Check Out This Possible Deal ?
I have a question for you pro wholesalers out there. There is a 6 unit for sale from an owner for 175k and appraised at 430k. A buyer has a contract on it and is looking to wholesale it. I also have buyers who I could wholesale it to as well. Is this possible and how should this be structured. Thanks in advance.
you said "a buyer" has a contract on this propety is that buyer you?
I heard of deals like this and I think that its a good way to make money. From my understanding, a buyer gets it under contract. Then the contracted buyer finds someone to sell it to at a marked up price( that is your fee). And gets a contract with the second buyer. The first buyer and the second buyer then gets an assignment fee at the closing( the actual sale). Everyone must have something in writing so that when the property is sold everyone involved in the deal gets paid.