Wholesaling legal issues

[Christian Alvidrez]

Have any Wholesalers on here had any legal issues with contract and that sort of thing? I talked to a couple of attorneys here in Little Rock, AR that suggest not to get into it, he says he actually sues a lot of wholesalers in town. Is it worth taking that risk?

[Rob Gillespie]

@Christian Alvidrez

I can not speak about your state, but in Ohio you need to have the INTENT and the ABILITY to close.

It is ok to assign a contract if you have those two items. 

The State is NOT cool with the folks that have no intention on ever closing or they do not have the funds available to complete the transaction. 

I personally close on 99 percent of my deals. 

I also deal with a TON of wholesalers that bring me in on their deals because I can show proof of funds and close the deal for them so they do not need to do an assignment. 

As far as suing a wholesaler, there is another factor to the suit other than just wholesaling. They probably made false claims or were not transparent in my opinion. 

I would not worry about HOW to get the deal done ,I would worry about finding the deal. 

Good luck to ya!!

Hope that helps.