Wholesale Exit Clauses for Those Who Have No LLC

[Khenan Newton]

Hey guys,

I don't have the money to be constantly buying LLCs for every offer I put on a house through a realtor. My mentor (who does lots of wholesale deals through realtors) made it clear to me that I need to be sure to have a lot of exit clauses on my contract that will serve protect my assets/liabilities (my home, car, etc) in the event that I get sued. That being said, my mentor is busy and can't help me revise my contract right now.

Could any of you guys point me in the right direction in regards to these clauses?

Do you know about the clauses he's talking about?

Do you assign contracts through your personal name yourself and use them?

Please, let me know.

Thanks.

[Nick C.]

This is truly awful advice you've been given. Instead of lying to realtors, using bogus weasel clauses, and wasting time and money on asset protection, find a mentor that can show you how to source deals. That should be the first, second, and third priority of a wholesaler. Find a good deal and you won't need to weasel out of it, perform on the contract you sign, and you won't piss anyone off to get sued.