However,when it comes to real estate wholesaling many people wonder if a real estate license is a must to get started. The simple answer isno?you don need a license to wholesale houses. You just have to be the principal buyer or seller in the transaction.
People also ask
Do you need a license to start wholesale real estate investing?
In conclusion, in most cases, you will not need a license to begin wholesale real estate investing. There no question that with dedication and hard work, you can be successful without a wholesaler real estate license. So, are you ready to start investing in real estate?
What is a wholesale real estate license?
However, a real estate wholesaler either takes ownership of a property outright or receives contractual rights to purchase a property. It this distinction between a wholesaler and a broker that explains why most states do not require investors to have a wholesale real estate license. Let break it down a little bit.
When do you need a real estate license?
To return to the subject, here are a few situations where you may want to get your real estate license. In 2019, Illinois enacted a law requiring anyone that conducts more than one wholesaling deal a year to have a real estate license. So far, no other states require licensing, but this might be the beginning of new regulations.
Do you have to have a contract to be a wholesaler?
Unless your in a market like today ?definitely a sellers market. As a non-licensed wholesaler, you don have to use that 15-page book as a contract. You can create (or have an attorney create) something short and sweet.