Wholsaling in Maryland
Can someone help me with a issue that I keep running into. I am new to wholesaling so I dont really know the ins and outs. I keep getting conflicting answers regarding whether wholesaling is legal or not in the state of Maryland. I just talked to a title company and they are telling me that wholesaling and assigning a contract is illegal in the state of Maryland and the I speak with others that tells me that it is legal and that they have been doing it for years.
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I am a "buy and hold" guy so i am defiantly not a subject expert on this, but i can easily imagine that some of those "investors" who are contacting me about my rentals from CL are going to end up in prison, thanks to the new Dodd/Frank guidelines that became the law as of 2014.
IMHO, a great example of this would be that some of these folks are still offering lease option with rent credit, with "in house closing" and that part is widely known now that sort of a behaviors could land you prison not just here in MD but in all states of the good old U.S. of A.
ps.:I even remember reading in the Sun that "flipping" is illegal now in Baltimore unless you show some value creation? But why not visit one of the main investment clubs in the city (Mr Parish's or the other one and find out from the "horse's mouth" what is going on here in MD.