Wholesaling Contracts in Utah

[William Montgomery]

Hi guys,

I'm really interested in wholesaling properties in Utah (SLC and Utah counties). I am new to most of this and am trying to understand the process better.

According to my understanding of wholesaling in UT: When you sign a REPC with a seller you list a purchase price on the contract. You have to include an explicit assignment addendum. When you wholesale it, what do you sign contract wise to officially assign the contract to a buyer? And how do you make it so that your buyer doesn't know what the original purchase price is? Nor so that the seller doesn't figure out what the fee you're charging your buyer is?

Do any UT wholesalers have contracts they'd be willing to share that they've used in UT?

Thanks guys!

Will

[Jackson Pontsler]

Welcome to the world of wholesaling.  I understand that you may want to hide how much money you are making from a wholesale.  The only way you can accomplish this is called a double close where you actually purchase the property for a number of hours.  Otherwise with a simple assignation addendum you will be able to assign the contract but it will be made apparent how much you got the property under contract for.  Personally speaking as a flipper I don't care how much you make.  You can be making more than me but there has to be enough meat on the bone for me to jump.  If you are expecting a flipper to jump at a full gut for 20k profit good luck (maybe if it was a light rehab).  However if your deal meets my profit criteria I don't care if you make 200k profit.  Let me know if this helped.