Clark Fork, ID · Member since 2017 · 7 posts · 1 vote
Before I get into wholesaling, I need to know the rules. Is there a limit to how many I can flip per year? Am I only allowed to do so many before being seen as a business and needing to get some sort of license? I keep hearing about people doing like 50+ a year, but they never mention getting in trouble for it or needing anything special. I'll strictly be dealing with assigning contracts. Someone please enlighten me on what to expect so I can get a plan laid out.
Winter Garden, FL · Member since 2017 · 56 posts · 37 votes
9y
I have been doing wholesaling for 17 years now and the key is to have 'equitable interest' in a deal meaning you have to have a contract with the owner on the property. Also I am a license agent which allows me to market other investors properties that I don't have a contract on, but they do. You can do as many of these as you want.
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
9y
You need to know your state laws and know what is legal and what is not legal. FL is closing the door on most unlicensed brokers. Your state laws will be completely different. They may or may not have an issue with unlicensed brokers.