Do I need my real estate license to wholesale? Can I be an Indianapolis wholesaler with no license?

Many people turn to wholesaling as a way to get started in real estate, especially in the Indianapolis market.  Do you need your real estate license to be a wholesaler?  The answer is (probably and in almost all cases) yes.  Here’s why…

First of all, THANK YOU again for making this channel the number one channel for Indiana real estate on YouTube according google analytics and SocialBlade info for BigReia.com.

This is a quick video I made about  a Hero’s experiment…

Do I need my real estate license to be a wholesaler?  Indianapolis real estate wholesaling questions answered.

Indy Anna Explains…
– As an Indianapolis real estate investor do I need to get a license to invest and/or to wholesale real estate?
– With all the real estate license laws changing, do I need my real estate license to be a wholesaler?
– Can I wholesale one deal per year without a license?

Here’s the question: Do I need a real estate license to wholesale real estate?  This may seem like an easy Yes/No answer but there are a few things changing right now.
– Many states like Pennsylvanie, Ohio, Indiana, Oklahoma, Texas, and others are in the middle of changing their laws or discussing changing their laws regarding real estate license requirements.
– I don’t have all the answer but I asked a few of our attorneys (BigReia.com/people) and got a few good answers that I will share with you today, if you guys want I can record a few interviews with them and upload them here if you send in your questions about this.
– I could have this wrong, they could have this wrong so please let me know your thoughts and if I’m missing something.

Based on most lawyer’s interpretation of the laws, this is what they conclude and what they told me, here are five things that wholesalers are doing that are illegal:
– You aren’t allowed to market a property that you don’t own unless you have a real estate license, and that may even be the case if you have an offer or have the property “on contract”.
– According to that interpretation, if you have a property under contract you are only allowed to market the contract and NOT the property, so anybody seeing your marketing should be able to know that it is the contract that is being advertised and NOT the property itself.
– If you have another wholesaler that you are doing a JV with or something like that, it is illegal to promote the property as you you only have the right to market the contract at most.
– Also according to many interpretations it may be illegal to write an offer on a property that you do not plan on buying yourself, this especially applies in cases where you are using the offer to “tie the property up” while you find a buyer/investor.
– Also in many cases double closings are considered illegal

So what can you do, here are five things real estate investors can do to stay safe and out of legal trouble:
– First check with your legal team (realtors, title company attorneys, lenders, etc.) and make sure they are 100% on track with everything you are doing
– You want to use your lawyers for ALL of your closings and make sure that everything is properly disclosed
– Maybe you and your team come to the conclusion that you need your license, it is no big deal just go get one lol
– You may not need a full “real estate license” but rather a special license or “certification” to do wholesale deals
– The TOP thing to do is to make sure you take care of all your people, the investors, the buyers, the sellers, the realtors, etc. make sure everybody is thrilled.

What to NOT do, here are five really dumb things that real estate investors should AVOID:
– Don’t get lists from county records or places like propstream and just spam hundreds or thousands of people a day with emails, texts, facebook messages, etc. this is NOT business building and it is these kinds of acts that have forced the government to respond
– Don’t just try and tiptoe around and hope you don’t get caught, instead understand the law and surround yourself with people who do as well
– Also please stop ALL daisy chain wholesaling with shady people, it is a real problem when the same property is being marketed at five different prices with misleading information about the investment qualify, instead only work with GOOD people that will take care of every

Q: So to answer the question: Do you need to get your real estate license to wholesale real estate?
A: Probably yes, and that will be even more likely moving forward as more changes and license requirements sweep across the real estate world. Check with your counsel, ask me any direct questions and let me know if you want those attorney interviews

Let’s recap and summarize:
– We went over the 5 things that wholesalers do that are illegal
– We went over the five dumb things to avoid doing as a real estate investor and wholesaler
– We also went over the five things any investor can do to make sure that their wholesale deals are safe and they stay out of legal trouble

Okay, like I said I’m no expert and if I missed something or if any of you have any different information please let me know.  You need to stay safe and there is plenty of opportunity operating within the laws even if they goofy.  

