Wholesaling in Illinois

2 Replies

Hello BP,

Since I am an investor what type of contract do I need to sell a house connecting a wholesaler with a buyer?  I am seeking a mentor in the Aurora area that does wholesale real estate.  Thank you in advance for your insights.

For IL just use the regular one, multiboard 6.1 and add an addendum, or an assignment clause.

BUT, I would hate to see you go down this wholesaling path.  Everyone that is starting out does (including myself), and it never ends well.  I know you're not asking for this advice, sorry.

You should really figure out what type of investing that you really want to do (rentals, flipping, wholesaling, commercial, vacation rentals, etc).  Once you figure that out, then scrap everything else and only FOCUS on that 1 thing.  Don't worry about all the rest.  Seriously.  Do this.

http://chicagorealtor.com/wp-content/uploads/2016/02/Multi-Board-6.1-Contract.pdf

Hello Scott,

Thank you so much for your insight.

Since I have no money to invest at this time, I have been told wholesaling is the best way to start real estate investing.  Do you have any suggestions?

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