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Updated almost 5 years ago on . Most recent reply

User Stats

706
Posts
171
Votes
Joshua D.
  • Rental Property Investor
  • Pittsburgh, PA
171
Votes |
706
Posts

How to wholesale? Am i doing this correct?

Joshua D.
  • Rental Property Investor
  • Pittsburgh, PA
Posted

So honestly don't do wholesaling at all unless i would have to. So i found a deal recently out of my area from where i usually buy for $195k. Supposed to be worth maybe $230k. So i got under contract for $195k and had everything lined up to put on MLS for $230k and thought i told my realtor not to say what we would list it for but she told them i believe and they said they wanted it gone fast and didnt want to wait around and they would have listed it with a realtor if they knew i was doing that which i told them but they didnt want to wait around which for maybe 215-230k maybe would have sold fast and they get there 195 but they just backed out. I was gonna pay realtor fees from my end and closing costs and what not. Did i mess something up? How do you correctly structure a wholesale deal? i have it where i get it under contract and its assignable and i was gonna put on mls like im seller but with mls i think realtor needed them to sign to put it on. Then when we found buyer i was gonna have them sign a new sales contract where im seller. What am i missing?

  • Joshua D.
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