Realtors with wholesaling experience in Kentucky?

9 Replies

I am curious as to the legality of wholesaling in Kentucky. Is it legal and do I need a business license in order to not run into any legal trouble? Also I would love to chat with anyone who has wholesaling/real estate investing experience in Kentucky. Realtors I have talked to seem to be squeamish about wholesaling. They were older so I guess that plays part in their responses. Any help would be great thank you! 

Harry Borders is a great resource. I work with a lot of wholesalers. Lots of ways to do it within legal parameters. 

@Chase Luckett wholesaling is legal in KY if done the right way. As long as you have the property under contract and make it clear that you are marketing an "assignable contract", you will be golden. Just don't be like some of these guys around here who are just trying to market other people's deals or they are trying to market properties off the MLS. That will get you shut down pretty quick by the real estate commission. Also, in my experience, traditional residential realtors, who are not investors themselves, tent to not like wholesalers.

Originally posted by @Stan Holmes :

@Chase Luckett I really have not looked into wholesaling here in Kentucky. I think the first place to start that conversation is with a Attorney. They should be able to answer that question better for us.

Thank you for the information!  

Originally posted by @Kevin Hart :

@Chase Luckett wholesaling is legal in KY if done the right way. As long as you have the property under contract and make it clear that you are marketing an "assignable contract", you will be golden. Just don't be like some of these guys around here who are just trying to market other people's deals or they are trying to market properties off the MLS. That will get you shut down pretty quick by the real estate commission. Also, in my experience, traditional residential realtors, who are not investors themselves, tent to not like wholesalers.

I understand better now! That also makes sense why traditional residential realtors wouldn't like wholesalers. Thank you for the information. 

Originally posted by @Chase Luckett :
Originally posted by @Rob Bergeron:

Harry Borders is a great resource. I work with a lot of wholesalers. Lots of ways to do it within legal parameters. 

I have reached out to him. How do you help wholesalers?  

I have a site called The Louisville Network for wholesalers to send out their assignable contracts.

 

Originally posted by @Rob Bergeron :
Originally posted by @Chase Luckett:
Originally posted by @Rob Bergeron:

Harry Borders is a great resource. I work with a lot of wholesalers. Lots of ways to do it within legal parameters. 

I have reached out to him. How do you help wholesalers?  

I have a site called The Louisville Network for wholesalers to send out their assignable contracts.

 Awesome, I am looking into it along with bookmarking it now. 

 

Yes. I'd reach out to a real estate attorney there. You should be able to call the office and ask. That would also be a great way to find an attorney who knows what wholesaling is, and you can use them for your closings. 

Or, look up real estate meet ups in your area, and attend one. Investors there should be able to answer your questions.