Learning honest wholesaling in Columbus

[Mahinda Horapakse]

Hello. I am trying to start wholesaling in Columbus. I am not new to investing but am new to wholesaling. I've been working hard to educate myself on the end to end process (e.g., souring leads, negotiations, calculating MAO's, double closings vs. assignments, understanding the different markets/neighborhoods in Columbus, etc. etc.). The part that I'm stuck at is wholesaling nuances in OH specifically. I understand that a broker's license is needed to legitimately wholesale a property, and that without one, you can only market one's legal interest in the property. Is there a resource (a book, training, website, or anything else) anyone can recommend that will help me understand this area better? I understand that marketing the legal interest to a property means you cannot market photos of the property, but I see plenty of wholesalers do this, while still advertising that it's a "contract for sale".

Similarly, how does one show the property to investor buyers without photos? Can I even allow end buyers access to scout the property physically if I'm not legally allowed to market the property itself?

And if I can only market a contract for sale, can I even claim to the seller that I can "provide a cash offer"? Can I legitimately sell my services as a cash offer even though I'm not the end buyer? 

Any guidance / direction would be appreciated. I've hit a roadblock and am having trouble findings answers to the above. Thanks!

[Sean Grabow]

Originally posted by @Mahinda Horapakse:

Hello. I am trying to start wholesaling in Columbus. I am not new to investing but am new to wholesaling. I've been working hard to educate myself on the end to end process (e.g., souring leads, negotiations, calculating MAO's, double closings vs. assignments, understanding the different markets/neighborhoods in Columbus, etc. etc.). The part that I'm stuck at is wholesaling nuances in OH specifically. I understand that a broker's license is needed to legitimately wholesale a property, and that without one, you can only market one's legal interest in the property. Is there a resource (a book, training, website, or anything else) anyone can recommend that will help me understand this area better? I understand that marketing the legal interest to a property means you cannot market photos of the property, but I see plenty of wholesalers do this, while still advertising that it's a "contract for sale".

Similarly, how does one show the property to investor buyers without photos? Can I even allow end buyers access to scout the property physically if I'm not legally allowed to market the property itself?

And if I can only market a contract for sale, can I even claim to the seller that I can "provide a cash offer"? Can I legitimately sell my services as a cash offer even though I'm not the end buyer? 

Any guidance / direction would be appreciated. I've hit a roadblock and am having trouble findings answers to the above. Thanks!

Hey Mahinda,

I'd be happy to jump on a call with you sometime and walk you through the process, as well as the do's and don'ts. Feel free to reach out to me to setup a time to chat. Thanks!