Birmingham, AL · Member since 2017 · 1 post · 2 votes
I will be getting my real estate license soon and I'm also doing alot of studying & reading before hand. However, I have a few questions that I haven't gotten a clear answer on. What are Alabama laws regarding wholesaling without a realtors licence? Are bandit signs legal in all parts of Alabama or just some. If only certain parts, what parts? Is it good to do a LLC or my own or easier to get an attorney to do so?
Rental Property Investor · Madison, AL · Member since 2016 · 57 posts · 35 votes
9y
Hey @Saranda Sumerlin Wholesaling is not illegal in Alabama, however, verbiage can get you trouble. I would recommend talking to knowledgeable lawyer that is also an investor. Also checking out the next AlAREIA meeting in Birmingham. If your wanting to create an LLC, I would pay an attorney who understands asset protection in the long run it's worth the money. For more info on asset protection listen to BP Podcast 109.
I can't speak to the laws in Alabama, but I do know that forming an LLC isn't very difficult and is something you can do on your own if you want to save money. More details can be found here: https://www.llcuniversity.com/alabama-llc/
Rental Property Investor · Madison, AL · Member since 2016 · 57 posts · 35 votes
9y
Hey @Saranda Sumerlin Wholesaling is not illegal in Alabama, however, verbiage can get you trouble. I would recommend talking to knowledgeable lawyer that is also an investor. Also checking out the next AlAREIA meeting in Birmingham. If your wanting to create an LLC, I would pay an attorney who understands asset protection in the long run it's worth the money. For more info on asset protection listen to BP Podcast 109.
Bandit signs are controlled by each individual city. Check the city's ordinance and code enforcement for temporary sign regulations.
In Madison and Huntsville all temporary signs are supposed to removed between 8am on Monday through 5pm on Friday. However, I have noticed well placed signs staying in place for long periods of time.