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Updated over 8 years ago on . Most recent reply
Co-wholesaling
I want to know does anyone co-wholesale and if so how is it structured so no one gets crossed out? I have a deal in my area that another wholesaler has a buyer, and it turns out he has two places that I have buyers for in his area. I just want to make sure we both DO THE RIGHT THING. This could be great for all parties if done correctly. Any advise????
Most Popular Reply
Great day @Quinterrius Eatmon!!! Yes co-wholesaling is alive and well. I have done a few deals structured that way. PM me for the Wholesale JV contract that I use. Always have any type of contract reviewed by a local attorney. Definitely have him sign JV contract before allowing him to advertise property to his buyers. Split is negotiable. I normally do 50/50 or 60/40. Make sure you stay in contact with his buyer's title company throughout the whole process. Include in contract that you must be presented with copy of HUD before closing. Submit your JV contract along with assignment contract and purchase/sale contract to closing attorney/title company. Title company familiar with assignments should have no problem handling this for you.
I wish you the best!!
Sincerely,
Eric H.