Legality of Wholesaling - Ohio

[Mikael Winkler]

Hello everyone!

I have a question regarding wholesaling in Columbus, OH. Through my research here on BP and elsewhere, the topic of wholesaling seems quite controversial and murky. It seems like the main sticking point is someone without a license essentially marketing the property, though they stress they're simply marketing the contract, not the property. Please correct me if I'm off-base.

I do have a license, as I dabbled in commercial property selling/leasing. Hypothetically, what would I have to look out for in pursuing wholesaling? Am I required to enter into ownership, even for a short time, before I "assign" the contract to a buyer? Or could I simply line up a seller and buyer for a "finder's fee" from the buyer, having nothing to do with a contract? Any input would be appreciated, as I simply want to make sure I have an understanding of the legality of this method.

Thanks!

[Jeff Rabinowitz]

http://watsoninvested.com/wholesaling/