William Bronchick | Is Wholesaling Properties Legal Without a License?
William Bronchick : You buy a property, you wholesale it, you profit. Do you need a license to wholesale Property? In most cases, the answer is “no”. Real estate brokerage is an activity regulated by states on their own terms, thus each state defines which activities require a license. There is a lot of vagueness and ambiguity in some of the state licensing codes, as well as “gray areas”, which complicate the matter. Furthermore, if you vary the techniques and your business practices beyond the scope of what I teach in my courses, it is not always clear how the state authorities might view your practices. Therefore, this discussion is limited to the simple act of buying and flipping as follows: 1. Sign a contract with a seller, assign it to another investor 2. Sign a contract with a seller, sign another one with a third party, then double close “FOR ANOTHER” The large majority of states use the “for another” language in their state licensing s...