A bit new to wholesaling

[Lily De Filippo]

Hello all! I have a couple of questions with some background info. My ex fiancé and I purchased a LLC back in Phoenix for our wholesaling company. Now the guy recently ditched our son and I and I really want to take this thing on on my own. I'm in Chicago and I have read into wholesaling (before I was just doing the emails me contracts while he did all the "work"). My questions are: Do I need an LLC in on order for me to wholesale? (the LLC was in his name) Where can I get my contracts reviewed for little cost so that I can make sure they are legit and up to par in the city of Chicago? In case I put a seller under contract, and the numbers don't add up, or no one wants the deal, do I need another contract in order to cancel out our current one or ...? I'm confused about the exiting clause. Finally there was a moment in time where we had three homes under contract but no one wanted to purchase them because they were manufactured. I'm having a hard time understanding why exactly no one would want to purchase them? Sorry if this post was a bit redundant but I want my business to succeed and I can't be afraid to seek answers! Thank you all! 🙂

[Crystal Smith]

Originally posted by @Lily De Filippo:

Hello all! I have a couple of questions with some background info. My ex fiancé and I purchased a LLC back in Phoenix for our wholesaling company. Now the guy recently ditched our son and I and I really want to take this thing on on my own. I'm in Chicago and I have read into wholesaling (before I was just doing the emails me contracts while he did all the "work"). My questions are:

Do I need an LLC in on order for me to wholesale? (the LLC was in his name)

Where can I get my contracts reviewed for little cost so that I can make sure they are legit and up to par in the city of Chicago?

In case I put a seller under contract, and the numbers don't add up, or no one wants the deal, do I need another contract in order to cancel out our current one or ...? I'm confused about the exiting clause.

Finally there was a moment in time where we had three homes under contract but no one wanted to purchase them because they were manufactured. I'm having a hard time understanding why exactly no one would want to purchase them?

Sorry if this post was a bit redundant but I want my business to succeed and I can't be afraid to seek answers! Thank you all! 🙂

• You don't need an LLC to wholesale in Illinois.
• You shouldn't put a property under contract if the numbers don't add up.  
• The proper way to control a property is to provide earnest $ to support the purchase.  If your can't close you loose the 
• Your post says your in Chicago, so I assume your marketing to urban buyers.  The market for mfg homes is in the south or rural areas.  If you want your business to succeed ask your buyers what they are looking for or find different buyers.