Creative Finance Real Estate

Summary

In Illinois, homeowners with multiple properties usually sell through a licensed real estate agent or broker. This complies with state law. For wholesaling without a license, consider forming a trust where the trustee can sell the property, or partner with a licensed agent. A trust typically includes a settlor, trustee, beneficiary, and trust property. Consult a local attorney for personalized advice.

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the trustee does not need a license?
In Illinois, a trustee selling a property held in trust generally does not need a real estate license. However, this scenario can be complex and it's important to consult with a local attorney to understand the specific legal requirements.
give me the full structure of the trust
A trust typically includes:
- Settlor: The person who creates the trust.
- Trustee: The person or entity responsible for managing the trust.
- Beneficiary: The person or entity that receives the benefits from the trust.
- Trust property: The property placed into the trust.
Each trust may have its own unique terms, conditions, and structures. Always consult with a local attorney to understand the specifics.