I don't need no Stinkin license

[javipa]

REBUR:  I might be filing a cease and desist order against you.

RANDO:  Cease and Desist order?  Against what?  You don't even know what to tell me to stop doing.

REBUR:  Well, you're doing 'something illegal,' until you prove it's not illegal.

RANDO:  Sir, where do you keep your broom?

REBUR:  I don't know what you're talking about.

RANDO:  Where do you keep your broom?

REBUR:  I don't have a broom.

RANDO:  What about the one you rode in on? 

[Gold River]

Hi,

    Now I'm laughing, this sounds a lot like the crap I went through 12 years ago! Although it was not funny at the time this sure stinks like the California bureaucracy and the know it all state employees who put there foot in their mouth before thinking? Do any of these state employees have half a brain and can't they figure out your not a realtor and do not list or sell property for a commission?

It only takes about a 2 minute conversation with an attorney to figure out what "Equitable Interest" is and how it's defined and used! The problem with government is the right hand does not know what the left hand is doing, there so busy doing there quote "Job" to pull their head out of the south side of a north bound bull! I mean it does not take a rocket scientist to understand or discern the difference in listing / selling real estate and selling your interest in a legal contract!

If it wasn't so damn stupid and such a waste of tax payer dollars, so yes Rando someone ratted you out! We can put some dog crap in a bag and light it on fire on this guys front porch and ring the bell? Or toilet paper his favorite tree? Or wrap his car in shrink wrap? Yes, paybacks are a bitch! Lol

Just a little common sense and a quick phone call and this guy could go pick on someone else found guilty until proven innocent!

So I am off to my little log cabin to chew on venison jerky and tell stories around the old fire and sip a little moonshine!

Good luck,

 
                  GR



 

[Randoskie]

Haha, yea I know someone turned me in, because the licensing bureau has my home address, they can't get that off my ads on CL with the google number, and the dipwad tattle tale that comes to mind is the discrunted bird dog that never showed up to the California labor board hearing last year, or was it the year before?
Because realtors don't know my home address so I don't believe it was one of them.
I think the old bird dog is pissed cuz he's still reading about the deals I've been doing on this site.
I sent him an email with photos of my new airplane and new vehicles and photos of the recent checks that I made 40 grand in one month. That shud really send him over the top. Maybe I shouldn't have, but, hell, it's fun.
I called him a psychotic old has been and if he hadn't been such an a hole I wud of showed him how to wholesale houses, or he cud just buy my new book on Kindle first of next year for $2.99
I hope to become even more successful and wealthy and have many more attacks, that's when I know I have made it.

[utahbrian]

Loved that one, but for general information they used to send a letter, not make a phone call if it was the state. I have gotten several of these calls over the years on ads etc. and most were investors trying to eliminate some competition and agents who were trying to list a property I was interested in. I just used to use my first name and a 800 number, which captures the callers number because your paying for the call. They didn't know who they were calling and just assumed they could play hardball.

The agents hated it when their broker called them into their office, and explained the law to them and that they could find themselves in front of the DRE and The Bar Association, and the guy you tried that on has been a broker and investor since before you were born.

[Randoskie]

The dipwad that called and sent me the letter is from our local RE licensing office, I'm thinking of filing a complaint with the State office in Sacramento. Just because I can be a dipwad too and it cud be fun and satisfying, or maybe I shud let a sleeping dog alone.
But yea, it seems he shud know the law and not to bother wholesalers that are operating legally.

[Randoskie]

California Bureau of Real Estate.                                                                                                                                         1651 Exposition Blvd.                                                                                                                                                Sacramento Ca 95815                                                                                                                                                                   

To whom it may concern.
I have recently been contacted by phone and letter by a Mr. Ernie Ruiz Special Investigator Fresno Enforcement Office that I may be operating illegally by flipping and wholesaling & advertising real estate.
I explained to Mr. Ruiz that he was incorrect that I in fact was operating legally because I get these properties on contract with an earnest deposit which gives me equitable interest and the legal right to buy and sell and advertise any property in the USA without a real estate license.
Mr. Ruiz insisted I prove to him that what I was doing was legal by showing him in the book of California real estate laws and regulations that gave me this right.
Mr. Ruiz’s letter was a demand or request that I present all the deals, escrows and etc. that I had completed so that he may review them to see if I was operating legally. Of course I refused because he has no jurisdiction over me and my dealings and no right to interfere with my legally operated business.
I suggested to Mr. Ruiz he write down the term equitable interest and do some research.
Mr. Ruiz then threatened me with a cease and desist order.
I explained to Mr. Ruiz that he could be liable for harassment to an investor operating legally.
My intention is only for Mr. Ruiz and other ignorant realtors to acknowledge that they are not proficient in real estate law and realize that real estate investors do not need a real estate license.
If you can instruct Mr. Ruiz that he is in error, so that I won’t be bothered by his future phone calls and letters and also to prevent him from harassing other legitimate real estate investors.
 I would greatly appreciate it.
Thank you.
Randy Phillips

[Randoskie]

I just received another letter from the Real Estate licensing office in my city. This time it was from another special investigator in the same office. I immediately sent a return letter telling him where to stick his letters.
I suspect that maybe a certain grouchy homeowner that told me to stop sending him post cards is behind it all. A city employee drove by my house and seen a bandit sign on my front yard that I buy houses and I got a formal letter telling me that was against county ordinances. I made 8 grand off of that sign and hated to remove it.
I also got a letter from the city requesting I get a business license. I removed the sign but told the city to suck pine tree pitch.
The grouchy homeowner wudnt tell me who he was or his address, so he keeps getting my post cards. If I knew who he was I wud probably double up on the post cards to him and send him a package of fresh fertilizer. All future mailings won't have my return address on them.
One of the best things about wholesaling real estate is the minimal amount of government interference.
But, it wud be too boring with out some.
Let's make some Money......

