Isn't this just going to lead you to other wholesalers?
yep........................other wholesalers that have buyers, wouldn't you be willing to split a deal if someone else brought you a buyer?
competing wholesalers are your friends not your enemy
Yes, some of those guys are wholesalers, but so what? Do you care if its another wholesaler's buyer that buys your property?
I personally don't split my profit with another wholesaler. I tell them this is what I need for it and they can sell it for whatever they want above that and I will give them that. Looking at it, I guess splitting the deal would be worth getting the buyer contact in the long run, but I've just never done that.
You can do a double assignment or an assignment and a double close or you can just pay the wholesaler out of closing (depending on the trust level obviously).
It doesn't matter how you structure it, but I would make sure that if the wholesaler is going to take the step of putting it under contract with you that you have non-refundable earnest money from him or her.
You don't want to get strung out by another wholesaler for your contingency period only for them to back out at the end of it.
I called two "We Buy Houses" signs the other day.
The first one was a realtor who happens to be investor friendly, which is not always easy to find, and who will certainly be useful as a wholesaler.
The second one was a hard money lender in my area. Another invaluable contact as a wholesaler.
Ryan gave a great list. Now for Item #2 and other wholesalers. Yes they are your friends.
What I started doing years ago when I started working with other wholesalers is I gave them a non-exclusive option on my deal, and they gave me the same on theirs.
You can option an option, and you can option your contract. First one with the right buyer wins, and their "fee" is covered by the deal they make..and mine is covered by the difference between my deal and their option.Call it a wholesalers MLS.