or "Contract" for sale? Craigslist? Faceboo k? Cash Buyers List? 
6. Is it necessary to disclose the true or estimated current value of the sellers property when buying at a steep discount?  
7. Also, for people in the state of Louisiana where we have law of lesion.  How can we avoid Lesion Beyond Moiety? (law that states that a seller may rescind the sale of a property within a year for any reason if the buyer purchased it 50% or less of market value)

Does anyone know any good references of Realtors who are wholesaling already. Gurus? 

Thanks Ya'll

BAAMMMMM!!! ;)