Wholesaling in MA and/or RI

[Steph C.]

Hi BP,

I just had a discussion about wholesaling with a friend here locally and a recent thread on BP had me thinking of a few more questions.  In speaking to friends in the Boston area that are are getting outbid or priced out of the market, some are reverting from rehabs back to primarily wholesaling to generate quick cash.  The ever-present question of "Is it legal to wholesale in my market?" came up yet again. :-)

For those wholesaling in MA: Are you only doing back to back closings or are you assigning contracts (or a combo of both)? Another BP thread mentioned about it being "illegal" to assign in MA or is it just a bit trickier, since we use attorneys to close?

For those wholesaling in RI: Are you only doing back to back closings or are you assigning contracts (or a combo of both)? Have you moved your investing to RI from CT or MA or have you always wholesaled in this market?

I have talked to local investors who are moving their investing from MA to RI, as many houses are more affordable in RI (and the cash flow for rentals can be better).  That being said, I know that wholesaling is a different game than landlording.

Thanks in advance,

Steph

[Nick Katsikis]

As a buy and hold investor, do not hesitate to reach out to me with multi fam deals on the south shore of MA