Can I rehab a wholesale deal instead?

3 Replies

Hello all, I have a family member looking to sell their home and I was going to approach them about me wholesaling it. I was wondering if it is possible to rehab the property and sale it instead of wholesaling it in its current condition, if it failed to sale within the period stated within the wholesaling contract?  Thanks!

Yeah Bryan you can do that; if you were to wholesale to another investor, it's what he would do (rehab it and either sell it or rent it out) - so you can elect to rehab it yourself and then sell it although generally when dealing with "family" they may feel "some type of way" about watching you flip this house and make ALL this CASH... 

But if for some reason you were unable to sell it then go for it!

@Bryan Watson you could also "partner" with the family member where you front the cost of the rehab then split the profit on the flip. Just make sure you get put on the deed first so they can't back out of the deal on the back end and then you're out the money you put in the rehab. (Yes...even family CAN do such things.) I've thought about doing this with some of the off-market deals I've come across.

Thanks for the advice!

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