wholesaling lease options
Has anyone wholesaled a lease option for a fee from the buyer? I have some older wholesale properties I've offered for cash sales but can't move them. I get calls to purchase as lease options more than cash sales. If the seller goes for it, I'm considering on assigning the lease option to my buyer. Sell for $5,000 down plus terms and buy for the same terms with $2,000 down, where I would retain the difference, $3,000 and assign the terms and walk away.
Has any one done this much and are there pitfalls to consider?