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.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.