I have a duplex under contract that u am wholesaling. The seller lives in one of the units. I have a potential buyer that wants to go look at it tomorrow. Should I worry about letting the seller show it to him? What if they start talking about numbers? The seller does know I may be reselling it. I just don't want the buyer to know what I'm getting it for. It's making me a little nervous. I am out of town. If I was there I'd probably see if I could show it to him myself, but Im not. Am I worrying too much? I've unfortunately come across a few dishonest investors since Ive started wholesaling, so it worries me.
This is the exactly why I have avoided wholesaling. You often are doing a similar job as a realtor (connecting two parties) usually without a Lic and how much you actually make is your little secret. Compared to a realtor, where it is clearer what each realtor is making (usually 50/50 of 6% sales price).
What happen with the few dishonest investors you found?
I guess that is part of the wholesaling process. What I do is let the seller know that we are partners in the process, we both want to get the property sold. I try to get the okay to put a lock box on the property and I can show it or let the prospective buyer go in and look around and call me with any question they may have when they are done.
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