Question 1

Do I need a real estate license to wholesale in Midland or Odessa?

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, on either side of a Midland or Odessa deal. Skip the disclosure and you are outside the statute's safe harbor. 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

With comps this thin, does a double close make more sense than an assignment here?

Accepted Answer

It's a common route when a contract can't be assigned or the spread needs to stay off the end buyer's settlement statement, and it's what our transactional funding is built to fund. Metro-wide active inventory is thin (707 listings in Midland and 465 in Odessa as of July 2026), and Texas is a non-disclosure state, so off-market comps are already scarce here before you factor in a tight wholesale market. A double close, two separate transactions with their own deeds, is a different structural choice than an assignment under section 1101.0045. Which structure fits your contract is a legal question for your attorney, not a lending one.

Question 3

How does the Texas foreclosure calendar affect deal flow across two county courthouses?

Accepted Answer

Distressed supply lands on the same fixed day every month, but you're watching two courthouses instead of one. 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 courthouse of the county where the property sits, and both Midland County and Ector County (Odessa) run their own first-Tuesday auctions. Notice has to be posted and filed at least 21 days before the sale. If you're sourcing from both sides of the metro, that means tracking two separate monthly batches and having funds committed before each sale date. Confirm the accepted form of payment with each county's trustee or substitute trustee ahead of the sale.

Question 4

Does a second same-day closing cost more in transfer taxes here?

Accepted Answer

No. Texas cannot impose one. Article VIII, Section 29 of the Texas Constitution bars the Legislature from ever enacting a tax on a transaction that conveys fee simple title to real property. So a double close in Midland or Odessa costs recording fees, not a state transfer tax or doc stamps, on either leg. Title insurance premiums are also fixed by the state for a given policy amount, so shopping title companies is about service and whether they'll run two closings off the same file, not price.

Question 5

How much end-buyer risk should I price into a Midland-Odessa wholesale deal right now?

Accepted Answer

Underwrite to the cycle, not just the spread. The Permian rig count sits at 263 as of the week of August 7, 2026, the highest since July 2025, and it's the leading indicator for demand on both sides of this metro. List prices already show the split: Midland is flat year over year at $435,000 while Odessa is down 5.6% to $300,495 over the same period. Since our funding is repaid from the simultaneous resale, your real exposure is whether your end buyer's financing and timeline hold up in a market that tracks drilling activity more than it tracks the calendar. Get proof of funds and a confirmed closing date before you commit.

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