INVESTORS with LICENSES
I know many successful investors that have a Real Estate License and I know investors that are Licensed Attorneys. I think some disclosure is good and it’s not really that big of a deal. Either the Seller accepts your offer or they don’t. If I recall correctly, the LICENSED BUYER adds a line in the special provisions that reads something like this:
The Buyer herein is a licensed Real Estate Agent (or Broker or Attorney) Lic # 1234. Seller is advised that the price offered herein is NOT a reflection of the current market value. Seller understands that the buyer is purchasing this property for the sole intent of profiting from the resale of said property.
Now I want to be clear …I’m NOT an attorney and this is just my recollection of the sentiment of their disclaimer. I’m sure you and/or your attorney can improve on the disclosure above and I advise that you have an attorney look over everything before you use it in the market place.
I’ve even used a disclaimer much like the one above stating:
“I am a professional investor and that the price being offered does not reflect the market value and that I intend to make a profit etc., etc. …because you don’t necessarily need a license to be deemed an expert…and even I can be deemed an expert in property values.
I think we can all agree, tricking people into selling is a bad business model. So let’s just get everything out in the open from the start.
We buy properties and we intend to make a profit doing it!
- We make a profit because we offer fast solutions; fast cash, fast closings etc., etc.
- We are willing to buy properties that have issues.
- We are no different than any other business; we make a profit by solving problems.
- We DID NOT cause those problems.
The problems were there when we showed up; created before our arrival …and those problems are not normally going to go away or get fixed on their own.
In short, if the Seller doesn’t want to sell after reading that disclosure, then their circumstances are not such that they are willing to sell at a wholesale price. The people who are truly distressed, or who have emotionally checked out of a property’s ownership, don’t care if you’re an licensed real estate agent/broker/attorney or Casper the Ghost… they just want a check and they want out…they don’t care!
They’re just glad you’re showing up with a plan.