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Updated almost 8 years ago,
Wholesale deal structuring advice.
Hey everyone. I've recently started real estate investing and I'm looking at getting my first wholesale deal under contract. I found a great B property that has both flip and cash flow potential. However, the owner doesn't want to move until the end of May so her grand daughter can finish the school year. This is raising a couple of questions for me.
Ideally I would like to go ahead and get it under contract and sell it to an investor with a provision in the contract that the owner maintains possession of the property until a specific date. Is this possible? I Would an investor even want a property they can't control for a few months? I can see an investor wanting to go ahead and secure a deal. However, I can also see someone who is financing with a loan not wanting to have an extra two months of payments with no cash flow.
Any advice would be greatly appreciated :)