Can you wholesale a property from another wholesaler, if so how?

Question

I was wondering if it were possible to wholesale  properties that other wholesalers are advertising. I'm asking because, I've completed cops on a few of these properties and noticed that the asking prices are extremely low in comparisons  to the ARV's.

Brandon Krieg · Answer

@Felicia Whitehead - You can, if you do it as Account Closed suggested.  BUT... you should likely do it in conjunction with the other wholesaler (as essentially a Joint Venture).  If you want to do it, you should certainly be bringing separate value than the other wholesaler can bring.  For instance, if you know other buyers, and the other wholesaler doesn't that can be a good arrangement.

If you bring the same deal to the same buyers, many will be turned off, and assume there is something wrong with the deal.

Account Closed · Answer

You ask for the other wholesaler's permission. And if they say "only if you comply with x, y, and z requirements" then you comply with x, y, and z requirements.

Dustin P. · Answer

Sure you can close it and then resell it

Felicia Whitehead · Answer

@Brandon Krieg

You made some great points,  I can see how this type of deal could confuse buyers if not conducted under a joint venture status. When wholesalers reach out to me moving forward, I will offer my assistance as a co-wholesaler. Thanks to you also, @Sam T.

Felicia Whitehead · Answer

@Don Konipal

Thank you,  I see your point. Those properties would already be priced to sell.

Don Konipol · Answer

@Felicia Whitehead

It’s known as a “daisy chain”.  It’s rare that it works, but once in a while it works out.

Felicia Whitehead · Answer

@Sam T., thank you