Graham, WA · Member since 2015 · 4 posts · 0 votes
Hi everyone, one of my good friends and I have talked about doing some investing in real estate, but before we do that we decided to build up our capital and try wholesaling. My question is, whether or not we would need an actual company, like a LLC or a partnership of some sort, with an actual trade name and business license to do wholesale transactions. Or would we be able to put homes under contract under just our names? We have a cash buyer lined up already and we really want to get a home under contract ASAP.
Congratulations first for already getting your cash buyer.I would say it depends on the state you are wholesaling in. Me, I am wholesaling using my name and business name on contracts. I will be turning my company into an LLC at the beginning of the yr. but to start out, you do not need a business license or LLC. You could call your title company and ask them some questions. They work with a lot of different investors and can give you some tips based on your states quite lines/laws.
Hope this helps
Good luck