The TRUTH About "Wholesaling" In Florida

[John Thedford]

Recently I have seen one BP member promoting "wholesaling" and wanting to charge a fee to "teach" you. In one of their posts they suggested BS escape clauses to get out of a contract. Not only is this unethical and dishonest, it CAN lead to being sued for FRAUD BY INDUCEMENT. So, instead of promoting honesty, they are promoting just the opposite. Do you want to pay a person promoting dishonesty, and potentially illegal acts? Be care who you trust. 

The other consideration is legality. Florida has expressly addressed this in 475.43. It is ILLEGAL to advertise properties except under the following circumstances:
1. own it
2. be licensed
Those using contracts to broker real estate, without ownership or licensing, are operating illegally. This can result in a 3rd degree felony charge. The gurus NEVER teach this fact. Usually, the first offense results in a cease and desist order. These cases are public record, and are something most people would not want the world to see.
So, if you want to "wholesale", and stay legal, purchase the property and then flip it, or be licensed.