How to wholesale this deal?

[James Baldwin]

Hey all, newbie here,this one got me a bit stumbled. To keep it short:

The owner wants to sell his home. He owes no mortgage. The property is listed with agent for 150k. He isn't interested in owner finance(as of yet). Property required literally no repair and ready to move in. 

How to go by wholesaling this or a good reason to negotiate owner finance?

Or better yet, a better idea?

Thanks.

[Dan Maciejewski]

Originally posted by @David Frandsen:

@James Baldwin I would subtract out commissions and closing costs and show him how much cash he will walk away with if he sold with an agent. Then show him how much he will make if he sells to you with owner financing. 

 I'm pretty sure that's the literal definition of tortious interference with a contract!

The way to wholesale it (and don't laugh -- it's been done at least 6 times in the last month in my market), is to buy the property and then sell it at a higher price. That's actually how wholesaling works when done correctly. You may not even need a discount off the current price, even if it's at FMV.

You can't re-sell it for higher than it's being offered at while it's listed for sale.  Anyone with half a brain would buy it from the owner at the price (or close) it's offered at.  In this market, there are many offers over ask, but those are not through wholesalers!