How do you wholesale?

[Chris Simmons]

Ok....seemingly stupid question here.  I came across a flip deal that I have to pass on because I am in the process of buying 4 duplexes.  I know...poor me.  Anyway, I have other investors who want the house.  I have bought from wholesalers before but this is my first time on the other side.

What do i do?  How does it work?  Do I sell them the contract for a cash fee?  Do I have to mess with a double close where I officially buy it and then sell it 10 minutes later?  I am not a wholesaler and don't plan on being one....I just occasionally come across great deals and this is the first time I can't take advantage of it myself.  

I have the property and I have the buyers.  I just need to understand the mechanics of closing the deal efficiently...time wise and tax wise....and ultimately getting my wholesale/finders fee.

Thanks for the help.