Matt Schelberg when we were very active in TAX sales in CA circa 1965 until 1985... here is how it went.100 people in the audience at the court house, tax collector would go through each item in auction style.

As a wholesaler, they are not an “owner of real estate” per se under the licensing statute, but they do own an interest in real estate by way of the purchase agreement which the wholesaler offers for sale or assignment.If we read the licensing rule in conjunction with the definition of “real estate broker” under Michigan’s occupational code, we find a very broad definition capturing any individual or entity that:…who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocation.One frequent and notable misconception is that if a person only conducts the sale of real estate on their own behalf, as most wholesalers do, they are exempt from licensing.

@David Rutledge and @Royston Lobo I moved to CLT and watched the boom.

But I have come across an awesome fourplex in an upscale neighborhood in Lexington KY (Booming Spot) so I guess the same learning applies!

I have personally witnessed homeowners losing homes becasue they let someone who had no ability to close and could not resell just walk a few days before the sale and boom house is gone .. lost to foreclosure.so thats why wholesalers get a bad rap not to mention the methods they use to get into contract which every single direct mail says the EXACT same thing..

You could move to a great investor's market now and set up shop and boom, couple years later it's not that advantageous anymore.

It's the reason why as a lender we rarely exceed 65% LTARV even throughout the housing boom this past year.

When time comes to narrow your search, contact the local Tax Collector to see if the property is qualified for a STR Business License.

Keep in mind that you can always call the Clerk or Tax Collector for that county with specific questions.

However, if as an example, we take a look at the many people who enjoyed some short term success on the back of the dot.com boom of the late 1990s, we’ll see that there were not too many that held onto their fortunes or whatever it was by which they measured their success.