All Forum Posts by: Jerry Stanford
Jerry Stanford has started 21 posts and replied 447 times.
Post: Newbie from Metro Detroit (Ferndale / Hazel Park)
- Chicago, IL
- Posts 469
- Votes 81
Welcome to BP @Judy T.!!
Post: 22 YR OLD NEW MEMBER FROM CHICAGO
- Chicago, IL
- Posts 469
- Votes 81
Welcome to BP @Daniel Ibarra
Post: Real Estate Professional From Illinois
- Chicago, IL
- Posts 469
- Votes 81
Welcome @Reena Rapp!!
Post: New to Real Estate Investing From Chicago
- Chicago, IL
- Posts 469
- Votes 81
Welcome @Debo Ijiwola!!
Post: Sustainability Consultant from Chicago
- Chicago, IL
- Posts 469
- Votes 81
Welcome @Beau Garrett...sounds like a very interesting career...
Thanx for the info @Chad Michaels
Post: Is wholesaling legal in Illinois? (Chicago Suburbs)
- Chicago, IL
- Posts 469
- Votes 81
@Dale Stevens makes a very good point...it is truly a tap dance. While there is no cut and dry law that says "Wholesaling is Illegal in IL", there is a very thin and transparent line. Much is subject to interpretation and as Dale noted if you get a judge that's pretty cut and dry then all hell may break loose. In my mind it's your intent vs your right. You have to right to contract to purchase a property and the right to assign the right to purchase to someone else. Whether or not your intent to sell to an end buyer all along makes you a broker/agent for the buyer or not is very murky water and caution should be taken. If you are not a broker, my suggestion is to find a good RE investor friendly attorney that can look over what you are doing and let you know if there are some possible potholes or red flags.
Post: Looking to expand & diversify
- Chicago, IL
- Posts 469
- Votes 81
Welcome to BP @Ivan Lai and congrats!!
Post: New Member from Downtown Chicago
- Chicago, IL
- Posts 469
- Votes 81
Welcome @Dimitri Tsiribas!!
Post: Chicago Investors Meetup
- Chicago, IL
- Posts 469
- Votes 81
Definitely looking forward to it @Brie Schmidt...Thanx!!