An Alternate Strategy To Real Estate Wholesaling

An Alternate Strategy To Real Estate Wholesaling

Hey there, fellow adventurers! Strap on your boots and get ready to explore the secrets of the South Carolina real estate code. In this exciting episode of our podcast, I had the pleasure of sitting down with the remarkable Gary Pickren, a real estate attorney with a treasure trove of experience in the industry. Our conversation was a rollercoaster ride, filled with valuable insights and cautionary tales that every aspiring real estate agent should hear. So, grab a cup of coffee, settle in, and let's dive into the fascinating world of real estate law!

Picture this: a young Gary Pickren, wide-eyed and full of ambition, dreaming of a career in real estate law. Little did he know that this passion would lead him down a path of adventure, defending real estate agents and mastering the South Carolina code 40-57. This legal wizardry not only allowed him to teach classes and represent brokerages, but also defend real estate agents before the commission itself. Now that's what I call a real estate superhero!

During our conversation, Gary shared some of the major mistakes he's encountered during his illustrious career. We're talking about agents practicing without a valid license, neglecting to obtain proper agency agreements, and giving incorrect advice that would make even Pinocchio blush. It's surprising how easily these pitfalls can be avoided with a little knowledge and care. Remember, my friends, a solid foundation of legal understanding is key to staying out of trouble.

But wait, the plot thickens! I asked Gary about his transition from defending agents to working for the commission. Could this be a conflict of interest? Fear not, my fellow adventurers, for Gary's mission was to be a guiding light, not a punisher. Instead of wielding a hammer of justice, he focused on education and training, closing legal loopholes, and offering programs and classes to empower agents with the knowledge they need. With Gary on their side, agents could navigate the treacherous waters of real estate with confidence.

Now, here's a twist worthy of a Hollywood blockbuster! I asked Gary if he still represents agents, and he revealed a surprising truth. Representing agents while working for the commission would indeed create a conflict of interest. So, he graciously refers them to his trusted colleagues who possess a deep understanding of the law and can provide the proper legal representation. Talk about a class act!

But wait, there's more! Our adventure took us deeper into the realm of real estate wholesaling. You see, wholesalers play a risky game, attempting to operate without a license and often falling into the clutches of cease and desist orders. South Carolina has seen its fair share of these orders, leaving wholesalers scrambling for solutions. Some try to hire licensed agents, while others go as far as obtaining a license themselves. But the challenges don't stop there, my friends. Becoming a licensed agent comes with a low pass rate and potential conflicts of interest when flipping properties.

Fear not, dear readers, for Gary and his fellow investors embarked on a quest for an alternative solution. They sought the wisdom of lawyers, real estate commissioners, and title insurance company lawyers, all in the pursuit of a legal and ethical approach to wholesaling. And lo and behold, they discovered the "installment method"! No, it's not a new theme park ride, but a clever way to conduct wholesale-like transactions without stepping on legal landmines.

The installment method, my friends, is an age-old strategy used to assist buyers with bad credit or limited income. By creating installment contracts with sellers, buyers can establish equitable ownership, build a payment history, and unlock doors to financing and refinancing. It's a win-win situation that keeps both buyers and sellers smiling.

Gary emphasized the importance of reliable information in the real estate industry. Don't just trust any old pirate you meet on the high seas of real estate; seek wisdom from experienced professionals who understand the legal intricacies. The installment method was born from in-depth legal analysis and discussions with experts from different states. It's a proven and reliable approach that could save wholesalers from the wrath of legal consequences.

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Don't forget to reach out to Gary Pickren:
Facebook: https://www.facebook.com/gary.pickren/
Instagram: https://www.instagram.com/pickrengary/?hl=en
Website: https://www.blaircato.com/gary-pickren/
Twitter: https://twitter.com/blaircatolaw?lang=en

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