Wholesaling
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 12 years ago,
Is this transaction illegal??
I had a guy i was working with who was finding me some deals as a wholesaler and was telling me he was making around $2,000 a deal. I found out later after i saw the sales transaction recorded that the LLC that i closed with, once i looked it up on the Secretary of States website was managed by his wife? He ended up doing a double closing when i thought i was buying directly from a regular seller. Is there a law against disclosure of who the seller of the property truly is in a transaction?? He actually made on average of $7,000 on each transaction.Thanks