All Forum Posts by: Richard Clark

I appreciate all of the commentary and advice to my question(s). And I didn't intend to start a debate, although it was somewhat enlightening. What I think I have discovered, so far, is 1) in Georgia, it is perfectly legal to wholesale without a license; 2) for many if not most properties it is best to have buyers lined up in advance; although for an exceptional deal, it may not be necessary (incidentally, I do have a short buyers list already and plan to expand it; and 3) those buyers and/or a hard money lender can provide POF if needed, although in a FSBO with no listing agent POF may not be necessary. I will keep researching, studying, and learning, and will tread lightly. Thanks again for all the responses.

My understanding was that the wholesaler would put the property under contract in “[his name] and/or assigns” and then shop the property to his buyer’s list. As I said, if I had the funds myself, I would just buy and flip the property myself and not wholesale it.

When a wholesaler puts a property under funds, do they have to have proof of funds? How can they if they don't know who from their buyer's list (if anyone) will purchase the property. (If I had the funds, I'd just buy the property myself.) Do REO/foreclosures require POF? If so, am I then precluded from putting these properties under contract while I offer it to my buyer's list? I appreciate everyone's help.

Thanks @Josh Caldwell for the advice. I really appreciate it!

Thanks for the advice!

Hi! My name is Richard and I am looking to get into wholesaling as a way to bootstrap my investing business. I have a question: when I make an offer on a property with an assign, should I be having an agent put in that offer on my behalf? I appreciate any advice.