Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

2
Posts
1
Votes
Marlon Lunsford
  • Homeowner
  • New Jersey
1
Votes |
2
Posts

Is It Just Me or Is BP Anti Wholesaling

Marlon Lunsford
  • Homeowner
  • New Jersey
Posted

Is it just me, or does it seem as if the BP "higher ups" have a bitter taste in their mouths when mentioning wholesaling?  No question,BP is a great site for learning and networking. Where is the love for wholesaling?

Most Popular Reply

User Stats

9,999
Posts
18,561
Votes
Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
18,561
Votes |
9,999
Posts
Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
ModeratorReplied

@Marlon Lunsford I have never gotten the impression that higher ups have anything against wholesaling, provided it is done legally. The BP podcast has hosted many wholesalers over the years. 

One of the reasons wholesalers get a bad wrap in the forums is that many of them are breaking the law. They make false marketing statements, violate telecommunications rules, broker real estate without a license, market real estate they don't own, etc. Unfortunately some of these people confuse "how to not get caught" with following the law.

It is also complicated because every state has different laws governing housing sales. 

I honestly don't even like the term wholesaling, because it doesn't even describe what people are doing. A wholesaler is a middle man that buys in bulk and sells in smaller quantity. People using the term in real estate are not even buying the property in some cases. They are just flipping contracts and collecting a commission. 

It is important to differentiate, there are wholesalers who do buy (close and take title) on properties, then resell. That is legal in all 50 states. 

Bottom line, the devil is in the details. Follow the law, run your business with integrity and who cares what people say. Many people hate attorneys, police or any number of professions. It is usually based on stereotypes or personal experiences. The truth is no profession is all good or all bad.

  • Joe Splitrock
  • Loading replies...