New to real Estate, is wholesaling bad in Illinois?

[Evan Alexakos]

I've been trying to save money to get into real estate and previously did much research on wholesaling; however, when I attended a meetup in Chicago for real estate. I was told that it was illegal and that, in most cases, to be a wholesaler is to be a scammer. That the practice is shady and can hurt the seller of the home. I do not post looking to offend; I am genuinely interested in finding a way to join the real estate business, though I am too low on funds for most other methods. Was that meeting just people being rude to a new investor? Is there a wrong way of wholesaling? How can I get started and do so properly? 

[Izaiah Barba]

Hey Evan, totally fair question and you’re not alone in hearing stuff like that. Wholesaling can be done wrong, but it’s not inherently shady if you’re upfront and doing things the right way. Illinois does have strict rules though. You need a license if you’re marketing more than one property a year unless you’re the principal in the deal. Best way to get started legally is to either get your license or partner with someone who’s licensed and knows the local game. And always make sure you’re transparent with sellers on what you're doing, it builds long-term trust and keeps you out of trouble.