The Legality of Wholesaling

[Nikolas Hamon]

Hey ya'll! I wanted to bring up a concern of mine as a rookie investor. I would like to begin my investing journey by wholesaling and have been actively researching the different methods of doing so. In doing so, I understand that I have several strategies at my disposal, including contract assignment and double-closing. However, I found that the assigning of contracts seems to be a grey area that, as a rookie investor, I am not comfortable in pursuing without more knowledge. This grey area seems to stem from the definition of a broker, and as a wholesaler without a license, is illegal when done incorrectly. However, I also came across double-closing. I would love to hear from those with experiences in this area and possibly learn more regarding the legality of these strategies! I would also love to learn more regarding how one can better establish an end-buyer even before engaging in a deal!