I am a new investor and new to this site. I have not figured out how to use the search so I apologize if this question has been addressed before. A couple questions
I was told by a Realtor that it is illegal in Nevada to sell a contract to another buyer. Is there anyone here that can enlighten me on this as to where I can find out for sure before I start and get into something I can't get out of.
I was also told by the same Realtor that Sandwich leasing is illegal in Nevada.
Any sources that you know of that I can get good information on this would be helpful. I am having a hard time believing that Wholesaling is not going on here.
Real Estate Agent Utah (#8955237-SAOO)
When told something is illegal, ask for a reference to the specific statue.
Wholesaling is, for all intents and purposes, unlicensed brokering. You assign a contract, double close, buy in an LLC and sell the LLC or some other technique that makes you a principal to the deal, but the basic idea is you find a buyer, find a seller, put them together and collect a fee. Same job as a real estate agent.
Most realtors are idiots when it comes to investing. I would find a real estate investment club or call some of the "I buy houses" people and ask them.
I don't see how selling your contract could be illegal or subleasing for that matter either.