How to NOT Get Sued, Fined or Go To Jail Wholesaling Houses…

On this video Jerry shares exactly what wholesalers need to do to avoid getting sued, fined or possible go to jail!

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Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.

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[anthonymuhammad]

I always let the seller know I am not the buyer, I am Acquisition Manager! Great content.

[donly]

I need to get started on this! Ive been procrastinating for atleast 2+years now 🤦🤦🤦🤦🤦

[EdgarGaray]

Reposting. Thanks for doing this Jerry. Few doing it like this. To God be the glory. I do this and a few extra measures to adjust. I think double close just became a better idea. Double close lenders that can see the need to extend from 24 hr to 10 day pay back on these transactions can also be in a sweet spot for whats here. Thanks again!

[prosperify]

Thank you Jerry for all the information you make available.

[franciscoruiz]

U can avoid all the risk by double closing. Yes it cuts into your profit a bit but you can always pass on some of that cost to your end buyer.

[tresiii]

Hey Jerry you may need to testify against these regulations before Congress!

[nishahyde]

Thanks Jerry, always breaking it down in bite size pieces.

[joeralphs]

Thank you Jerry, great information and guidance

[siriusbrown]

Jerry you’re flipping genius. I use Jeff Watson as well. I also do creative finance. Create notes and sell notes. Eddie speed and Mitch Stephen are in my circle as well. Hopefully we’ll do something in the future together.

[tengomusculos]

Why is a bank foreclosing on a house not considered equity striping, but is accepted by everyone and wholesaling isn't accepted? Many homeowners benefit from wholesaling their house but not being foreclosed on. Foreclosing actually harms the seller's credit.

[janestoecker]

Virginia requires RE
license to Wholesale now

[UnpluggedAgent]

If you are licensed, please be careful with wholesaling.

[davidmacgown]

It's not the sellers I'm concerned about. It's the cash buyer's. They tend to be shady and that's why I file an affidavit of memorandum. If I could trust them I wouldn't cloud title.

[MgtowRubicon]

In the United States, Earnest Money Deposit (EMD) is not legally required for a legally binding contract unless the parties specifically agree in the contract that EMD is required.
EMD is NOT an exchange of consideration because both parties have a claim on it until the contract is concluded.
*_EMD is merely an invention of the brokerage industry to assure their commissions._*
There are times when the Seller must deposit EMD instead of the Buyer. Such as when the Buyer is bound by a specific performance clause.
If the Seller cancels the deal, then the Buyer keeps the EMD. This is like a "put option" for real estate.

[WBLLC]

Jerry don't be getting us in trouble when the whole time your the one that teach us how to do it Jerry!!

[andreanopes]

Let me get this straight... so the government wants to come in and say that a wholesaler is taking advantage of distressed sellers... but that same distressed seller can't pay 1 or 2 years of property tax and it's ok for those very people screaming to protect the distressed sellers to take their home anyway without giving them a dime? 🤔 Makes total sense.

[dimitrivancamp]

From a moral standpoint, I am against regulating wholesaling and avoiding assignments.
From a business standpoint, I would pay to lobby for massive regulation so I can clean up like never before.

[escapeclause]

Excellent video Jerry. Your a freakin genius.

[rightright]

What is the reason in Arizona? Aquisition manager will then do the job

[mariastewart]

Excellent!!! Can a real estate agent do wholesale as a side job?