Wholesaling is easy and I do it often. It is a very simple concept that can be difficult to get to the closing table. Just make sure you control as much of the transaction as possible. Insist that your cash buyers put down a large downpayment and if they arent cash buyers, they must use your lenders. Wholesaling is legal in every state btw.

Wholesaling as an Agent...
I'm interested in learning about wholesaling and assignments as an Agent. Investing in real estate is the primary reason I became a licensed Realtor; however, I got off track and involved myself with the retail aspects of the business (career, family needs). I would like to know how to ethically and legally wholesale and assign R/E. Can anyone share the steps involved to wholesale and/or assign R/E to an investor... ethically and legally? I understand full disclosure and agree. Thanks in advance.

its either you're an agent or a principal investor.

either your broker's company is going on the purchase contract or yours alone.

also make sure that the seller you're lowballing is aware how much their home is really worth, otherwise you may get in trouble for not disclosing.

just figure out which hat you're wearing when making an offer.

personally i make full price offer with terms, just as long as they're willing to do some sort of owner financing, ill make the offer as a principal without my broker's company name on the contract. what other agent out there is making full price offers anyways? i create my terms with the sellers, acquire an interest and resell my interest on higher terms. its called arbitrage. banks love to use it with savings and credit cards. why cant we by leveraging real estate?

i prefer to do it paul's way by using a land trust. its a bit more advanced but here are the technicals.

find a seller with a large amount of equity whether its distressed or a fire sale

underlying loan balance is $200k
low ball offer accepted $200k
after repair value is $350k

grant/warranty deed title to a 3rd party trustee or yourself
real property is transferred into the trust

investor has 100% beneficial interest(personal property) of the trust
trustee has 100% equitable title and legal title(real property)

find a rehabber to get private money or conventional financing
sell or assign 100% of beneficial interest for $210k
investor gets $10k profit
so now the rehabber has beneficial interest and can resell it at $350k after fixing it up

In PA you can be an agent AND an investor, as long as you disclose it.

I have gotten the best results from the ad in the community newspapers and I also use the Bandit signs.

For properties in California, is it best to go through an attorney to set up land trust or is there an agency of some sort (ie escrow company) that handles?

As long as you disclose that you are a licensed agent, you will be ok.