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Updated over 10 years ago on . Most recent reply
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Met with an investor yesterday, said wholesaling has potential liability issues
Hi All,
My partner and I met with our first private lender yesterday, he was very knowledgeable, successful and in general a good guy. We were throwing out questions about REI and came across wholesaling and he said that the strategy can work but has a potential flaw. The flaw he says is that if someone really wanted to get you in trouble, they could, because when you are providing your buyer with a P&S, you are essentially acting as a real estate agent/professional without a license. Was this a valid point by him? If others got wind of wholesaling, could they technically get you in trouble, etc.
Thanks,
Kyle