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Updated over 8 years ago on . Most recent reply

User Stats

317
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72
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Paul Winka
  • Rental Property Investor
  • St Louis, MO
72
Votes |
317
Posts

Finding a buyer for a wholesaler & getting paid.

Paul Winka
  • Rental Property Investor
  • St Louis, MO
Posted

Need some help...

A wholesaler is selling a property for which the price is set at $19K--that wholesaler has the property under contract with the seller. I do not want to buy the property myself, but I know somebody that does. This prospective buyer is willing to pay more, $23K, leaving $4K for me. 

What is my role in this situation? Am I "wholesaling the wholesaler" or a "middleman", an "upmarketer" or what is this practice called? Is what I want to considered legal? Since I am a deal enabler, how can I legally get paid without p***ing anyone off and do it all above board? What should I do? I really would like to earn my first $$ enabling a deal but I am not sure what to do. Thanks. 

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