The Latest Scam In Wholesale Real Estate (More Regulation) | Flipping Mastery Weekend Edition
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 19 October 2025
⏱️ 12 minutes
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Summary
Welcome to the Wholesale Hotline Podcast Weekend Edition (Flipping Mastery Edition), where Jerry teaches how to master the art of house flipping, wholesaling, and new construction development.
Show notes -- in this episode we'll cover:
- Straightforward, step-by-step training on making six and seven figures from real estate deals.
- Insider tactics for finding motivated sellers, analyzing deals, and raising private money.
- Learn how to flip houses virtually from anywhere—even with zero experience.
- Whether you're a beginner or scaling up, Jerry gives you the blueprint to build real wealth through real estate.
Please give us a rating and let us know how we are doing!
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☎️ Welcome to Wholesale Hotline & Flipping Mastery Breakout! ☎️
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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Transcript
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| 0:00.0 | Hey, it's Jerry 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. |
| 0:17.5 | The latest trend in wholesale real estate regulation is aiming to stop wholesalers from clouding title. |
| 0:22.6 | Known as an affidavit and memorandum of agreement, or memo for short, |
| 0:27.6 | it's been a long-standing practice for many wholesalers to file a memo once under contract with a seller |
| 0:33.6 | as a way to prevent a seller from cutting the wholesaler out of the deal. |
| 0:38.3 | Well, thanks to the bad actors in the industry who abuse the use of memos, several states |
| 0:43.1 | have passed laws regulating the practice of memos, and several other states currently have bills |
| 0:48.2 | and legislation. Bottom line, filing memos may no longer be a viable tool for protecting wholesalers. |
| 0:55.3 | I'll explain the blatant scam taking place with memos and then share which states have laws |
| 0:59.5 | and bills in place, when and how to properly file a memo. |
| 1:03.2 | And finally, what you can do instead of filing a memo. |
| 1:06.6 | I cover closely here all these different laws and regulations that impact the wholesaling industry. |
| 1:11.2 | And they also maintain a free report, has state by state breakdown of all the different |
| 1:15.4 | regulations. |
| 1:16.7 | Just go to wholesalerregulations.com to get that free download. |
| 1:20.4 | Remember, laws apply where you transact and it's your responsibility to understand and follow |
| 1:25.0 | the laws where you do deals. |
| 1:26.8 | A memorandum of contract is |
| 1:28.1 | supposed to do one narrow thing. Give public notice that you have a valid short-term purchase |
| 1:34.1 | and sale agreement for a specific property. It should only cloud title temporarily until the contract |
| 1:40.7 | is either closed or terminated. A memo is technically only enforceable if it's set to close at a reasonable time period, |
... |
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