Be good guys, use our other material to build your legal team and do deals like banshee, it will help you…

Make the Universe Smile.

Text or email me with any questions: Love (at) BigReia.com and 317-969-5619.

Thanks so much!

~ Indy Anna

Want more (brilliantly) EPIC posts of real estate investing and bidness badasssery...?

There is a great post and class on the 38 Ways to Buy Apartment Buildings Zero Down with Pet Policies, and here are some other helpful and EPIC posts... for starters as a real estate investor if you ever want to build a business that makes you 30 grand a month then you MUST do this...

There's also a great class Azam did on how anybody can retire in the next 1-2 years with $30,000 a month in passive income by buying and selling businesses zero down.  What about Micro Flipping?  We have a great class on how to start micro-flipping real estate zero down from your house and make $500/day, speed wholesaling 101.

There’s also another great class on how to buy apartment buildings zero down that you can check out as well.  This relates directly to growing income on rental properties.  Speaking of which make sure to check out our epic page on 14 ways to avoid tenants from hell.  Also we have a great post on how to make build a "six figure a month" real estate wholesaling business.

Also here is a post on how I did this and I flipped a house off Zillow for 30.  Also you can check out the post on five steps to flip a house right off Zillow for 40 grand.  You can also check out our other epic post on 57 ways to make money with vacant land.

Here’s another post on how a Hero flipped a house off Zillow and made 40k in a few weeks while he was learning to read.  Also you want to check our post on the EPIC $25 million letter and the copy writing lessons for real estate investors, you'll love it.  Also you can see how ONE letter is making me $9,000 a month.  Also you can check out the post on 101 FREE places to advertise your houses.

Also check out the "SA" class and your REAL chances of create social mobility and income ascension with your real estate business.  Brilliant stuff.  Also there is a great post on the ONLY way you'll ever make 30 grand a month as a real estate investor and/or business builder.  Another brilliant class with a free downloadable Investor Guide is about 19 Ways to Make $10,000 a Month by Helping Tired Landlords.

Plus make sure you check out Azam's post on how to hire a realtor that makes you $10,000 a month... while you sit back with your shoes kicked up on your desk and fingers folded behind your head.  Also there is a great post on how to make five grand a week from putting out signs.

Also we have some great posts on 30 ways to buy real estate with no money down.  That is a two part series so make sure to watch the second part on the 30 ways to buy real estate zero down and with no loans or credit.  I also get questions about our "Epic Flipping" and how to turn $1 into over $25,000 by flipping ordinary items for exponentially high ROI.

And don’t forget our EPIC page on 100 FREE ways to find motivated sellers, we are making the number one page in the world on FREE ways of finding motivated sellers.  Also check out how I find motivated sellers from code violation properties, and also how I make over $1,500 a week giving investors access to that list.  Speaking of lists, for a list of the "Good People" and My Indy Anna Homeys you can go to our People Page at https://www.BigReia.com/people.

You can also get a LONG list of every contract, piece of paperwork and legal document that you'll EVER need for your real estate business all FREE to download: https://www.BigReia.com/Contracts.

Also perhaps the most important class Azam has done is on the "Frequency of Thought" and how to use the laws of quantum physics to rewire your brain, attract brilliance like a lightning rod and be the best version of yourself.  Check out this epic 3-hour class on Quantum Real Estate.

Go to BigReia.com and you’ll become allergic to being an LC and addicted to improving the world and creating Social Mobility for you and yours… 

Thanks so much!  = )

Make the Universe Smile.

~ Indy Anna
Love (at) BigReia.com
317-969-5619 (YES that's my actual Direct Line and I really do answer lol, so please text me first Thx!)

Free Comic Book Reveals:

100 FREE ways to find motivated sellers.