Good Morning, I’m a part time Realtor trying to get into wholesaling (I have another full time job). I have my first property under contract, and have a buyer for it. I created a quick llc and would like to sell this investor/buyer the llc to avoid a double close. I have no idea what I’m doing :slight_smile: I don’t want to chance the deal falling apart at closing, by adding this new buyer/member to the llc and have them sign at closing. I know that some title companies would have an issue with that. I was thinking if I close in this llc, and use the member that originally signed the sales contract (my friend), I could turn around right after closing and take his info off of the llc and add the new buyer/investors info to the llc, collect my fee, and transaction complete. So basically I would add this member after closing instead of before closing to avoid any unwanted attention or red flags from title or the seller. I’d loved to hear from a wholesaler that does this… I was also looking for a solid operating agreement specifally designed for this purpose, if anyone would be willing to share (I know I should probably have an attorney draw one up for me). Anyways, I think this would be a great way to make a living. If I could wholesale two or three deals a month, and also get paid a realtor commission on each one, I could quit my job at Conoco. Great site, thank you in advance for any help.

First with you being a Realtor you must disclose what your interest is in the deal if you plan on wholesaling the property and making a profit.

2nd you can use an llc and sell it to your end buyer for a profitI.
If I were you I would be transparent with your buyer and let him know what your intentions are.

P.S. The easiest way to do this is just do a simple assignment from your friend who signed the original sales contract to the end buyer. Draw up a marketing fee agreement with your friend to make sure you get whatever fee you guys agreed upon in the deal.

Hope this helps