There is a “get-rich-quick” fixation with the wholesaling of real estate that has been popularized by so-called investor trainers who lure novices with the message that wealth can be obtained using other people’s money and property. Is wholesaling legal? Yes. Is wholesaling done illegally? Yes. The problems with wholesaling arise from the methods, or schemes, used to accomplish the transactions, which do not always play out legally or ethically. Many self-proclaimed real estate wholesalers rely upon dishonesty to “flip contracts” for profit. Others use fraudulent, even criminal, means to close transactions. This session will present the arguments and counter-arguments regarding the wholesaling of real estate. We will address the civil and criminal aspects of the wholesaling. Most importantly, you will learn how wholesaling can be done legally for profit, and how it is done illegally, leading the perpetrators to prison.
Presented by Sherman C. Toppin, Esq.
Recorded at A Day on Real Estate 2019 – Aug 2019.