@Ryan Blake I just don't get it. What Guru came up with using the term "wholesaling" for "assigning a contract?" There's a very big difference & they're creating choas & havoc in the industry. A wholesaler purchases a property & sells it to a rehabber for a discount to fix & flip it (sell it for retail). If you only have equitable interest in the contract, which creates a contractual interest, then you can only market the contract that you have an interest in, smh...
I really wouldn't care, but when you have a homeowner losing their home because they're caught up in a contract with someone who has a clause that says the contract is subject-to finding an end buyer & gives them permission to market the property it's no different than a contract that's subject-to flipping 3 keys of coke & finding a cheaper distributer. It's frickin illegal & regardless of what you're contract says it can't break the law. I'm seeing too many people lose their homes because of the ignorance. I market to pre-foreclosures & sheriff sales btw...
Each state has a real estate commision that says what you need a license to do. Just because the "Guru" sold them a $50k class does not make what they're doing legal...
Ok, just had to get that off my chest. I was waiting for a "wholesaler" to tell me I didnt know what I was talking about, lol :-)
