Wholesaling Is Getting Banned in Virginia!? - New Law Passed for Wholesalers (WHAT TO DO)

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Wholesaling Is Getting Banned in Virginia!? - New Law Passed for Wholesalers (WHAT TO DO)

In todays video Zach Ginn exposes the new "Wholesaling Ban" that just passed in Virginia and shares the truth about what this law means and how you can still wholesale houses and become a successful wholesaler in Virginia in wholesaling real estate, and the current state of wholesaling real estate and laws about it in 2024 in wholesaling real estate

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LEGAL DISCLAIMER: Flip with Rick, Zach Ginn, Rick Ginn are not lawyers, CPA’s, or financial advisors. All strategies, tips, suggestions, warnings, and recommendations included in the videos are from personal experience and are intended for entertainment purposes only. Clicking on JV deal links, free trial links or youtube videos in this video may cause financial benefit for flip with rick, zach ginn, and rick ginn (Example: Youtube Ad Revenue, Joint Venture Deals, Etc.) now or in the future. Please seek legal consul from a lawyer and financial advisor before doing anything shown or recommend on this channel. Your state and federal government laws supersede anything said in this video and its YOUR RESPONSIBILITY to follow the LAWS in your state or jurisdiction.
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Join Flip with Rick+ for Bonus Lives, Free Live Events, Messaging me Personally + More! CLICK BELOW!👇

FlipWithRick
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Another solution would be to put the contract in an LLC and sell the LLC to the cash buyer that way you aren’t assigning a contract you are simply selling an LLC that owns a contract

-AtWork
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One of your best videos yet. I love that you keep doing this YouTube stuff because you are getting so damn good at it

eduardovargas
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Indiana just had a bill passed in the house yesterday 2/27/24 regarding “unlicensed real estate solicitors”…basically giving the seller a 5 day window to back out of a contract and any unlicensed person marketing towards the purchase or sale of a single family home must be licensed or have the state approved disclosure language in ALL/ANY of their marketing

Rustoncapital
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Thank you for the video for someone who wholesales in Hampton roads!

isaiahjunkins
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Awsomeeee me watching it at 4:00 am this is important for me 🤴🏻✨👏🏼👏🏼👏🏼 thanks Zach and Rick masters

OMARK
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Thanks Zach, I learned of this “supposed ban” yesterday and a guru who will remain nameless, interpreted it far differently than what you have discussed today.

Thanks Again,

mikemccoy
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That’s not a problem, double-closing on it. Even much better you can ask for retail price.

rafaelpena
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Thanks Zach. You explain it very well. I’m in VA Beach too. Appreciate you and Rick!

jonathanjames
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Thank you for this explanation. It still is not law, so we will just have to talk to an attorney to make sure what is legal and not legal

prosperify
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UNLESS YOU DOUBLE I'd love to help

thearchee
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Great content and examples Zach. 💎I do love when the other videos circulate that claim "it" is banned though. Just sayin😂👍

steveh
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Hey rick what would your wholesaling company would do for this ?

marklark-eosc
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Is it possible to double close every deal? My mentor advocates for it here in AL, but would that mean I would have to do less deals since I'd need transactional funding or a willing cash buyer to fund my deals?

LadyBug-mcuo
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Hey your link for the free course is not working anymore to sign up

luisestevez
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We already have laws for handling liars, cheats, and thieves.
This protectionist legislation is merely meant to suppress free market competition which will harm the general public.

MgtowRubicon
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Need someone else to confirm with me😅 It would go into effect July, 1st 2024 correct? If so im doin as many as I ca before then 😎

Usernahbro
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There may always be debates and discussions about the regulation of wholesaling in real estate, it is less likely to face outright bans compared to broader real estate business practices. Wholesaling is a simple and more direct application of common law principles. It's not going anywhere. Common Law = Law of the Land. Also, a license is permission to do something which otherwise would be illegal. Real Estate "Agents" are the fraud. Not wholesalers.

poppygoldensun
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The United States Contracts Clause in the Federal Constitution should nullify the state legislation to require real estate licenses for private real state contracts.

MgtowRubicon
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could you include a payment into the contract? so whoever obtains that contract would have to pay you afterwards but your're not making money off the assignment. im not sure if that would work. LMK

macroreliable