I am a new investor and haven’t made a deal yet. I am looking for a title company to work with and had a meeting with one today. He was asking me about what kind of rei do I wanna do, so I told him wholesaling for right now. Plan is to branch off into bigger and better things! So here is my question, is it legal to perform wholesaling deals without a realtors license? Where can I go to look up this information? I have been doing a home course, and no where in this course does it state anything about needing a realtors license, and no where in any other sources of information I have looked does it state anything about needing a realtors license to find, and execute a wholesale deal. If someone could please help, that would be great.
You don’t need a license to wholesale. Good luck!
I didn’t think I did, I think this guy was more of a rock in the road then a help. I have more meetings with other title companies so I will see what they say. I’m military though, so I have a bad habit of wanting to find out more information to prove someone wrong when I’m told something otherwise. Thanks for your help, if you know of any good websites or sources I can go to, please send me an PM. Thanks!
You’re welcome.
Need to point something out to you as a disclaimer: you will need to get the house under contract in order to wholesale it without a license. I assume you know that, but I didn’t want you to think you can just go and tell someone you’ll sell their house for them with no equitable interest in the property. To do that you’ll need a license.
Here’s a great resource for new wholesalers: www.flip2freedom.com click podcast and start from #1. Very good, free wholesaling info.
Also, join a local REI Association if you haven’t already done so yet. You can find out about local REI laws there. A lot of laws have been passed recently dealing with real estate investing. I didn’t know birddogging without a real estate license was illegal in my county until I went to my first meeting.