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*Wholesaling 101* This Is basically a solid overview of what real estate wholesaling is. If you are not licensed you only can do one deal every 12 months. To get around that in IL you would need to work with a Realtor that works for a brokerage that allows wholesaling. Companies like Keller Willams, EXP and Baird & Warner do not allow their brokers to wholesale. So somebody like myself will be able to assist you because the brokerage I work for which is Classic Realty Group allows it. Typically with wholesaling you can make anywhere from 5 to 20k for your assignment fee (Which is your fee / What you get paid). This is an example of a wholesale deal Mary (Seller) - Wants 100k for her home You (Wholesaler) - You get Mary house under contract and then add your fee of 10k Jane (Buyer) - You find a buyer at 110k After Jane (Buyer) buys Mary (Seller) gets her 100k You (Wholesaler) get your 10k assignment fee at closing Jane (Buyer) buys the home at 100k Its that simple the next post will be the contracts you need to have the seller fill out