Updated about 10 years ago on . Most recent reply
Various Wholesaling questions
Hey BP, good evening. I just got my real estate business on the ground, and I'm gonna give Wholesaling a shot. I've done my homework, and I know what it will take to be successful at it. It's gonna take lots of HUSTLE, HONESTY and PATIENCE to do this the right way. However, I have some questions and I hope that they can be Answered here.
Per Michigan real estate law, you can only do 5 RE transactions a year without a licensed broker. Is there any way to use a broker in a wholesale deal, more specifically, in each type of wholesale deal? (assignment of contract, LLC assignment and double closing?)
Also, I have a set of contracts that I'm going to be using. One of them is for a double closing, one is for signing up a house with the motivated seller, and others are for other scenarios. What I want to know here is which contract I use with who in the event of a double closing. I'm guessing that I use the motivated seller contract WITH the motivated seller, AND the double closing contract would be used for the end buyer. However, I'd like to make sure and I'm hoping someone could let me know. If you'd like to see the contracts I'll post them.
I also had another question but it escaped my mind - must have not been a big deal, but if it comes back I'll post it.