Illinois Wholesaling houses

[David Kors]

I'm really confused about the wholesaling law in illinois. I just can't find a good answer. I'm planning on wholesaling a property and I just can't figure out what separates me from a broker? What would make a wholesale deal illegal? Where do I get purchase and sales and asignment contract? After getting a property under contract can I advertise that property on craigslist, zillow, backpacks etc.?

[Paul Amegatcher]

@David Kors

Check out the BiggerPockets file place for contracts:

https://www.biggerpockets.com/files

To answer your question in regards to wholesaling.  You as a wholesaler are marketing a contract for sale and not the property.  You have to be careful on how and where you market the property.  I would not use zillow.  What you can do is post on craigslist and other sites.  You should not list the property address in your post.  Your craigslist ad could be something as like this:

Investors make $40K gross profit on this Hoffman Estates flip.  Selling my equitable interest in a 3bd/2bt/2 in Hoffman Estates. Call or Text me for details.

A simple ad like that will generate enough interest if you are in a desirable neighborhood.  Talk to a real estate attorney in you area to see what you can and cannot say in your ad.  Good luck.

Paul Amegatcher