When you approach a RE agent to work with should I let them know up front that I am looking to get properties under contract to assign to other investors, or just let him believe that I’m looking to buy myself? I am not in the position to attempt a rehab but am ready to give wholesaling a shot. It seems to me that an agent wouldn’t want to bother with me if I can’t purchase the property myself.
Steve Cooks course mentions that you would need to let the agent feel you are purchasing the home and put in an “and/or assigns” after buyer in your contract. The agent will know at this point and if the transaction is successful and he/she gets their cut it shouldn’t matter anymore. If you structure the offer correctly their commission is already calculated for them and when you assign the contract they will still make their profit and your fee will show up on the HUD as “assignment fee”.