Good afternoon group!
I'm currently residing in California and still working towards my first deal. I understand the benefits of having a license while wholesaling homes however, i'm having trouble getting good info on wholesaling rules and regulations in the state of Illinois. I completely understand the content of the video posted i'd just like other opinions before choosing the direction that i need to be going in. Next move has to be calculated and i'd really appreciate feedback from anyone knowledgeable on this topic.
Does anyone think the wholesaling rules and regulations will eventually be updated for all other states?
The state of California requires all individuals to complete 130 hours of pre-requisites before taking the actual exam
Real Estate Principles
Real Estate Finance
Real Estate Practice
Thanks for your time and good luck on your endeavors!
Illinois just passed a new law that basically requires anyone doing more than 1 wholesale day per year to be a licensed broker. Your post was a little confusing, so I'm not sure if you're going to wholesale in Illinois. You probably won't find any "wholesale" laws because it's technically not a real thing in real estate. The rules typically govern who can and cannot market a property. If you're interested in getting licensed in Illinois, I'm sure a quick google search would do the trick, but if you haven't started yet, it might be best to try it in a state that doesn't require you to get licensed. If you're looking for more info on the other states, you might be better off picking a state or two and then looking rather than asking for info on all 50 states at once.