To Wholesale or Not..

3 Replies

  Hello all, I have been driving for dollars and sending out letters looking for properties in distress for the better part of 5 months. One of my leads just contacted me today.The lead is out of my price range with a downpayment I can't cover in a very nice neighborhood. Now,I have been looking primarily for properties to buy and hold and I recently (2 days ago) signed a contract with a real estate agent to work with them

I am wondering if I should wholesale it since I can't buy it. And from that, how does my realtor fit in to all of this? 

Wholesaling deals that you can't do yourself is a great idea if you have a buyers list. You create one by joining a local real estate investor group. Your realtor will get paid by the seller.

why did you need to sign something to work with the agent?? i only sign jv agreements when deals arise.....

you should find a partner on this deal and you may be able to keep it with them and get some equity in it

I signed a buyer representation contract. My understanding is that it ensures that the agent gets paid A commission if I make a purchase within a certain time frame among other things.

  I like the idea of partnering up and keeping it, I don’t know why that wasn’t my first instinct. 
  Thanks for the ideas and input!