Virginia lets you do one wholesale deal a year — then it's a license.
Virginia's HB 917 has been in effect since July 1, 2024: two or more wholesale deals in a rolling 12-month period means you need a broker license. Here's the plain-English version, and where funding fits if you buy the property instead of assigning the contract.
What the law does
Virginia's HB 917, effective July 1, 2024, folded wholesaling into the definition of a real estate broker. In plain terms: assigning real estate contracts two or more times in any 12-month period for compensation requires a broker license. One deal in a year doesn't — and the 12 months is a rolling window from your last deal, not the calendar year.
This is a plain-English summary, not legal advice — confirm your own situation with a Virginia attorney.
The two paths investors take
Past that one-a-year line, the choices are the usual two: get licensed (or work under a sponsoring broker who covers compliance, usually for a share of the fee), or double close — buy the home from the seller, take title, then sell to your end buyer, often the same day. A double close is a different transaction with different costs, and whether it fits your situation is a conversation for your attorney.
Where transactional funding fits
We fund the purchase for the short window between the two closings, repaid out of your buyer's proceeds, so your own capital stays free. You bring a real end buyer and a closing agent; we bring the money for the hours in between.
Budget for it honestly. A double close means a second set of closing costs — commonly around 3% — plus the funding fee. On a thin spread, the one assignment a year that needs no license may simply be the better deal — run the numbers before you assume the structure.
Need the funds to close?
Tell us the deal — type of funding, amount, and closing date. We answer quickly, and we tell you straight if it isn't a fit.
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