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The Ultimate Guide to Wholesaling in Ohio

Jerry Norton

Aug 8, 2024

white and blue concrete building under blue sky during daytime

Ohio’s real estate market is one of the hottest in the country right now, thanks to affordable home values, several attractions for families, and many job openings.

That’s good news for real estate investors — especially wholesalers. 

By wholesaling real estate in Ohio, you can profit from this hot trend taking place in the 7th most populous state in the country. 

That is, if you understand the complexities of wholesaling, along with how wholesaling in Ohio differs from other states, such as California, Texas and Georgia. 

In this article, we’ll break down: 

  • The basics of wholesaling
  • How wholesaling in Ohio differs from other states
  • Wholesale laws that are specific to Ohio
  • The best cities in Ohio for wholesaling today
  • And more

If you’re ready to learn everything you need to know about wholesaling in Ohio, let’s get started!

Wholesaling in Ohio

Before we get into the intricacies of wholesaling in Ohio, let’s make sure we understand the fundamentals of wholesaling real estate. 

A wholesaler is a middle man, someone who brings together the property owner of a distressed house and a real estate investor who is looking for a below the market deal. 

A wholesaler will enter into a wholesale real estate contract and then reassign the contract to an investor, ideally for a higher price. 

The wholesaler gets paid a fee, which is generally 5% – 10% of the total property price.

Keep in mind that a wholesale property not only requires extensive repairs, but is also in a distressed state, which means that the homeowner will be motivated to sell at a deeply discounted price. 

Wholesaling real estate is perfect for beginner real estate investors, because with wholesaling you don’t actually own the property; just the rights to the contract to then sell to an end buyer.

This low-risk and high-reward opportunity can be advantageous for those just starting in their real estate investing journey and even those with several deals under their belt. 

Wholesaling Laws in Ohio

In Ohio, wholesaling is legal under the condition that the wholesaler has a purchase agreement with a seller. 

It’s also important to remember that similar to wholesaling real estate in other states, it is unlawful for wholesalers in Ohio to advertise a property for sale that they do not own. Doing so would require a real estate license. 

If a wholesaler does not have a real estate license, he or she must rely on their professional and personal network of cash buyers to find a buyer for the property — not advertising.

The Best Wholesale Markets in Ohio

Zillow recently reported the top 10 hottest housing markets, and three Ohio cities made the list: Cincinnati, Columbus, and Cleveland. 

With several universities, professional sports teams, and many other employers, housing in these three cities is in high demand.

By wholesaling in these cities, you can connect investors with distressed homeowners. The result is not only a profit for you, but after the end buyer fixes and sells the property or renovates it into a rental property, it will become into a home for those looking for just that. 

Wholesaling Real Estate in Ohio: Frequently Asked Questions

Let's take a look at some of the most commonly asked questions associated with wholesaling real estate in Ohio.

Q. Is wholesaling legal in Ohio?

Yes, wholesaling is legal in the state of Ohio under the condition that you follow the laws in the state, which includes being transparent about your intentions, providing a purchase agreement contract and more. 

Q. Do You Need a Real Estate License to wholesale real estate in Ohio? 

No, you do not need a real estate license to wholesale real estate in Ohio. 

Q. How Profitable is Wholesaling Real Estate in Ohio?

According to recent data, wholesalers in Ohio on average make $41,660 per year. When combined with other real estate strategies, wholesaling can be an effective way to boost your income. Or, if you’re just getting started as a real estate investor, it can be a great way to earn cash while building your confidence. 

The Bottom Line: Wholesaling Real Estate in Ohio

There are many advantages to wholesaling real estate in Ohio — as long as you abide by the laws that surround wholesaling and real estate investing.

By wholesaling real estate in Ohio, especially in cities like Cincinnati, Cleveland, and Columbus, you can take advantage of the hot real estate market and grow your real estate business to new heights.