Wholesaling Real Estate | New "Ban" Just Passed & More Regulations for Wholesalers...

[@FlipWithRick]

Four Proposed Bills Talked About South Carolina HB4754: www.scstatehouse.gov/sess125_2023-2024/bills/4754.htm Oregon HB 4058: legiscan.com/OR/bill/HB4058/2024 Iowa HB2394: legiscan.com/IA/bill/HF2394/2023 Virginia HB917: lis.virginia.gov/cgi-bin/legp604.exe?241+sum+HB917 Current Five Laws Passed About Wholesaling Real Estate 1. Illinois: legiscan.com/IL/text/SB1872/2023 2. Oklahoma webserver1.lsb.state.ok.us/cf_pdf/2019-20%20ENGR/hB/HB3104%20ENGR.PDF 3. Arizona www.azleg.gov/legtext/55leg/2R/laws/0170.pdf 4. Kentucky apps.legislature.ky.gov/record/23rs/hb62.html United States Constitution Link: www.archives.gov/founding-docs/constitution-transcript

[@pros1perify]

Thank you Zach for this training. Wow! I know you put a lot of effort into this training and I appreciate it. This is what my big problem is with wholesaling, every time I want to start, something comes up like a bump in the road. I think my best friends with this is the title company or attorney. Thank you again.

[@matthew8661]

Double closing beats most of these laws because you technically hold ownership for how ever long until the second contract closes

[@dreamchaser9738]

Yep. That's what my mentor said to do since regulations are coming in. They'd have to ban house buying from unlicensed folks to get rid of that loop hole. But now I feel like I have to start over since I was ready to do assignments 😑

[@AlisaLewis]

Great information Zack, thank you for unscrambling. all those new laws. you clarified it very well. Thanks . 🏀🎉🏀🎉

[@HolyCityMobileHomes]

Just FYI South Carolina is an attorney state. Meaning, you need an attorney to close real estate transactions. All of my attorneys are refusing to facilitate a wholesale deal until they see where the chips fall. How you interpret the law is spot on in my opinion. But until a court makes a ruling, it’s very gray for everyone in the wholesale business.

[@FlipWithRick]

There’s like 10 attorneys doing them

[@PropertyOpportunityProfit]

Love the content man. Keep it rocking!!!!

[@FlipWithRick]

Thanks! Will do!

[@QsimMubeen]

I am a virtual assistan and have been working with realtors and wholesellers in the past but have changed my niche to marketing now as the market was really bad last year is it getting better now or still bad?

[@matthew8661]

the easy thing for the country to do is to disband the use of real-estate agents and give everyone access to the mls to list their own house instead of Fsbos let people have access to the mls and just let agents be available not as an agent but as a consultant

[@skiplucas3841]

Because,they believe, its a conflict of interest, and a violation of the fiduciary responsibility for agents who they believe, have a daily opportunity to get great deals at low prices, and may take advantage of sellers. Especially since sellers believe the agent is working in their best interest from the beginning. I actually had 2 agents take my offers and present them as their own to take my deals. Before I woke up years ago. Once an agent tells a seller all the reasons their house wont sell, they can tell the seller they have to put 30 k into the house to get top dollar. So, really, its a consumer protection law. The realtor groups are not likely to do much about complaints anyway. Must be happening a lot in south carolina. Doesnt say much for the credibility of agents. Its a toss up too if more agents or lawyers kill deals.

[@ThePoitivient]

I'm in NJ where Marijuana sales are legal. These wholesale laws remind me of these situations where the companies selling Marijuana can't put the money into a bank because it isn't legal on a federal level. Just nonsensical...

[@claudemoss1005]

The Realtor lobby is working to shut down wholesaling nationally. They're playing the long game. Wholesalers don't have any lobbyists so eventually we're gonna get our clocks cleaned. The question is what can we do about it?

[@MikeyCasasola]

So if I’m an agent I can’t virtually wholesale in North Carolina?

