Wholesaling in New York - Help!

[Emily Ellis]

Hi All - I am a new wholesaler in NY. So far I have had a nerve racking a frustrating time. A few questions for any experienced NEW YORK wholesalers.

If the language is in the contract, can it be cancelled and EMD be refunded? I'm being told this can't happen in NY...

I am being told if we don’t have 100% intent to purchase the property, than what I am doing is illegal. As a new wholesaler, I don’t have buyers set in place... and once under contract, there is a chance I can’t find one... “Don’t go under contract unless you have the cash.”

I starting to wonder if I should look into virtual wholesaling in a friendlier state. Everything I have learned from other wholesalers in different states doesn’t seem to apply the same here.

I want to make this work and am so motivated, but I also don’t want to continue to wonder if what I’m doing isn’t legal 100%.