Wholesaling in Minnesota is Illegal ?
So i've met a real Estate broker here in MN who owns a real estate company in Woodbury, and i was told that Wholesaling in Real Estate in Minnesota is illegal and i can get finned, can trialed. I'm a Junior in college and looking to do some real estate on the side, and i thought about doing wholesaling until this news came up to me. My question is is anyone doing Wholesaling in Minnesota ?
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I think you got bad information. I have been involved in the real estate market in MN for 14 years and I know of no law that makes wholesaling illegal. The broker is likely confusing some of the closing tactics that could be structured legally or illegally. I believe the act of wholesaling is not the issue it is how it's done that can be illegal in some cases. I recommend you do more research and look to a real estate investment club for ways to do it correctly.