Summary: To be licensed or not to be licensed, that is the question. And an age-old question indeed, invariably asked by every real estate investor, from Maine to Malibu, Tacoma to Tampa at some point. So which is it? Which is the better decision? Well in this podcast, listen in as Joe walks us briefly through both of the proverbial coin, and shares his frank thoughts on whether or not real estate investors --and especially wholesalers-- should have a real estate license. Hopefully this will help you make the right decision for you in your own business. Watch and enjoy: What's inside: 00:52 – Why are we talking about getting a license? 03:59 – Wholesaling is brokering real estate! Let me tell you why... 05:17 – Disclosure, disclosure, disclosure 07:16 – What to do if you don’t want to get your license? 09:31 – What tool will allow you to close on a double closing when you don’t have the money? 10:46 – Why would you want to hire a Realtor? Tweetables: Do you need a license to wholesale properties? Well, yes & no… [Click to Tweet] Controversial: Why you should get your license if you are going to be wholesaling properties... [Click to Tweet] When wholesaling, there's NO law that says you can’t buy a house, then sell it as for-sale-by-owner... [Click to Tweet] Important Email From Jeff Watson, an Attorney in Ohio: Download HERE Mentioned in this episode: Facebook Group: Wholesaling Houses Full Time Transcription: Download episode transcript in PDF format here... Joe: Hey everybody, Joe McCall here, Real Estate Investing Mastery. How you doing? Just wanted to do a new Q&A here about a certain topic that just came up in Facebook. Now those of you don’t know there’s a really good group called Wholesaling Houses Full Time that Alex runs, my podcast co-host and so just go to Facebook to look up Wholesaling Houses Full Time and you’ll see a great group there. There was a threat that just was posted recently and I wanted to throw my 2 cents in there and it’s all about, can you wholesale properties without a license? Now the Real Estate Commission in Ohio in their latest newsletter just issued a notice in their newsletter, a newsletter notification or whatever you call it. I just wanted to read it to you and give you my 2 cents and tell you what I think is really at stake here in what this is all about. All right? Again this is just my opinion. I’m not an attorney. I don’t play one on TV. Every state is different. You got to look at your state law, contact an attorney, and you know what? Why don’t you call your Real Estate Commission and ask them what they think about this okay. I’m going to tell you what I think. I have been doing this for a long time and this is what I’ve always thought and I’ve always taught. Number 1, it says on, let me just read it to you, it says, “Beware of seminars that teach unlicensed real estate activity, the division enforcement section wants all licensees and the general public to be aware of individuals, groups, training seminars, coaching programs or otherwise which may be providing instructions on how to circumvent real estate license law. Beware of seminars that provide instructions on wholesaling and option purchase contracts. Language included in these schemes include tying up the real property, putting the house in contract until a buyer is found, and placing the home in contract for the purchase of … for the purpose of reselling the property.” Despite what is being taught at these seminars, a real estate license is required to engage in these activities. The seminar instructors advise attendees that they can place a property in contract or under an option contract, at which time, the attendee can then re-market, market and resell the property for a profit. The instructors also advise attendees how to bring buyers and sellers together through the use of an assignable contract for a fee.
