Re-assigning a contract form another wholesaler

What I have learn that when you are working with a wholesaler saleing their properties you what to have them signing a option to purchase contract and order for you to even look for buyer for his property that way you have some form of interest in the properties after that I'm somewhat in the same boat as you I want to know the next step where I am.

I partner with a wholesaler who agree on jv 50/50 split. We went into a option to purchase agreement. There is a possibility that I have a buyer. I advertise his properties for the same asking price he asked for not above that amount. Can I still re-assign the contract for my non refundable assignment fee from the 1/2 that I suppose to receive from the wholesaler/seller and request the remaining balance that the seller owns me or the full balance of the asking price the seller made? Please help.

Wholesalers & birddoggers

Greenscoll's picture

If you can help we are looking for Investment Properties in Charlotte, NC & Surrounding areas. Preferably

-SFR 3/2's or greater

-Homes older than 10 year's should be brick or block construction

-Gross minimum profit to exceed 15%

-A, B, C class neighborhoods; Mostly owner occupied, can be non-owner, mix of homeowners and renters, rental, clean and safe areas, blue collar, very flexible criteria.

-Price range $50,000-$100,000 (best case) will look at others, in general will look at all the above case by case.

-Will do light to medium rehab on houses.

-No pool or hazards

-If you can find deals we can pay you a birddog fee and our buyers want to purchase 100+ a month. We are working with 2 big buyers with more coming and we cannot find them enough houses to buy. Can you help? Thank you

Kevin Angle
KAinvestingllc at gmail dot com


Olu's picture

Can anyone else describe the process (contracts needed) for two wholesalers to work together?

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