Is 'No Money Down' Wholesaling Still Being Done?
I know of a deal going down where an investor-friend of mine has a property under contract, is creating the LLC as the buyer and will sell the LLC to the end buyer for a cash price that will result in him receiving $100k profit (gross). Will he run into trouble because he didn't put any of his own upfront money into the deal? I'm asking because I haven't seen these types of deals go down in a while and wonder if investors are shying away from the due to the legal climate.
Most Popular Reply
This is one of several means to wholesale a deal without any of your own money. Just keep in mind that while the gurus offer this as the "easy money" and anyone can do it with no effort at all, keep in mind that all of that is false.
Wholesaling is hard enough as you need a good enough deal to start with, then you need an even better one to allow for your fee added in, otherwise, buyers will not be attracted to purchase if the price is too high.
SOme other ways are when dealing with private sellers or using trust agreements.