All Forum Posts by: Larry N.

Hi, There's a lot of talk about co-whoIesaling lately and I was wondering since this seems to be more of a seller's market has anyone had any real success with co-wholesaling? One would think that wholesalers would not have a problem selling their deals and have more cash buyers than they would inventory available, so they would not be interested in co-wholesaling. Has anyone had any real success with approaching wholesalers to co-wholesale their deals?

@Joseph Hartzel  Why can't you just assign your contract to your end-buyer.

@Joshua Martin @Ralph R.  @Brian Smith Hi, these cash buyers are hedge fund buyers that don't have time to look at MLS so they just get people to do the leg work to find deep discounted properties for them.

@Christina R. I was wondering couldn't one just sign as an LLC and then sell or transfer the equitable interest to the end-buyer so that the end-buyer would be the new owner?

Hi BP members. Well I have a cash buyer ready to buy a wholesale property now. The property is listed on MLS. Do I just sign an Option Contract with the realtor and then assignment the Option to the cash buyer for my assignment fee? or do I sign a standard realtor contract stating that I can assign the contract and the EMD is be paid upon acceptance? (upon acceptance I can get the EMD from the cash buyer). The seller and cash buyer would pay the realtor fees. Thanks.

@Andrew Spencer

After you both agreed on a 50/50 split, couldn't you just have the other wholesaler assign you the contract for their half and then you assign the contract to your end-buyer for your half of the split profit?

@Peter Vekselman  I will use listsource and add direct mail to my arsenal of marketing for motivated sellers and distressed properties. Thanks so much for all your help Peter!!

@Jeff Rappaport Yes, I know of Joe McCall's Wholesaling Lease Option information...Great Course! I agree most markets are very competitive now. I've been focusing on such websites as Craigslist, Backpage and FSBO websites and also Google for marketing. I will now add multiple channels of marketing, including direct mail.

I appreciate all your incite and help. Thanks so much Jeff!!

@Justin Wilmot

I know you said that you don't mark up the price, so if a wholesaler is selling for $50k and wants to make $10k net profit and will not take a reduction in price, then one would just assign the '$50k contract' to the end-buyer for $3k, but in essence the end buyer paid a total of $53k ?? Thanks.

@Jeff Rappaport Oh I see, so you are finding your own deals? How are you finding your deals for your buyers?

@Peter Vekselman Hi Peter, you mentioned connecting with local wholesalers in the area and do JVs with them to provide deals to your buyers. Most of the wholesalers either don't have inventory or don't respond or they send over priced properties that no cash buyer wants. So how would one approach wholesalers or how would one get inventory for all of my cash buyers that are ready to buy now? Thanks.

@Jeff Rappaport Thanks for your input. You mentioned working with a realtor. So are the properties that you are working with off-market or on the MLS? I know most realtors want to see that you have been approved for a loan or want to see a proof of funds first before they will work with you. Also, if they know that you are doing a wholesale flip, the realtors don't want to work with you. How do you handle these obstacles and commission fees working with realtors? Thanks.