[@andysear]

As a former RE Broker of 20 years it appears to me that real estate agents who have a fiduciary to the seller would be the only ones in trouble with these laws. The agent is bound , by law, to obtain the best and highest price for his seller client. To take a contract from a seller then assign it to a buyer and collect a fee could cost that agent his license and a hefty fine as well. To take a contract, then double close on it could also jeapordize said agent. The reason for a double close is to hide from the seller the actual price ( increased ) that the seller should have/could have received from his agent. Again, revocation of license/big fine/jail time for RE fraud. BUT those scenarios are for RE AGENTS, not for non-licensed individuals. NRA has to be behind this simply because their member numbers have fallen dramatically and will continue to do so. NAR is on the ropes and they know it. Call your legislators to kill any law prohibiting wholesaling by non licensed individuals.

[@finx_lara3617]

What about Texas do they have any laws? I would appreciate the info thank you .

[@hellomasudd]

Always good to see your videos, keep it up! 🙋‍♂️ Btw, are you currently seeking video editors or a thumbnail designer to enhance viewers, retention, or CTR? If yes, May I send you a previous work sample?

[@willmontgomery8843]

What about PA

[@themoisturehut]

SC finally banned wholesaling officially yesterday 😢 Governor just signed the bill. What is the solution?

[@MelissaNiv]

Use Azure Coast Homes. They are all lawyer agents. They do $500 limited listings, so you get full access to the MLS and still control the entire listing. It's basically paying a small fee to use their brokerage to use the MLS and they monitor and guide you to make sure you're compliant per MLS rules. Easy peasy. Bypasses all this crap.

[@Gwazi]

Can you double close virtually?

[@QBellame]

Thank you for the explanation.

[@thechrisflynn]

I do transactional funding ladies and gentlemen, I can help you all get around these regulations.

[@latoyapryor4518]

Hello do you do dealings in Va? If so can you send me your company info?

[@charlescooper6640]

I lot of my buyers have offered me finders fee.

[@steveh1460]

Another great one!🇺🇸

[@tallguywithsrt687]

Zack is the Goat when it comes to wholesaling

[@PhilBanks]

8:11 Seems to make it illegal for Realtors to assist Wholesalers in wholesaling. In other words not consorting with the enemy (Wholesalers).

[@matthew8661]

at 14:42 read section 4 under (b) lol it says they can take some of your profit but not to exceed what you made Brooo what if they take it all

[@yolandaoglesby3828]

Thanks

[@lupitaguarista6033]

Thanks, Zach 😊

[@dawudbrown9687]

What about Pennsylvania?

[@ghazics]

I wholesale in philly just fine just get the right title company

[@pennahomebuyers]

@@ghazics what title company in Philly

[@ghazics]

@@pennahomebuyershi sorry for the late response, but choice one abstract is what I’ve been using they’re great. Ask for Nick

[@ozzystephens7444]

Just will have to double close or nevo most i guess

[@NoSpinster0909]

Thanks Zach

[@14-7AtWork]

Anyone in RVA wants to d4d and rd4d and I cold call the sellers and find buyers and split 50/50?

[@JoeJacksonsBelt]

I’m sorry what’s RVA and yes let JV I do land and houses too. I have buyers

[@ransfordodame819]

Nothing bout Massachusetts,thank God

[@jermon983]

The fact these states think actual wholesaling is about assigning contacts. 😂 Simple fix folks just close on the property yourself.

[@galvatron77]

Yep...double close if necessary. 💯

[@Midwest374]

Alot of people don't have the Money to do that. So then what?

[@jermon983]

@@Midwest374 Go up your skills and stop being a lazy real estate person. Just looking to make a fast buck...

[@galvatron77]

@@Midwest374 There are still way more states that don't have these rules than states that do. Work all of those. You may have to do it remotely.💯

[@LindseylovesREI]

Any wholesalers needing EMD or double close funding, let me know!

[@LittleSanchez54]

Am I tripping or does he sound different

[@JePandVerkopenNL]

What happend to your voice?