myEmpirePROQuestion: “Do You Need A LICENSE Or Any CERTIFICATION To WHOLESALE HOUSES?”
No you don’t.
For the most part, you don’t but if you remember earlier,
I mentioned when I was answering a question about, How do you legally wholesale a house.
Well, Wholesale is legal so the question is invalid, but let’s help you.
So let’s talk about this, do you need a license or certification to wholesale houses?
No.
However if you are going to do more than one house,
…there may be states out there that will require you to get a license.
That’s not a big deal.
Why don’t you close your first deal first to find out?
Close your “First Deal” and then you’ll know if you need it.
After closing your first deal you’ll say “hey do I need a license” because again,
like I said I know Illinois for a fact you can close at least one deal.
After that one deal you are required.
It’s just a regulation it doesn’t mean they make it illegal it’s regulation,
…you are required to be licensed to do more than one deal.
But instead of getting licensed, you can have a person that’s licensed on your team as you should anyway.
I have a person that’s licensed on my team.
I used to be licensed but I am not licensed anymore.
It’s not worth my time.
I don’t wanna give money away for no reason to the agencies.
There’s somebody that that’s what they do and they understand the wholesale and investing game.
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They are useful for me.
If i need a realtor or anything like that,
…I just say “Hey you get on the deal, I’ll give you commissions, you’re the agent on the deal.”
And they are open to answering any questions respectively.
It’s just easy work for them, they don’t have to facilitate the deal but they are the official agent on the deal.
And no, there is nothing behind them.
They know what’s going on, they just don’t have to do the work.
So again it’s a non-issue.
You don’t have to be licensed and be certified.
In some states, after you do one deal which means “hey you have one thing to do now”.
After you close your one deal, they may require you to be licensed or require a licensed agent on the deal,
No one can stop you from doing deals.
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Again that’s another reason why you need cash buyers so that you can make sure that you know,
…cash buyers are open to the idea of paying you a finder’s fee as opposed to paying you from the deal.
They are just paying you a finder’s fee.
There is nothing illegal about paying you a finder’s fee on the side, outside of the transaction.
They will do the deal, they will close the deal, one transaction and pay you the finder’s fee.
The point I’m making in all this is that, there are ways around.
There are legal ways around doing deals, if you are finding deals.
If you are not finding deals, you are already operating an illegal business, because you don’t bring in profit.
It’s actually a sin to humanity when you are running a business that doesn’t bring in profit.
But when you run a business that actually finds deals that actually bring value to these investors, you will make money.
Don’t worry about being legal.
All I ask you is:
- Don’t Steal.
- Don’t Cheat.
- Don’t Lie.
- Don’t take advantage of the vulnerable, the old, the sick, the children, women.
Don’t take advantage of anything that seems vulnerable or that you feel like you can take advantage of,
…don’t do it because they’ll come back and bite you.
Just be out here and give value.
Focus on giving value.
Ask yourself what problem am I solving?
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If you can’t answer that question, keep asking questions because you are probably missing something about the business.
What problem am I solving, more importantly for other people.
When you run around town looking to file LLCs, looking for contracts to protect yourself,
…really you are not solving problems for anybody.
You are just busy protecting yourself and you are not bringing in profit and it’s a sin.
Learn how to find deals and close deals, as you do more and more of it,
yes you should protect that business.
But then you have a business to protect as opposed to the other way around.