Looking for Title company in Chicago, near downers grove if possible

[Mir Mubashir Mahmood]

Does anyone know of a title company in Chicago, which would work with a wholesaler without a license? I'm trying to get the 1 deal which is allowed per year in IL. And if I do find one, can I proceed normally with assignment of contract, double closing, and showing the house? Is there anything I should know or can do wrong that would get me in trouble? 

[Lydia R.]

Quote from @Mir Mubashir Mahmood:

Does anyone know of a title company in Chicago, which would work with a wholesaler without a license? I'm trying to get the 1 deal which is allowed per year in IL. And if I do find one, can I proceed normally with assignment of contract, double closing, and showing the house? Is there anything I should know or can do wrong that would get me in trouble? 

 Wholesaling is not worth doing if you are only going to close one transaction a year. The thing you have to understand, and its hard because there is so much misinformation out there, is that wholesaling itself is not illegal anywhere. Assignments of contract are a METHOD of wholesaling. To give an example: If I gave you a steak and said cook this, you would have several different methods to choose from. You could grill it, bake it, pan fry it, air fry it, boil it (gross, but an option) you see where Im going with this right? The state of Illinois said, you can only grill one steak a year without a grilling license. Wholesaling is the steak. You can do many different things with the deal once you have it. You state doesnt allow more than one assignment per year, but as you can see from my example, there is more than one way to cook a steak right? Just as there is more than one way to close a deal. Double closings are unregulated which means you can do as many of them as you want. All you need is a solid transactional lender and you are good to go. Other options to close wholesale deals include: 

-Wholetailing: you use hard money to close on the property and then immediately list it on the open market at a higher price. This is a great strategy when you have negotiated an excellent deal and you want to get as much as you can for it.

-Sell the LLC not the contract. Put the property under contract using an LLC you created especially for this purpose. Market the contract like normal and then instead of selling the contract, sell the ownership stake in the LLC instead. So if Bigtime LLC put a property under contract, Bigtime LLC would be the entity closing on the deal but the ownership of that LLC has changed from you to your end buyer. Instead of a wholesale fee you are paid for your ownership stake in the LLC itself.