Also, I've heard a little bit about being deemed a "property dealer" by the IRS and it has me nervous.

Some of the methods you will hear about here don't work well in Portland.The guys in the club will know which areas are good, which areas are bad, and which areas look good by daylight but turn into drug dens when the sun goes down.

The guy turned out to be a convicted felon with a history of violent behavior and drug trafficking.

If you are a wholesaler, the IRS considers you a dealer anyway.Reason for the LLC is liability (protect personal assets in the event of a lawsuit) and ability to have expenses offset your income.

I have been taxed as a dealer.

It's a personal taste for investing and what appeals to you and your goals.I am bullish on multifamily,drug stores,medical right now.Commercial has trillions of maturing debt that is coming due between now and 2018.Banks are trying to hold on but the pain will have to come eventually.

The firm MUST be a licensed Broker/Dealer and you MUST have a Private Placement paperwork including your subscription documents and prospectus.

I'm a black jack dealer and we can leave early every night if we want, but you don't make any tips if you do that.

Aside from all the obvious issues Bill has so accurately pointed out, raising medium term capital without the help of a licensed securities dealer is VERY difficult.

Northwestern Illinois has traditionally been a good market for Lonnie Dealers as there are absolutely no street dealers in that part of the state, and smaller communities do not have strong sales programs to control their infill needs.