Real Estate Agent · Richardson, TX · Member since 2014 · 511 posts · 161 votes
Hi everyone,
I came across a deal that has enough equity to sell quickly but not enough equity to sell to a rehabber. The house is in good condition but it may need a few repairs to get it move-in ready. Assuming I line up a retail buyer who wishes to use conventional financing, will I be able to collect an assignment fee? Will the bank financing the transaction be ok with that?
You can't wholesale. But you can "wholetail." I didn't know it was called that until after I closed one, heh. But if you want to give it a name I guess that works.
Now your next challenge is to go find a lender local to you that even knows what "wholesaling" is, much less the extra tricky version where it goes to an end-buyer using fannie/freddie money. Good luck.