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Jeff Watson is a licensed attorney in the state of Ohio and has been a real estate investor since 1994. He considers himself a part-time real estate investor, and a full-time attorney. He invests in both residential and commercial properties and legally represents other investors when it comes to residential and commercial matters. He has also co-created some of the documents thousands of investors use in their businesses, particularly on regulatory concerns with wholesaling, making him an authority on the subject.

Today, Jeff gives us the cold truth regarding how to wholesale and how not to wholesale. He explains the various do’s and don’ts, the mistakes most investors make, and the possible penalties if you are caught doing things illegally. He also gives genuine tips when it comes to proper wholesaling as well as tips on what to do if someone from the local board gives you a call.

“If you’re in this business for the long run, your reputation matters more than one or two or a dozen deals.’” – Jeff Watson

On Today’s Episode of Flip Talk:

  • The biggest mistake wholesalers make.
  • The statistics that back the success rate of the “follow-up.”
  • Pet peeves regulators have with wholesalers.
  • Why the acquisitions person is actually your employee.
  • When should you get a Subchapter S?
  • The problems with hiring dispositions people.
  • His thoughts on the argument of equitable interest.
  • When he thinks the next crash will happen.
  • Some of the right ways to wholesale.

Jeff Watson’s Tips for Getting into Real Estate Investing:

  • It would be far smarter for your acquisitions people to be licensed agents who work as independent contractors, allowing them to not be employees.
  • Explain how you are adding value to the property or the transaction. If you can’t explain that, you’re a piranha, not a problem solver.
  • It’s better to mail fifty people ten times than mail five hundred people once.

Resources Mentioned:

Reach Out to Jeff Watson:

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Join us every Wednesday for a brand-new episode of the Flip Talk podcast. Flip Talk is your show to learn all about the ins, outs, and in-betweens on real estate investing and house flipping. Email your questions to Topics [at] FlipTalk [dot] com. Subscribe to the show and share your thoughts by leaving us a review on iTunes, Facebook, or visit our website.