All Forum Posts by: Verna Doniza

Thank you all for your comments! I really do appreciate them! The REI that I was referring to --also have a RE license. She said that she didn't know any better at that time. She said, she thought that it would be nice to have a license because she's dealing with real estate and at that time, she was thinking that she would look more reliable since she has a license and the education, but she said -she then realized that if let's say she bought a home for a wholesale price (w/c means it was about 20% below market value). If let's say after a few months or so, after the transaction has closed, then suddenly, the seller had realized that he/she made a wrong decision in selling that home for that price, even though he/she knew it was below market value, and if they try to collect money or the difference by suing the investor/realtor --they may win the case because, she then told me that, the law will be more favorable to the one that didn't know any better, which in this case, it's the seller.

I was told by a REI, that if you would be in the REI industry, it would be best not to get a RE license, especially since you will be looking for distressed home owners that may need to sell their homes fast, because as someone that is licensed, you should know better; and that you should not be taking advantage of such deals, because doing so... you will be liable to the gov't or to the law... something like that. Does anyone have any related experience or information?