I’m thinking about working for a wholesaler

[Robert Sutton]

I am getting laid off my w2 job here in a few weeks. I also have a active real estate license in Texas. Im thinking about going to work with a buddy of mine who works for a wholesaling company. He said you get 20% of the assignment fee. I figured I might as well since I’ll have some unemployment and and severance pay to get me by while I grind for deals. Does anyone have any advice or thoughts on what they would do in my situation. I get listings here and there from an investor friend of mine who does fix and flips. He is strongly urging me to learn how to do this as well.

[Vince Mayer]

Nope! You make a lot of generalizations.The wholesaler can make many different types of offers especially if he has multiple buyers and or funders. There is no reason for any wholesaler to not follow through on a contract unless the buyer hid a lot of problems. Even if problems are found the offer can be revised to resolve those issues. I don't know why you say there's no intent to execute the offer given. Sure there is or the offer wouldn't have been made. Wholesalers don't just go around and make offers and then say, "just kidding."

You may have met bad wholesalers and I have met bad agents but I wouldn't say all agents a bad.

BTW, you mentioned a service agreement and that your buyer pays for it. That's basically wholesaling! My buyers don't sign a servicing agreement but if it's assigned they sign an agreement to take over the contract. My sellers know I have private funding or that an investor is buying. They know I don't use my own funds and understand that because they didn't use their own funds to buy their home.