|Wholesaling Houses....Without A License!!
Do you need a license to wholesale (a.k.a. "flip") properties for quick cash in
real estate. My answer is most definitely "NO".....within the right context.
I'm prompted to inform you about this from what has happened in my own local creative
investor club. In order to always make a long story short one under-educated real estate investor
thought that individuals were participating in illegal activities since they did not actually own
title to these houses---gasp!!
The idea of wholesaling houses for quick cash is most definitely ethical AND legal
within certain parameters. The above mentioned individual just needed to be more eloquently educated!
It all boils down to this......can someone sell a property they don't actually hold title
to in their name? I can't stand on a chair and light my hair on fire yelling at the top of my lungs
enough to state "YES"! The issue with some will lie with a person being "licensed"
as a Realtor versus a creative real estate investor.
Agents work off a commission basis with legal guidelines for pursuing the BROKERING of
sale between the buyer and seller. The creative real estate investor has an opportunity to profit
and "speculate" on a real estate transaction under the true and correct context.
The creative real estate investor MUST have a legally vested interest in a property. This
legally vested interest is evidenced by signed contracts AND monetary consideration binding
I personally wholesale properties by agreeing to terms, price and closing cost
stipulations with a seller AND a buyer. In addition I ALWAYS have monetary consideration involved
with my seller and I always collect monetary consideration from the buyer I'm wholesaling the
Quite frankly I just do not pay earnest money considerations to my sellers. With the
amount of offers and deals I have tied up that would be substantial. I still must have monetary
consideration which my attorney holds in escrow.
That same $100 amount has wholesaled many, many deals for me. If proof of earnest money
is requested by my seller, then my attorney is happy to draft a letter stating that it is held in
escrow. It just is not a problem with me because I work ONLY with truly motivated sellers.
Let me also be very candid here that wholesaling propeties has also been severely
abused in the creative real estate community. I have seen first hand individuals that have accepted
earnest money deposits from their wholesale buyers and then never actually faciliated the closing!
Unfortunatley this is the real world and that does happen.
My emphasis for you here is just to know that wholesaling is an absolutely 100% ethical
and legal way to make significant cash in real estate. Follow the right guidelines in pursuing deals
with written and signed contracts along with monetary consideration and you too can reap these
creative real estate benefits.
For the entire scoop on the process check out
"Instant Cash Wholesaling Houses!"
guaranteed to get you on the fast track to flippig houses for quick cash.
Take a quick check of your marketing program and tune it up if needed so you too can,
"Find All The Motivated Sellers You
Scott Rister is an author and "real world" investor just like yourself.
Scott started investing in real estate over seven years ago for the sole reason so many do which
is to supplement income and eventually replace the corporate job. After learning first hand what
"down-sizing" in the corporate world means, Scott focused more intently on shifting from
emphasis from buying techniques to finding truly motivated sellers. In less than a year Scott has been
involved with over 60 real estate transactions that ended up with a check with his name on it. You can
learn more about his program at
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