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Updated over 2 years ago,

User Stats

258
Posts
141
Votes
Richie Thomas
  • Rental Property Investor
  • Sedona, AZ
141
Votes |
258
Posts

Legalities of wholesaling- how to educate myself?

Richie Thomas
  • Rental Property Investor
  • Sedona, AZ
Posted

After having completed my first deal a few months back, it's becoming increasingly clear to me that off-market deals are where it's at if I want a cash-flowing SFH rental. If there's no wholesaler operating in my farm area, or if there is one but they're not a good fit for me (unresponsive, keeping the best deals for themselves, etc.), then it seems to me that I'll have to take matters into my own hands and start my own wholesaling campaign. I'm open to doing this, but it seems like an area which would be fraught with legal risk. Ideally I could go "straight to the horse's mouth" and talk to a real estate lawyer in my area, but I feel like a lawyer's time would be charged at a rate of hundreds of dollars per hour, if not more. If I have to invest that kind of money in order to put my wholesaling campaign on a solid legal footing, then I will. But before I do so, I thought I'd ask the Bigger Pockets hive mind for advice.

With the explicit stipulation that no one in these forums is acting as my lawyer, what are some legal ramifications I should be aware of before jumping into the world of wholesaling?