Co-Wholesale?

[Kevin Cardinale]

Co-Wholesale?

I joined a REI facebook group. After introducing myself, I received a message. "let's co-wholesale deals in Las Vegas, I'm in California". After I ask him what does that mean, he says,

"For example! 400k property I found for wholesale, you bring cash buyer that pay 3% for wholesale. And we split between. When you find we can do same way. If my cash buyer bought the property we split the same."

First of all, if all we're making on a $400,000 house on a wholesale deal is $12,000 to split 2 ways, seems rather ridiculous.

Secondly, the entire thing sound preposterous. Why would I need him, or why would he need me?

Thirdly, I don't know this guy, and neither does he me.