Wholesale sample deal breakdown with a realtor

[Danny Day]

Can an experienced wholesaler break down a sample deal they have completed with a REALTOR? I'd love to see one here, I think we could all learn from it.

I'm trying to work with more wholesalers, but both sides are confused as to how the deal will break down.

Also, how do you assign contracts for bank owned properties? Or do you need to dual close?

Thanks in advance

Danny

[Rob Gillespie]

Hi Danny,
I have flipped hundreds of contracts over the past 15 years, and things have changed quite a bit. You can not assign an REO deal any longer. You will need to write the contract in the name of an LLC that only will hold that property, and sell your interest in the LLC. You can assign contracts from a realtor, but a big key is to have a cash buyer, or they gotta buy your contract for cash. Let me know if you need any advice on a spacific deal. There are so many variables. Good luck!!! :mrgreen: