Licesed agent flipping REOs for a fee

Bird Dogs, Wholesaling
1

Hi guys, I have a question for a licensed agent who is also an wholesale investor.
How do you get involved in flipping reo properties for a fee being the owner of an LLC and at the same time holding a re license?

2

Hi,

Disclosure, Disclosure, Disclosure, Disclosure, Disclosure! You have to make disclosure when you buy and when you sell!

IE:

  1. I am a licensed real estate agent buying this property as a private party and I am not representing myself or recieving a commission!

  2. I am a licensed real estate agent buying this property as a private party and I am representing myself and I am recieving a commission!

  3. I am a licensed real estate agent buying this property as a private party and I am represented by another licensed agent from the same real estate agency I work for!

  4. I am a licensed real estate agent buying this property as a private party and I am represented by another licensed agent from a different real estate agency than I work for!

  5. I am a licensed real estate agent buying this property as a private party and I am represented by another licensed agent from the same real estate agency I work for and I am recieving 50% of the buyers brokerage fee!

  6. I am a licensed real estate agent selling this property as a private party and I am selling myself as a private party and I am not recieving a commission from close of escrow for this sale!

  7. I am a licensed real estate agent selling this property as a private party and I am representing myself as a licensed agent and I am recieving a commission from close of escrow for this sale!

  8. I am a licensed real estate agent selling this property as a private party and I am represented by an agent who works for the same agency I work for who is recieving a commission, however I am not recieving a commission from close of escrow for this sale!

  9. I am a licensed real estate agent selling this property as a private party and I am represented by an agent who works for the same agency I work for who is recieving a split commission and I am recieving a 50% listing commission from close of escrow for this sale!
    10.I am a licensed real estate agent selling this property as a private party and I am represented by an agent who works for a different agency than I work for who is recieving a commission, however I am not recieving a commission from close of escrow for this sale!

Talk to your broker, tell him what your doing and why, then ask exactly how he want’s your discosure’s worded and each of these disclosures must be in writing depending on which applies and where! By the way if your in need of an agent to represent you from time to time ask your broker if he would prefer you use “In Agency” or find someone outside of your existing real estate agency as depending on state laws and liabilities will base your brokers decision!

                               GR
3

I understand. But how do you word it also as an owner of an LLC?

4

Hi,

Your purchase method, financing (Requires proof of funds) and corporate entity do not require disclosure!

If your making the purchase as “The Investor Guy LLC” then you write this in the buyer or seller space of the contract!

However you, Mr. John Hancock must disclose that “I Mr. John Hancock and I am a Licensed Real Estate Agent with Declaration of Independance Realty”!

And I Am???

Talk To Your Broker!!!

             GR