I have been a realtor for about a year now and have also been researching wholesaling properties. I am located in IL where they have made it law that in order to wholesale you have to be a licensed.
I wanted to ask fellow IL realtors, if you are wholesaling, how are you going about doing this? Are you writing up your own contracts/having them written up thru a lawyer for wholesaling? Or using the standard contracts we get from our brokerages?
Are you implementing options contracts into the transaction?
Are you going thru Your brokerage to conduct the transaction or by way of being an investor are you simply going to the seller, putting the property under contract and closing or double losing with an end buyer and not involving your brokerage?
I just want to do everything legally and wanted to get everyone’s opinions/suggestions on how to go about Doing this the right way.
Thank you all!
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