Hey, it's Tiri Norton.

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They are trying to stop any method where you're making money on a property you don't yet own.

That's the end game. The end game is if it's an ovation, a double close, an assignment, if you're trying to monetize something you don't yet own, eventually they're going to stop that.

And by the way, regulation isn't going to be just limited

to wholesaling. We're seeing it already come into flipping. California passed the law now where

you cannot flip a house unless every contractor is licensed and documented and they're giving a lot

of rights to a buyer on a property that was done by a flipper.

You know, I don't have a lot of problem with that one. Like, yeah, you should be doing competent work. You should be hiring competent labor. It's just overreach, right? It's the government coming in and saying, we're going to now control this. We're going to now put restrictions on this. We're going to now put requirements on this. And what they're doing is they're just meddling now into the flipping world.

Holsey. put restrictions on this. We're going to now put requirements on this. And what they're doing is they're just meddling now into the flipping world. Wholesaling, though, where they're going to try to stop that is they're going to get smarter. Right now, they're not very smart about how they're writing these laws because they don't understand what we do. They're getting smarter. And they're going to figure out, hey, really what we're, what we need to do is we need to write this law to where they can't do it if they don't own the property. And that's what we're starting to see. Like if you look at pencil, we have to buy properties. We have to buy properties. You have to. Okay. The bottom line is this. You got to buy the freaking thing. Yeah. Once you buy it and you own it and you take title, now you can turn around and do whatever you want. We don't want you pre-marketing something you don't own. That's a double close. We don't want you assigning something you don't own. That's an assignment. We don't like that. We don't want you doing an innovation. All innovation is, is it to work around to capitalizing and buying the property. You're trying to resell it for more without actually buying it. That's what a innovation is. They don't like those models because here's why.

They feel like the seller's getting ripped off. They feel like you're stealing equity. They feel like

you're predatory. They feel like you're misleading. They feel like you're misrepresenting.

They feel like all these things are happening. And they feel like with a buyer, you actually can't convey title on something you don't own. So you're telling a buyer, hey, I'll sell this to you for X, but I actually don't know if I can because I don't know if I can convey title because I actually don't own the property yet. So it's a problem all around doing the strategy. And it's a multi-billion dollar industry. And they're

coming in our pockets and they're not going to let it sit. They're not going to let it keep

happening the way it's been happening. Now, this may take a long time because who knows how

quickly. So far they're saying, hey, we want to, we want you licensed. All the licensing does is

it brings it under the jurisdiction of the real estate commission. That's step one is bring it under their control. Once it's under their control, now they can start to change the laws and say, well, we don't like you doing this. We don't want you doing that because now it's a brokering thing. We're considering wholesaling brokering and you're under our control now so we can tell you how to do it, what to do, when to do it, how much you

can do it, all that. you were considering wholesaling brokering and you're under our control now so we can tell you

how to do it what to do when to do it how much you can do it all that so people think like oh

just go get your license no big deal well yeah for today but that's not the bigger picture look at

the narrative look at the language look at the perception the perception is wholesaling is predatory it's harmful to sellers

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