Wholesaling illegal without personal financial backing?

[Shaun Dewitt]

So I just spoke with a guy at an investment company who told me that if I try to put a home under contract without personal financial backing, meaning the ability to personally fund the property I intend to put under contract, I am committing fraud and this is "highly illegal"? It makes sense logically that there could be a law about this but there's also the possibility that he is/was steering me wrong to avoid competition. Does every wholesaler really have their own financial backing for every deal they find? What are the laws surrounding wholesaling and where should I go to research them in my state of Oregon?  Thanks,

Shaun Dewitt