My mother and I are looking to begin a career in real estate investing. We want to start out using wholesaling as a catalyst to bring in more capital to fund other avenues. While we have been doing our due diligance researching various topics about wholesaling and ways to do deals, there are still things we need to learn.
1. Are there license that are required to wholesale in the state of Alabama
2. I am confused on the steps of using double escrow to close an accont
3. Are there any real estate groups in the area so I can begin to grow my newtwork.
You will need to have a real estate license if you bring buyers and sellers together. I think the loophole is in the double closing since you would basically be buying the property for yourself and then selling the property for yourself (simultaneously). Talk to a local closing company and tell them what you are planning and they can tell you how it works.
Not sure about any RE groups in Enterprise.
Let me know if you find a good deal in the Montgomery area, I pay cash for a flip project and I will be needing one in 60 days or so to 1031 my current flip.
@Greg Parker Thank you for your insight. I will be on the look out for any good deals to send your way.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.