How do you not get screwed when you're wholesaling a deal?

[Mason Klement]

Hi BP Community, 

I'm interested in wholesaling deals, but want to be clear on how to not get cut out of the deal by either the seller or the ultimate buyer. I realize you can cloud the title by recording the notarized signed contract in the county records prior to showing potential buyers the property, but are there any other methods or tactics to be aware of? Also, besides the buyer potentially trying to go around you directly to the seller, what are some other things to be mindful of to avoid getting screwed on the deal?

Thanks!

Mason

[Barry Pekin]

@Mason Klement,

If you have a house under contract with the seller, the buyer cannot go around you.  Your contract is legally binding.  Registering the contract to cloud the title is helpful, but generally not required.  It just makes it easier to deal with if something does go awry.

If a buyer is truly looking for investment properties, they want a relationship with you because your goal is to bring them properties.  If they try to go around you, then you're not going to do business with them again, will you?  No.  And word gets around.  They're shooting themselves in the foot if they do something like that.  If they're a true investor, they're going to work with you.

Now, go connect with @Lydia R.