Saturday Quick Tip -- South Carolina REC Interprets The Law: NO MORE WHOLESALING!
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 14 December 2024
⏱️ 15 minutes
🧾️ Download transcript
Summary
On today's Wholesale Hotline Podcast (Special Saturday Edition), we help you start your weekend right offering tips, news and mindset advice.
Show notes -- in these episodes we cover:
- Tips to level up your wholesaling business.
- Motivation to keep you going on your real estate journey.
- The latest industry news to keep you updated.
Please give us a rating and let us know how we are doing!
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, it's Tiri Norton. Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:17.7 | Breaking news, the South Carolina Real Estate Commission just released a four-page statement on their website, |
| 0:24.4 | clarifying the controversial amended real estate practice act that was passed in May of 2024 |
| 0:30.3 | that regulated the practice of wholesaling in the state of South Carolina. |
| 0:34.6 | This statement by the REC clears up any misunderstandings and makes it crystal |
| 0:39.0 | clear that there is no more wholesaling in South Carolina and gives the REC marching orders to enforce it. |
| 0:46.6 | On this video, I'll break it down for you. If you don't know, in recent years, regulation in various |
| 0:50.7 | forms has been sweeping across America. As of this recording, just in the past few years, |
| 0:56.0 | 14 states have passed some form of regulation |
| 0:59.0 | on the practice of wholesaling, including Illinois, |
| 1:02.0 | Nebraska, Oklahoma, Arizona, Kentucky, North Dakota, |
| 1:06.0 | Alabama, Oregon, Indiana, Wisconsin, Iowa, |
| 1:10.0 | Virginia, Pennsylvania, and South Carolina. |
| 1:13.5 | Now, I've covered all of these regulations here on my YouTube channel in detail. |
| 1:17.2 | If you transact wholesaling in any of those states, it's your responsibility to learn and follow |
| 1:22.7 | these laws where they apply. I put together and update regularly a free report with a breakdown of these |
| 1:28.1 | different laws by state that you can download. Just go to wholesale regulations.com. And of all |
| 1:33.9 | these regulations so far, the state with the most aggressive regulation against wholesaling is |
| 1:38.9 | South Carolina. In fact, South Carolina was the first state to ban the business of wholesaling |
| 1:43.5 | in its entirety. |
| 1:45.0 | Now, this is significant and alarming because I believe it opens the door and will pave the way for other states to follow suit. |
... |
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