Wholesaling in Orlando FL

[Alex Klein]

Hey BP,

My name is Alex I am currently 21 and a junior at the University of Central Florida studying Finance , this pandemic has resulted in me reevaluating my life and realizing that REI is something that greatly peaks my interest. With that being said, I am currently looking for my first wholesale deal. I have heard a variety of mixed information on the legality of wholesaling in the state of Florida so I was wondering if any wholesalers in the central Florida area could provide some insight.

Thanks for any help you guys can provide.

[Tyler Gibson]

@Alex Klein wholesaling is not illegal in Florida. That being said if you don't know what you are doing you might break the law while trying to wholesale. I think where wholesalers get a bad rap is where they tell someone they will buy the house cash without really having the means to actually perform on the contract if they can't assign it. They end up walking away from the deal and while the wholesaler is no worse off the seller might be. This scenario could be considered fraud because the wholesaler entered into a legal contract with no intent of actually performing. This is one scenario and I'm saying you would do this but I'm sure it happens. The legit wholesalers can and will but the property even if they don't find an inverter to assign it to. I am not an attorney or a wholesaler so take this all with a grain of salt. And once you start getting some deals I'd love to see what you got.