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Wholesaling
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Updated almost 9 years ago on . Most recent reply

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18
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2
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Michael Smith
  • Deltona, FL
2
Votes |
18
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Wholesale a wholesale property

Michael Smith
  • Deltona, FL
Posted

Hello BP Fam,

Suggestions on wholesaling a property that is already under contract by another wholesaler. Or is it better to do a back to back close?

Thanks you all for your response in advance

Most Popular Reply

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37
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6
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Seth Myers
  • Wholesaler
  • Grand Rapids, MI
6
Votes |
37
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Seth Myers
  • Wholesaler
  • Grand Rapids, MI
Replied

I've done deals with other wholesalers, but always letting them know beforehand. You never want to wholesale a property that is already under contract by someone else. This is where the industry gets a bad name. This is called Daisy chaining and you should always avoid it. If you want to help the other wholesaler set up a Joint Venture Partnership and split the fee 50/50 or add your fee. Whatever works out for both you and the other wholesaler.

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