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Updated over 10 years ago on . Most recent reply

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172
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53
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Kyle Cabral
  • North Dartmouth, MA
53
Votes |
172
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Met with an investor yesterday, said wholesaling has potential liability issues

Kyle Cabral
  • North Dartmouth, MA
Posted

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

Most Popular Reply

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266
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240
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Jeremy T.
  • Investor
  • Pittsburgh, PA
240
Votes |
266
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Jeremy T.
  • Investor
  • Pittsburgh, PA
Replied

This may be an idiotic question, but wouldn't obtaining a license in the state you are wholesaling help to mitigate this issue?

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