We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
May 19, 2022, 07:43:50 am
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
May 19, 2022, 07:43:50 am
Home Help Search Calendar Login Register

Author Topic: selling other investors deals  (Read 2573 times)

Offline dmharp

  • Member
  • *
  • Posts: 36
selling other investors deals
« on: April 20, 2008, 08:03:25 am »
HI , I have not done a wholesale deal yet, but i have started building a buyers list . while in the process of building my list I had another investor contact me with a deal he is wholesaling. so my question is , how can i go about wholesaling another investors deal to someone on my buyers list? so basically wholesaling a wholesale. he is offering it at 75k, which is a good price , i think good enough for me to raise the price to 79k and still be able to sell it . I just dont know how to make the transaction work if i would find a buyer ???

TIA,
 
    Dennis

Offline kdhastedt

  • Member
  • *****
  • Posts: 5807
Re: selling other investors deals
« Reply #1 on: April 20, 2008, 08:07:09 am »

Hard to say...$75K and $79K mean nothing to us without context...like what are the comps at retail?  You say it's a good price.  How good?  50% of retail?

Keith
I have CDO...it's like OCD but in alphabetical order - the way it should be!

Offline dmharp

  • Member
  • *
  • Posts: 36
Re: selling other investors deals
« Reply #2 on: April 20, 2008, 08:32:57 am »
it is a SFH in a working class neighborhood, comps 140-150k it is already 65% rehabed with new kitchen and baths that are 90% finnished , 3 bed 1.5 bath , new heat system and some new windows , it still needs around 12-15k to finnish , i have rehabed in the neighborhood before and if i were goin to sell it at retail i would say it would sell quickly at 140 .
 this wholesaler contacted me about his property b/c he saw my ad on the local craigslist , i mentioned to him about raising the price a little from his price and offering it to my buyers list but i belive he is pretty new to wholesaling as well and was not sure how that would work so I just told him i would try to find out and get back to him 

Offline Army Veteran

  • Member
  • *
  • Posts: 1
Re: selling other investors deals
« Reply #3 on: April 22, 2008, 09:39:20 am »
If the numbers work you will simply fill out a assignment of contract between you and the wholesaler with the words (and/or assigns) after your name. You will also fill out another assignment of contract between you and someone from your buyers list.  I Hope this helps.

Army Veteran

Offline ericmedem

  • Member
  • ****
  • Posts: 873
    • Real Estate Wholesaling Guide
Re: selling other investors deals
« Reply #4 on: April 22, 2008, 09:42:47 am »
Better yet, put the home that is being offered on a short term lease option that is contingent upon you finding a buyer prior to the seller putting the home under contract with someone else, then if you find a buyer you have the protection of the option and you can just move towards closing as usual.

Eric Medemar
http://www.InvestorsPlayground.com Now FREE!  Just type in your email so I know where to send your FREE 1471 Page Investors "Holy-Grail".  (It's NOT $97 anymore)

Offline GlennWang

  • Member
  • *
  • Posts: 7
Re: selling other investors deals
« Reply #5 on: April 23, 2008, 09:41:44 am »
I dont see the logic here,if you can retail for  $140K making 85minus (precost plus rehab netting you $55K why trying to gain only $5K,by just selling to the next wholesalebuyer

 




SMF 2.0.15 | SMF © 2017, Simple Machines