Need Wholesale advice

2 Replies

Hey everyone,

So I am a bit new to wholesaling but need some advice on how to write this contract up, any other advice, etc.

I have a friend who owns a house in Malibu that she has had a challenging time selling. She took it off market and said if I can find a person to buy it, I would get X amount above a certain price.

I have nothing to lose by trying. How would you go about putting the wholesale contract together, etc?

@Jason Boritz ,

If you already have a contract that you're using, then use that.  She's asking for a price, and that's the price you're offering to her (unless you negotiate better terms).  Wholesale it as you would normally wholesale.  It sounds like she knows what you're doing, so you're ahead on the honesty front.  That's a good thing.  (I just piped in on a question that asked how to keep your intentions secret, more or less.) 

If you don't already have a contract, then work with a local title company or your lawyer to come up with a standard contract.

Be careful not to market a property that you don't own or have an equitable interest in.  I'm not up on CA law, but that's pretty standard to be against the law.  Make sure you know the local laws and don't cross that line.

And, finally, make sure this is a deal.  The numbers have to work.  If she wants too much to make it a good investment property, then you need to either negotiate her down or walk away.  Or... get creative.

Good luck!