When you stop and add up all the expenses of getting licensed and set up to do real estate you realize our career choice is pretty expensive to stay in the game yet there is a never ending line of clients asking us to give up everything we have worked for so we can score a small commission. Latest in the line was a person who called to let me know they had ran into a large sum of money and wanted to invest it without raising any flags (which was the first red flag). When I questioned why they went on to explain they had ran into a large sum of money (perfectly honest they promised) and wanted to invest it without paying tax on it. They went on to explain they were the only working people within a mile of their house and were sick of their neighbors watching them leave for work every morning and then enjoying life till the next government payday.
One would think a cash buyer is a good thing but I don't think the $5K I would make in commissions is worth risking my career or worse yet my freedom. When we think of cash buyer we think of a client who has the ability to write a check for the parcel not someone with actual cash. That made my over active brain start thinking about how hard it would be to purchase "under the radar" so to speak. Title companies will not take large sums of cash so they are out. Banks report large deposits and even lower amounts when trying to purchase cashier's checks so they are out. You couldn't even use it as a down payment as most banks require "seasoned funds" so that isn't going to work. While I sympathize with their tax pains and would love to help them spend it I will not be party to actually helping them avoid paying their taxes.
Makes me think of how many times through the years I have been basically asked to put my license on the line for someones quick dollar. Next time I think I will ask them if they would give up the job they love for a couple thousand dollars. Bet there are not many takers. How much is your career worth to you?
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