Structuring Wholesale Contract

[James Williamson]

I am a experienced real estate investor with a handful of flips to my name and few buy and hold properties. I recently started a mailing campaign and have too many potential deals to acquire them all myself.  I have a property under contract as the buyer being myself (or nominee) with a few potential investor interested in the deal. I am looking for insight on how best to move forward contractually? For example; do I close on the property and then resell it or do I just the current contract over to the new party? How do I best go about this without backlash from the seller. 

Thanks for any and all feed back!

[Raymond Lewis]

@James Williamson.   In theory the seller shouldn't mind you making a profit as long as they get the exact amount that you two agreed upon.  However I have seen instances where a seller will definitely feel "cheated" if you make a substantial profit (usually $10k or more).  If you stand to make more than $10k on your assignment fee you might want to consider doing a Double Closing to prevent the seller from seeing how much you walked away with.  You just need to make sure your title company knows how to properly execute this type of transaction.   Not all title companies are "wholesaler friendly".           I have an active wholesaling business in New England so if you ever need any help feel free to direct message me.