Wholesaling, Legal or Illegal in Florida?
My wife and I are new to this whole REI thing and are learning as we go. We have started to look into wholesaling and have seen many success stories and advice on how to complete the process from start to finish. The problem is that I am starting to see quite a few articles and posts from people saying that wholesaling is "illegal if you're not a licensed broker". How is this possible when there are so many people that have been successful in wholesaling, create videos on YouTube, post on BP and write books about the subject and never say anything about the practice being "illegal"? If the purchase contract clearly states that I may assign the contract and the assignment contract states that I am assigning the contract, why would it be illegal? I am a police officer and definitely can NOT take a chance of doing something illegal. I have an appointment later in the week with my real estate attorney to get the final word, but I would like to hear some thoughts from the BP crowd. We are in Florida and I know laws differ from state to state.