Wholesaling - Legal or Not? An Attorney's Perspective

[Heather Angelo]

First, I'm a newbie and lately I've been stalled due to the ongoing conversation/discussion on whether or not wholesaling is legal.  There have been a plethora of opinions and heated discussions surrounding this topic, which unfortunately leaves newbies like me at a standstill.  

That said, I found this really great article, written by an attorney, and I thought I'd share.  

http://www.legalwiz.com/license-to-wholesale-prope...

Do You Need a License to Wholesale Properties?

by Attorney William Bronchick

You buy a property, you wholesale it, you profit. Do you need a license to wholesale properties? In most cases, the answer is

[Christopher Brainard]

Originally posted by @Heather Angelo:

First, I'm a newbie and lately I've been stalled due to the ongoing conversation/discussion on whether or not wholesaling is legal.  There have been a plethora of opinions and heated discussions surrounding this topic, which unfortunately leaves newbies like me at a standstill.  

Odd, when I do a search for this case, I come up with this article...

https://casetext.com/case/xarin-real-estate-v-gamb...

Unless I'm reading this incorrectly, in Appeals Court, Xarin Real Estate lost the case and was required to pay out $257,000.00. Additionally, using a case in Texas by a lawyer in Colorado in an attempt to justify wholesaling in Ohio is not a good legal opinion. Additionally, when I do a search for this attorney, he apparently fancies himself a real estate guru.

I really wish people would quit posting stuff like this - it is really misleading and clearly no research is done what so ever on the original article prior to posting.

-Christopher