Wholesaler Advice?

[James A.]

I was listening to a pod cast and the gentleman was talking about making offers on mls listings and turning around then selling them to investors.  My question is if you are trying to wholesale do and make an offer can you assign the contact or do you have to close on the property then resell it to the investor.  Do agents in the industry frown upon this or are they general ok with it?  Thank you for all the help and any advise!

[Jim Sakalis]

James,

I am not sure where this gentleman had any success in doing this method of purchasing for at least a couple of reasons;

1) Any smart investor is not going to buy a listed property for simple fact there are real estate commissions attached to the transaction. ( 3-6% ) 

2) A lot of agents would probably frown on that type of purchase because it is not done in the traditional sense.

Now here would be one exception to the rule; If the MLS listing was a foreclosed or HUD property that was listed at a wholesale price in the first place.

I would try and gather more information from this pod cast guy and find out a little more details on some of those unknowns.

Good luck, and hope you are on to something this could get interesting

Jim Sakalis