Co Wholesaling How Do I Work Out The Logistics !!!!!

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Walt! good to see you here. You will be able so co wholesale by first creating the postlet for your buyers(but if not if they other wholesaler has created one already, it would be a duplicate, just use theirs if they have one if not then create one)

You check the #'s(but is it a rental or flip? bc doing the #'s is diff for each)

Flip=take ARV less 15% transactional costs, then less rehab then less profit for flipper, then less your profit & other wholesalers=where purch amount should be.

Rental=ARV, take purch price + rehab & that is final price for buyer & see what % of ARV you are to put on Postlet, find out rents for hm thru Zillow, clist, call 2 prop mgmnt co's, put on that postlet

To be included on HUD 1 you send the assignment agreement with your name on it & the other wholesalers stating you will split the fee & that is turned in to escrow so you get paid, also tell escrow where you want check mailed or wired to your account.

That is how I do it, & I am wholesaling my 7th deal tomorrow or Thur I believe! and in CA!!!!!! yea baby! Go faster do more!!!!!!

i really appreciate it !!!!!!

found 3 closing attys thru the pres of my reia. so i need to check them out and see if they will dry close for me.

If the person your co wholesaling with has the property and your just providing the buyer I would just write out an agreement where you and the wholesaler with split the wholesale fee 50/50. And make sure you and your partners name is on the wholesale agreement for your buyer. If the co wholesale who has the property doesn't have a postlet created I would just create one if I was you to provide the deal properly to your buyer.

you gotta love this place ask you shall receive

WALT

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we are going to get this done

any more ideas from those who have co wholesaled

thanks,
walt

contract actually a pkg deal 3 houses for 20k. I know of some people that might want to buy and rehab them. also 2 other sfr rehab properties.

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Walt! Awesome to see you taking action that is what it is all about!

OK so here is what you do. These deals that this other wholesaler has, create a postlet & send it to your buyers-which you have video's on how to do that in 4 weeks to freedom(since i know you have it)

when your buyer is ready to get the deal, just have the other wholesaler or yourself include you in the assignment contract as getting half of the wholesale fee.

You want to try to keep your buyer from having contact with the other wholesaler so they don't go around you but honestly it is hard sometimes-what if the buyer wants to go see the house & the other wholesaler is there etc.)

I wouldn't worry about-it is worth the risk of getting paid as to not even having a chance. HOpe it helps.

i reaaallly appreciate it man.

In my area there are plenty of wholesalers, or maybe at least I've found them because I'm searching. I've done a few co-wholesaling deals and at this time it's usually just a verbal agreement between us. Many wholesalers do this, but you could have a written agreement.

And I hear lots of people here talk about splitting the deal 50/50, but usually the person who has the property under contract will tell you how much they are willing to give you out of the deal if you find a buyer. Sometimes I see a good deal from someone else that I want to advertise and I ask them "Is there enough margin to give me some if I find a buyer or do I need to add on top?" Sometimes I take their price if it's low enough and add a couple grand on top.

If the contract holder has a really good deal, why would he want to split that 50/50 with you... I'm just sayin'.

When I advertise a deal that is not mine, I just act as if it is. I also don't do as much advertising like on postlets which post everywhere. There can only be one ad for the same property on zillow. I mostly just sent to my buyer's list or I might put an ad on Craig's List.

I had a property in a lousy area once that needed a whole lot of work. I couldn't sell it for $45K, but some other guy sold it to his buyer for $53K. I made my money from my price and he added on what he wanted. Several people got paid out of that deal.

MB yea you are right I agree. That too, you can add on to the buy price our fee if the wholesaler doesn't want to or there is enough spread or you have a buyer that will pay more for the deal-i forgot to say.

good that you reminded us of that MB thanks.

Alright Walt-let's go take action & make offers!

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