Updated over 8 years ago on . Most recent reply
Florida INVESTORS help
This is to all new to me , I love the aspects of investing Im real estate. But i just dont know where to start. I have people on BP telling me that its illegal to wholesale house in Fl. Now my question is for you EXPERIENCE REI , what was your frist deal? And how did you close it? And what type of deal was it ? I appreciate all the replys!
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Hi @Jarett Echevarria .
Florida has some of the most strict laws against contract assignment wholesaling. You can always put a property under contract, close on it, then resell it. That is not against the law.
My first deal was a live in flip. I bought an ugly condo, fixed it up while I lived in it, then sold it for 50% more than I paid for it. I lived in it for 4 years, so I paid $0 in capital gains. I like keeping my money in my pocket...
