Wholesaling Properties on Guam-Legal/Illegal?

[Adam Drilon]

Hello. I am new to BiggerPockets but was told by my brother that this is a great website for real estate information. I'm just starting my journey into wholesaling, but have recently moved to Guam and am not sure whether or not wholesaling properties here is legal. I looked up the real estate laws here and it says that if you are doing any type of business that involves real estate you have to be licensed. 

Thanks for your help!

[Kyle Stanton]

Quote from @Deanna Saburo:

Curious to know if you ever figured it out. 

 I did! It is 100% legal and you do not need a license because you are a "principal" in the transaction (you only need a license to practice on behalf of someone else.) Some skip tracing works here and there are title companies that do dual escrow/close and assignments. I created a good amount of leads just grinding here but it's challenging to have a successful wholesale business on Guam because there just isn't a volume of motivated sellers. You'll find some here and there but not enough to build a pipeline. If you do pursue this, I recommend getting your license first so you have the ability list as well and still benefit from the leads you generate. But if you truly want to do wholesaling, I definitely recommend working virtually stateside. Guam's morning hours are perfect cold calling hours for the states and you'll have waaaay more resources there for comping, skip tracing, dialing and list pulling (Guam doesn't even have Zillow). Feel free to reach me on whatsapp if you have any questions 671 864 4570.