Has anyone ever wholesaled a deal from another wholesaler before? if so how did you do it?
Get Option with wholeseller 1 tact on 5-10K asign to buyer for what ever you tacted on
That is the number one thing that ticks off wholesalers, wholesaling a wholesale. Usually it doesn’t work and just wastes everyone’s time.
If you are going to do it, let the wholesaler know what you are doing and don’t expect a lot of support unless you can quickly produce a buyer. Make sure your buyer can get proof of funds to you.
You obviously have no Idea what you are doing. You are here becuse you foun some ad saying you can become a billionarie from wholesaling. NEVER!!! wholesale from a wholesaler. It’s just bad business, and you never help another investor from it and you also waste the sellers valuable time. Learn a little more befor you post questions like this.
And before you run your mouth off don’t post topics like this:
http://www.reiclub.com/forums/index.php/topic,39352.0.html
And act like you know all about wholesaling when you are a newb and come back and smart off to me :rolleyes
And one more thing don’t act like you know crap when you are beginning to get into this business as me :argue
I asked a basic question if you can’t contribute than STFU.
I agree completely.
Why would you not wholesale another wholesalers deal if there’s still meat on the bone after your fee? Tons of deals are done by NETWORKING with other investors. You then have three happy people: 2 wholesalers and an end buyer. Not every deal ends up closing, but buying from another investor doesn’t change that one way or another IMO.
That’s what I was thinking so as long there is enough meat on the bone for the investor to still make a very good profit than why not.
I’ve seen wholesalers wholesale deals that have huge and I do mean HUGE amounts of equity so once again why not get a piece of that pie.
The real estate business is a team sport. I partner with other wholesalers so that we can blast each other properties out to each other’s buyiers list. In the end, we have a loyality and respect for one another. If it sales great, if it doesn’t we move on to the next deal.
I guees I have to post an appology for saying what I said earlier. From what I understand people who wholesale other wholesale deals just ruin it for the end investor because there is not profit left for them. I guees our ideas of wholesale are different. If there is still meat left on the bone for another wholesaler to walk away with $5,000 profit leaving the end buyer with 30 thousand after sale, then I did not do a good enough job for my self. Why would a wholesaler ever leave room for someone else to just pass on their name and make a couple thousand for no work. If I ever wholesaled someone elses deal I would feel cheap and not worth the money I made (beacuse all I did was sign somone elses work). You can do what ever you want. just posting a thought. I am sorry for bashing you in the earlier colum. Hope you for give me.
Joey
I have wholesaled deals to other wholesalers many times. You can use lease options if you don’t have a close working relationship.
If you have a close working relationship, then it get’s really fun because you can make an extra 2-5k for making a phone call and connecting a wholesaler with another wholesaler.
If you wanna get really tricky with the equation as I have in the past. You set up an agreement with wholesaler #1 that once you introduce him to wholesaler #2 , if they do any future deals together you ALWAYS get a percentage…It sounds impossible until you look closely at the situation. Wholesaler #1 just wants to wholesale a home, wholesaler #2 just wants to buy a home, so basically everyone’s happy.
As a middleman you are providing both of them with an opportunity that they would not have had without you around…There is A HUGE amount of value in that.
Good luck
It’s cool :beer
Why would a wholesaler wholesale to another wholesaler? A wholesaler is a middle man providing a deal between a distressed home owner and an investor. If a wholesaler wholesales to another wholesaler then what do you think 2nd wholesaler is going to do. He is goin to assign the contract again just to make his profit. That or try to pass it on to a buyer who will say no because “wholesalers” have passed it around till there is no profit left for an investor. :shocked To me this sounds like a complicated form of cash gifting. I am sincerely sorry if I sound rude I am not trying to be. My intention is to get legitimate information. From what I have learned this techniue screws everyone in the end except the middleman aka(you). A wholesaler should want to help the distressed home owner out of their situation and help an investor find a good deal. I have a gentleman on my power team. He is in the actual business of renovating houses and he says he cannot afford to do business with wholesalers because they leave him bareley any profit.
If you have end buyers yourself and the wholesaler doesn’t have many than I don’t see why he wouldn’t want to partner up with you especially if you have a bigger buyers list than him.
Also you can do a technique called Flex Options which is similar to an assignment contract but gives the seller freedom to continue to find a buyer without being bind by a normal assignment contract.
Ok that flex contract sounds interesting. But teaming up and assigning to a wholesaler are two completely different thing’s. When you team up the normal assignment fee is still in play. When you assign to another wholesaler you are taking an assignment fee and so is the next wholesaler. Now instead of one person taking $5000 out of the deal you have two people taking out $5000. Significantly shortening the end buyers profit. (He actually deserves it for renovating the house or doing what ever he does to it.) As previously stated by other people I am no expert by any means. But dont consider me incompitent because I am inexperienced.