Wholesaling a property from another wholesaler?

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Timothy W. · Answer

IMO it doesnt matter if he is a wholesaler. According to you he is the buyer and you will get your assignment fee. The buyer can later assign the property to another buyer. And, yes get everything in writing. Good luck!

Tchaka Owen · Answer

@Jasmine Coley - I'm trying to understand your question (or concern). I see two possible questions.

1. Can you wholesale THROUGH another wholesaler.....the answer is yes. If I have a deal I want to wholesale and I don't have a solid buyers list but know that you do, I'll come to you with a deal and we'll work out a deal, say 50/50. Or I could tell you I want $3k, anything you make over that is yours.

2, Can you wholesale TO another wholesaler.....the answer is yes. You don't care who is on the other end as long as that person performs. And you make sure it's set up to ensure performance. Eg, no inspection period, EMD goes hard immediately, etc.  Wholesaling to wholesalers is very common. The longest "chain" I've heard of was 11; when they went to closing, there were 11 wholesalers involved.

Brian Pulaski · Answer

Ok so you were trying to wholesale a deal from a seller but it was a wholesaler. Did he know you were another wholesaler or did he think you were a cash buyer?

Nick C. · Answer

A lot of "buyers" on your buyers list are probably wholesalers who claim to be cash buyers. If this bothers you, you can verify if they've bought a property before, look up their buying entity on public records.

Saleh Babekr · Answer

No he probably just doesn’t have a buyers list and wants to close the deal fast before the deadline

Brian Pulaski · Answer

@Jasmine Coley you are a wholesaler with a property you are assigning? You have another wholesaler who is trying to sign your assignment and then assign to an end buyer on his end? I would imagine so long as the wholesaler below you performs on his end you would be in good shape. I could also not be understanding your position in the deal.

Simon W. · Answer

Put everything in writing. I do not know if he is trying to steal your buyer. If he finds a buyer, just have him take % of your assignment fee.

Wholesaling a property from another wholesaler?

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