Comment by antonymoose
3 days ago
This guy wholesales ;)
I recently worked on an MVP for a Zillow-for-wholesale startup. As a curveball, our state passed a law restricting where and how these contract-to-buy sellers operate. So their workaround, after consulting lots of lawyers, was to provide a standardized LLC / Contract flow such that you’re no longer marketing a house for sale. You’re marketing a stake in an LLC, only that LLC has a sole purpose (a contract to option out a specific house).
I didn't know about this use-case. But this is also what investors do with real estate in California because Prop 13 resets the taxable value on a real estate sales, but not on buying an LLC that holes the real estate.
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