Rando

[Frank C]

I would be a little careful if I were you.

Some years back, I was following the case of a real estate guru, one Joe Kaiser, and he derisively dismissed matters when the authorities got after him, and posting about it. He also claimed he got "equitable interest" in the properties he acquired. The key here is he how got hold of the properties real cheap and what he represented to each owner when he got it so cheaply.

Finally, the Washington State AG banned him from doing any real estate deals in the state, see:

http://www.atg.wa.gov/news/news-releases/pay-time-notorious-foreclosure-rescue-scammer

I don't know all the details of how you do business, compared to Joe Kaiser, or the consumer protection laws as they pertain to real estate sales in CA. Here in NY where I live, I know they finally  passed the "Home Equity theft prevention act" that puts the brakes on various types of creative real estate dealing. But that's another long story.

Click the "Case background" link in the article for more details.

[Randoskie]

Frank C,

The link you included tells the story of some con man targeting foreclosures and stealing elderly people's homes.
As wholesalers, what we do is slightly different.

1 We don't do foreclosures.
2 We negotiate a purchase price with seller and pay for their houses in cash.
3 We don't steal people's houses.
4 We use Title companies, do escrow and title insurance.

Are you familiar with wholesaling real estate, or did you get on the wrong forum?

[Frank C]

Are you familiar with wholesaling real estate, or did you get on the wrong forum?

Rando:

No need for insults, I only urged you to be cautious.

I've been a real estate investor for nearly 40 years and attended REI club meetings, hung around RE websites, studied RE in NYU school of continuing education for just as long, and even got a stinkin license. If I missed real estate wholesaling, I must be blind, stupid, or retarded.

BTW, being in the right forum does not make anyone an expert.

I know the article mentioned had to do with foreclosures, but the bigger issue has to do with "consumer protection laws" which the authorities can twist any way they want, against wholesaling, foreclosures or whatever. I cannot see consumer protection laws only apply to foreclosures, not wholesaling.

Joe's main offense appears to be "misrepresentation" which could exist in any transaction. This often happens where there's seller's remorse, when they found out, true or otherwise, they sold the property too cheap. No where in the complaint was it mentioned he had no license.

Seems like your position as a wholesaler, no laws apply to you, either Real Estate, Consumer Protection or whatever.

You also announced with pride here that you told the authorities where to stuff it. I mentioned in my post I am not an expert on consumer protection laws in CA, and cannot tell how you are in violation. I'm a believer of if there's smoke, there's fire, so if the authorities write you to desist, I would consult an attorney instead of telling them where to stuff it.

I guess Special Investigator Ernie Ruiz to be just as retarded as I am for not visiting the right forum to bone up on wholesaling. With your bad attitude, I can see Investigator Ruiz can come down after you like a ton of bricks and get the last laugh, that is, if he has any pride left in him. 

And if you received notices from someone else in the office, usually, that means to me the original investigator referred the case further up the chain. That happens in code enforcement offices around here when they encounter wise guys.

I can see him saying "Let's go out there and get 'em" with relish.

[Randoskie]

Sorry to get ur panties in a bunch. I have that effect on people. My smart mouth has got me in trouble sometimes and often regret what I say and do. But on the bright side, I've made a ton on money by not taking crap and by jumping in when I shud be more cautious.
My intention was to piss off those real estate bureaucrats and to confront them with the BS they handed me. I'm sure right now they are up to here with their self importance and wud come after me with a vengeance, if only they could.
I won't be needing an Attorney to operate a legal wholesaling business despite threats from these ignorant pencil pushers.
I have never heard of wholesalers stealing properties, a cash offer is made, seller accepts and signs the contract.
I used to be a wallflower afraid of my shadow. that didn't get me anywhere.
Take control, make friends, make enemies, & have fun.
Let's make some Money.....

Rando

[DrewWillDO]

Hey Guys,

Good stuff, thanks for sharing Javipa. Question, when do something like this with seller financing how do you go about getting perspective buyers? Do you try to line them up first?  Thanks again,
Drew.

[javipa]

Hey Guys,

Good stuff, thanks for sharing Javipa. Question, when do something like this with seller financing how do you go about getting perspective buyers? Do you try to line them up first?  Thanks again,
Drew.

Before I had my first house under contract, I was as nervous as a pregnant nun, that I wouldn't find a buyer fast enough, or without having to make giant house payments for several months, while I scraped up a buyer.  And my nightmares came true.

That was before I learned to market a specific house to a specific buyer in real time.  Once I learned to do that, it made no sense to build a buyer pool.  Each house was unique and would appeal to a unique buyer, and lo and behold none of them happened to be on my buyers list.  Notwithstanding, buyers have a short shelf life, and aren't worth collecting.   
========================

I just saw a great example of a terrible 'seller financing' offer on craigslist yesterday. 

The investor (evidently) contracted to sell a listed house on terms, and he had about five different ads saying roughly the same thing about offering 30-year financing with 10% down.  That's fine, but that's not what gets buyer's excited.  The investor left out the exciting things, and assumed his seller financing trumped all that. 

From the feedback I get, buyers are as leery of seller financing offers, as they are of free candy from the guy sitting in the windowless van in front of the school.

So, my offers must appear legit; focused on a specific buyer; and reflect a real deal.  Failure to do these things, and I might as well build a buyer pool.  At least I'll feel more secure as I fail to characterize my houses, and pitch mis-fit buyers.

[DrewWillDO]

Appreciate the advice Javipa