there are thousands that wholesale in that state.. assignment clause is recommended
the only one to ask this question to is your supervising broker or the owner of the brokerage.
if your only wholesaling to make bigger money than a commission then logic would dictate you have to be untruthful to the seller and or buyer to the value of the property.. that probably goes against the rule of ethics.
IE your going to assign contracts that is.
if your going to close.. I have been licensed for 4 decades I ONLY close.. and its not an issue I offer cash.. I don't represent the buyer.. I put a disclosure that I am the principal in the transaction not taking a fee.. and I am buying for
PROFIT or LOSS … they sign and acknowledge that.. and if they want to sell for what I want to pay .. deal is done.
if your think your going to tell someone their house is worth X when its really worth Y just so you can make a big spread that is greater than your commission or tell them your not taking a commission.. then that's your choice..
Although do keep in mind most wholesale deals are distressed wrecked houses that need rehab etc.. and commission are negotiable.. there is no law of charging a higher commission for tough to sell properties.. if that is what your aiming to do..
00I worked a builder out of a 22 duplex's he had built was having a tough time selling.. he wanted 30
on the duplex deal builder wanted to net 300k per duplex he had 22 of them..
I told him my fee was 30k per duplex.. so that was my listing agreement 330k each 30k flat fee commission.
I took them all to the SF bay area and sold them all in one weekend.. they closed up over 60 days.. so that was a nice 660k in COMMISSION revenue for that quarter.. now I had at least 100k in expenses I had to front 50k for marketing the event.. but it worked.. I took the risk .. I mean I could have not sold any.. but the market was hot then it was 2004..
I am not a agent. I have two on my team who are also investors.
You do not need a realtor to do a wholesale contract. You are selling the contract (paper) to a end buyer. Once you get the seller to sign the contract and or assigns is in the contract, then you can assign it. You have temporary equitable interests in the property and can market as such. As long you have that stated in the contract.
Hello everyone I’m new to real estate wholesaling but I am very resourceful and dedicated. I’ve already found some leads to follow up but figuring out whether deals are good or not has me a bit stumped for now. I am learning everything possible it’s great seeing all of the input and experience on this site.