Question 1

Do I need a real estate license to wholesale in Lubbock?

Accepted Answer

Not if you follow Texas Occupations Code section 1101.0045. That statute lets you acquire an option or an interest in a contract to purchase real property and then sell the option or assign the contract without a license, provided you don't use the contract to engage in real estate brokerage and you disclose the nature of your equitable interest in writing. Since SB 1577 took effect on January 1, 2024, that written notice has to go to the seller as well as to a potential buyer. Skipping the disclosure is treated as engaging in real estate brokerage without a license. This is a statewide rule, not a Lubbock ordinance, so it applies the same way whether you're working a deal in the city or out in Wolfforth or Slaton. We're a lender, not your counsel, so run your contract and disclosure language past a Texas real estate attorney before you use it.

Question 2

Assignment or double close, and which one does this loan fund?

Accepted Answer

We fund the double close. Section 1101.0045 is written around assignments: you sell the option or assign the contract, with the equitable-interest disclosure in writing. A double close is different in structure. It is two separate purchase-and-sale transactions, A to B and then B to C, and each leg has to be actually and separately funded. Texas title companies generally will not close the A-to-B leg on the C buyer's money, though that is practice rather than a statute or a rule we can cite, so ask your title company how they handle it. Our transactional funding covers that first leg and is repaid out of the simultaneous resale. Which structure fits your contract is a legal question for your attorney, not a lending one.

Question 3

How does the Texas foreclosure calendar shape wholesale deal flow in Lubbock County?

Accepted Answer

Texas forecloses without going to court, and every county's sales happen on one day a month. Under Texas Property Code section 51.002, sales are held on the first Tuesday of each month between 10 a.m. and 4 p.m. at the Lubbock County courthouse, or an alternate area the commissioners court designates near it. If that Tuesday falls on January 1 or July 4, it moves to the first Wednesday. Notice has to be posted, filed with the county, and mailed at least 21 days before the sale. For a wholesaler that means distressed supply arrives in a predictable monthly batch, and the 21-day window is the lead time to line up an end buyer and confirm funding before a date that doesn't move. We don't have a Lubbock County-specific foreclosure volume figure to point you to, so treat this as a process fact, not a supply forecast.

Question 4

Does shopping title companies cost more on a Lubbock double close?

Accepted Answer

No, and that's the point. Texas title insurance rates are promulgated by the Texas Department of Insurance, so the premium is identical at every title company in the state for a given policy amount, and a recent order cut the schedule 6.2% effective March 2026. Texas also has no state real estate transfer tax, and since a 2015 constitutional amendment the legislature is barred from ever enacting one. So a second same-day closing on a Lubbock property doesn't trigger a state transfer levy the way it might elsewhere, and shopping title on service costs you nothing in premium. Confirm your title company is set up to run two closings off the same file before you go under contract, not the week of your close.

Question 5

Why does deal size matter more for transactional funding in Lubbock than in a big Texas metro?

Accepted Answer

Because the entry price is a fraction of what a DFW or Austin deal needs. Slaton and Levelland stock runs under $150,000, and the metro's mid-tier value overall is $214,267 as of mid-2026. We fund up to 100% of the purchase price on the A-to-B leg, so the absolute check size for a Lubbock wholesale deal tracks that lower entry basis. That's a capital-efficiency point, not a rate discount: pricing and underwriting are the same flat-fee, no-credit-check structure everywhere we offer this loan, subject to underwriting.

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