Oklahoma Proposes Legislation Against Wholesaling!

[Jeff Filali]

Oklahoma Proposes Legislation Against Wholesaling!

This passed the sub-committee unanimously by 7-0 vote, and now would move on to be voted on.

Oklahoma HB 3104

This act shall be known and may be cited as the "Predatory Real Estate Wholesaler Prohibition Act".

Read the bill: CLICK HERE

[Jeff Filali]

Originally posted by @Don Konipol:

@Jeff Filali

Licensed real estate brokers have been clambering for this for years. Guess the number of incompetent wanna be wholesalers has increased to the point where even relatively free market supporting state legislatures are considering acting against free market interests.

Yes, it’s getting out of control throughout the nation.  Way too many gurus teaching newbies unethical & shady tactics.  I get contacted multiple times a day by wholesalers with deals priced way too high because they offer whatever it takes to get it under contract with zero intent or ability to ever close, if they can’t “broker a deal”, they just walk away leaving homeowners in even worse position. Then you have all the daisy-chainers who don’t even have the property under contract.  It’s makes it harder for the rest of us legitimate investors to do deals. There are some well intended, and ethical wholesalers out there, but the bad ones are starting to far outweigh the good ones.