How do you know when you truly can trust your cashbuyer ?

[Lynne Garris]

I am starting out and I do submit lots of good deals to one of my cash buyer. I probably submit 4 a day One was a 5 unit which owner cash flowed 308,000 from tenants which I told him every day to call make a offer. I would ask about my deals dailey he would say he had lots of properties to take care of. I am new at this and was with maybe 2 weeks so I need to move on. I noticed yesterday when I was looking at deals I submitted 4 were sold. I sent 3 in his area he wanted 2 days ago and he said I knew about these we are already making offers on them. A couple went for 103,000 foreclosure zestimate was like 140,000 near the water. As of yesterday I have 5 more new cashbuyers. How do I not know they are just taking my deals without paying me anything?

[Heath Ryans]

@Lynne Garris if your trying to wholesale, that's not how it works. YOU have to go make deals and get them under contract yourself. Then you send the deal to your cash buyers if it meets their metrics. If you flood their inbox with every listing on the market that they can already see and probably already get from a zillow email, your causing them more work than anything. It's your job to make those calls.

To wholesale. You find deals. You negotiate deals. You place great deals under contract. Then you mark up the price slightly and present it. If the buyer likes it, he/she will fill out an Assignment of Contract with you. That;s where your fee comes in. If the deal closes, you get the difference between what you put the property under contract for and the price your cash buyer paid.

Otherwise you are not owed anything.