Posted by Les on February 29, 2008 at 12:02:34:
I think you may run into trouble if it is found out that you partnered up with someone to bypass any laws that were put in to place to protect homeowners that is why you are a consultant (conflict of interest) and I’m not an attorney, just my thought. For example if homeowner says they were taken advantage of and an investigation happens the consultant would be in hot water. The following site may have some info Maryland Department of Labor.
SHORT SALES (CONSULTANT & BUYER) - Posted by James Blackwell
Posted by James Blackwell on February 29, 2008 at 09:22:39:
I`m a wholesaler from the state of maryland, and I would like to get some clearity on being a consultant and/or buyer.
If you are a short sales consultant, can you be the buyer as well? I was told that you cannot be the buyer if you are the consultant. Maryland have some strict rules when it comes to approaching homeowners, I just want to make sure that I have the right information correct.
What role would I have to play if I wanted to invest in short sales as a buyer, also as a consultant looking for a buyer, what would be the best exit strategy when the bank excepts my offer?
James
Re: SHORT SALES (CONSULTANT & BUYER) - Posted by michaela-CA
Posted by michaela-CA on February 29, 2008 at 09:29:34:
just curious, as I’m not interested in the pre-foreclosure deals. Wouldn’t it be possible for 2 people to kind of have a partnership (ok, that’s the part that would be the deal-breaker for me as I don’t like partnerships anyway), but each one having their own company and each one approaching different people as ‘consultant’ and then the other taking over as buyer. And in the end they will share the profit on all of their deals.
Just wondering, if that’s an option
Michaela