Help...Illinois....wholesaling and agent questions

[Skye Fleming]

Before you read my questions, I just wanted to thank you for taking the time to do so.

1-If I get an agent on my team to go into the MLS when I need them to, how do they benefit? I can't pay them correct?

2-wholesaling in illinois ...legal or illegal? The only thing stopping me is the legality of it all.

3-wholesaling contracts for Illinois...where do I get them? Also to flip units is a different contract from what I hear. Where would I get that contract?

4-can I Wholesale a property in foreclosure or  pre-foreclosure?

5- do I just simply need a real estate attorney for all of this?

6-if you had only enough money to make a choice which one would you do?

A: get a real estate license

B: go for it and start your own business wholesaling with fix and flip and multi-units being the long term goal for my own portfolio with a partner

About me: I've been around the outside of the block, had partners, been used, people wanting 10-25k to help me! I've read books, been to webinars and boot camp's etc. I don't want analysis paralysis! I want to start taking action now and the right way!! Please understand that I'm now stronger, smarter, wiser, and more determined than ever! I work hard...extremely hard! I'm just looking for HONEST help and guidance. You give me that and I will give you so much more in return. I have a lot to offer any partner!

Skye

[Scot Howat]

Many people may disagree with me, or be upset with this advice, but I think you should reconsider wholesaling altogether.  There are a few, and I stress FEW, wholesalers in the area.  Mainly because it's extremely difficult to start a wholesaling business and keep it running successfully.  Out of the last 99 "wholesalers" I've met in person only 1 has actually done a deal...and he did it accidentally....before he knew what wholesaling was.  And since then, he hasn't done another deal.

Finding the deal is the hardest part.  Why would you want to do the most difficult work for the least amount of profit?  Don't make any excuses for yourself like I don't have money to rehab, or good credit, or any of that.  Those are all excuses.  

Personally I think wholesaling should be used as an exit strategy if you come across a deal that you don't want to do.   

If you really want to create a real estate sales job for yourself then go ahead. But that's all it is.

Start with an easy rental, or a small flip.  See which you like better and which helps moves you towards your goals.