OfflineCan I lock up a property from another wholesaler and then assign to end buyer? How would that work? So it would be the seller to the first wholesaler to the second wholesaler to the end cash buyer. Can that work? Is there a different purchase agreement involved? Thanks for any input!
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This is what is know as a Daisy chain. I would avoid it. Just put your buyer together with your fellow wholesaler for a fee. I do this all the time.
Mentoring/Team Building
Michael Mangham
MD Home Acquisitions LLC
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Typically, if you bring the buyer to your fellow wholesaler (if they are willing to do this, and most of the time this is absolutely do-able) ---then you all split the assignment fee (he brought the deal, you brought the buyer).
If there is room in the spread, you could talk to your wholesaler friend about putting a higher assignment fee on it so that there is more to "split" -----only if there is room of course. But since you are considering this scenario, I am assuming there is a little room!
Best of luck to you!
Louisa
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