Partnering on a wholesale deal

Hello All,

I am new to wholesaling i pretty much watched alot of youtube videos, read alot and went to a Rich Dad 3day training course (spent $200) and im trying to get started wholesaling. I ran accoss a sign in my neighborhood, this guy is trying to wholesale a home using a bandit sign. I called him and asked him if i brought him a buyer would he be willing to split the assignment fee. He agreed. I dont have a buyer but i went on my city’s assesor site and search by my neighborhood for owners with an LLC. ( I found about 7) I plan on sending them a letter to ask them if they would be interested in our property. Is this a good start? I want to make sure im on the right track as far as my thinking. Also, how to I protect myself from getting cut out the deal once I find him a buyer. Any help is much appreciated. Thanks :slight_smile:


If you are looking to find a buyer that is not a bad place to start to find a buyer. You can also use craigslist to market the property. On craigslist market your property as a for sale by owner. You can also use to market the property as well, which is also a free service. Postlets will give the property tons of exposure, b/c it syndicates it out to different real estate sites, such as oodle, hotpads, for sale by, etc…
Contact a Realtor and see if they will run a search for you in the past 90 days in that area where the property is located and have her find all the cash transactions that have occurred and see if there is anyway she could send you the selling agents contact info and get in touch with buyers that way as well. Also find out where your local auctions are occurring, you can find tons of cash buyers that way as well.

As far as you protecting yourself in the deal…once you have a buyer in place who is interested in the property reach out to the wholesaler and see if they would be willing to do an double assignment with you, meaning he assigns the property to you and you assign it to your end buyer. This way you have a legal binding agreement between all parties.

Another way this can be handled is if you write up a seperate agreement between you and your buyer acknowledging he will pay you a marketing fee. Both parties sign it get it notarized. Hope this helps. To your success from yours truly “Mrflipperhouse” aka “PrinceofWholesaling”! :beer

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Thanks Flippa

This is a good start I would start by building a huge buyers list and then getting them want they want. The method you stated is good. You can find buyers buy calling signs like you did also use online classified ads and search engines to find buyers. Also going to REI meetings and investors meeting and networking with flyers and cards is a good start. Message me for details on lifetime mentoring!

That is a good strategy… make sure you are protected though! everything in real estate is in writing!

Learn a lot about foreclosures in your area and homes before the sheriff sale and reaching those home owners. In addition meet the local investors in your area and network with them and get them on an email list. You want to be able to pair the two.