Attorney who knows wholesaling laws in ohio

[Adam Pasternack]

I am looking to wholesale a few deals in Columbus but am having trouble getting sound accurate legal advice to the legal/ethical ways I can do this.

From what I have learned so far there seems to be at least two concrete ways to do this

1) I can do a double closing which requires me to have or borrow the money for the day

2) Contract assignment

I have had conflicting advice from people I trust on the legality of #2 in ohio.  If there is a way to do it legally/ethically I want to do that since it does not require purchasing the property myself.  Any recommendations on an attorney which knows the case law in this area and is investor friendly, best case an investor his or her self??

Thanks!

[Rob Mcclellan]

Hi Adam,

#1 is legal. #2 may be legal. It is all about intent. If you never intend to buy the home you can not wholesale the contract. to Wholesale a contract you have to have a contact. If you enter into a contract to buy a home with no means to buy it and then try to wholesale the contract you have violated Ohio law. There is a video on YouTube from the division of real estate that talks specifically about this.