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Updated over 3 years ago on . Most recent reply

User Stats

363
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407
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Matthew Masoud
  • Investor
  • Orange County, CA
407
Votes |
363
Posts

Accidental Wholesaler Needing Help

Matthew Masoud
  • Investor
  • Orange County, CA
Posted

Backstory: Long-distance investor/flipper with 17 units in Ohio

So I found a 4-unit in Ohio that I put an offer on. I did an inspection and it turned out this property was going to need a rehab before I could rent so I was able to negotiate pretty aggressively with the seller and get a huge price reduction.

As I'm setting up my schedule for next month, I realize I'm going to be a bit overwhelmed with all the projects in my portfolio.

So I thought hey, why not post it on local Facebook groups and see if I can wholesale this deal? I've never done a wholesale deal but how hard can it be?

I start getting interest in the property and people want to come see it. Now I feel kind of lost.

3 out of 4 units on this property are occupied so seeing the property can get kind of tricky.

Do I just tell my agent that I want to wholesale the property and need access?

Can I just schedule for all the potential buyers to come see the property at once?

What's next if I do find a buyer? We already started the paperwork with Fidelity Lawyer Title do I just let them know I'm wholesaling it too?

As I'm sure you can tell I don't know what I'm doing when it comes to wholesaling.

Any advice is appreciated.

Matt

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