real estate wholesaling under attack

[Rudy Ferrara]

Realtors want wholesalers out of the picture completely.  We need to unite and fight back nationally

rudy ferrara

[Lydia R.]

@Rudy Ferrara This isnt new. This was passed in Illinois at least 3 years ago but it might be closer to 5. You can still double close and you can still wholetail. This is what happens when you listen to youtube gurus that are just trying to get link clicks and not actually educate people with accurate information. There is a difference between wholesaling and assignments. Wholesaling is a strategy just like fix and flip or buy and hold. Assignments are the method, just like hiring contractors or doing the work yourself on a flip or getting a property manager or managing yourself on a rental. These are all methods that accomplish the same objective. Wholesaling is NOT illegal ANYWHERE. Assignments are the method that has come under the most scrutiny and been regulated in a lot of places. There are other methods of wholesaling. You can either complain about changes that you have no control over (unless you want to run for some kind of political office in your state) or you can adapt, adjust and keep making money. I know which one I would choose...

I am in an incredibly hot market, I recognize the value of being able to close on a property and then resell it at a higher price. I bought a house last year from a seller that was being transferred for work and needed a substantial leaseback. By the time he had moved out (after 60 days) the value of the property increased. I put the house on the market and sold it for 100k more than what I paid for it. There is no way I couldve gotten that same number off market. I found a lender with a loan product to help wholesalers buy and resell their deals. Game changer. So maybe do a little bit more research before you go all chicken little ‘the sky is falling’