If I come across someone that has a property that is already wholesaling the property (i.e. looking for a cash buyer) I can’t wholesale that can I? Like, would that be like double wholesaling because that person’s fee is already added in so you would be looking at 2 assignment fees correct? I talked to a guy today that had a property that was a wholesaler that said that you could do that. Is this true?
Yes! It's called co-wholesaling. It's legal!
Yes, you can add your assignment fee on top of their assignment fee, as long as your buyer is ok with it and the price. I've seen 4 and I am sure some have seen more. - LOL
Wow,that opens a whole new world for me! Thanks everyone!
Yes, it's possible to double assign a wholesale deal. As long as there is room in the deal for cash end buyer to make a profit. However, I would never let another wholesaler tie my deal up Knowing they have to find a buyer in order to close or don't have the abilty to close themselve.
I would see no reason why that would not be okay, as long as you cover your bases and disclose the agenda.
With that being said, typically one would assume that if a deal is already had by one wholesaler, there would not be enough meat on the bone to go around......
The deal that you should want, and anyone else should want, is the one no one knows about yet!!!
We call it a flex option contract. It gives another wholsaler the option to sell my property at my price and we split the difference. I don't have to use his buyer. I just have the option to. Remember 50% is better 0%.
Hello. I was just wondering how many ways this can be structured. What contracts would the 2nd wholesaler get on contract to? Would this be paid at the closing table? And by who?
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