Wholesaling to Retail Buyers - Phil Pustejovsky

[Kyle Cabral]

Man, do I like this guy Phil and his videos and I'm definitely buying his integrity and the fact that he really cares about people learning and succeeding.  But obviously, he's a business man, a very successful one at that so he knows how to make his money and his 50/50 strategy really is great for people who want to go that route... Just feel like with hard work, research, and using mediums like bigger pockets I'm in control of my own real estate destiny.  That being said... there's one concept he threw around in this video, that is very interesting to me.

Basically he says people leave money on the table far too much with respect to wholesaling and don't have to reinvent the wheel. Get a property under contract and since you have equitable interest, there's nothing wrong with listing the property and basically collecting the difference as an "equitable interest" fee. By using the MLS and other sources, you can get a far greater return.

My question, how does this look from a contract perspective? Are there people actively using this strategy and if so, how is it done in a clean transaction?  My thoughts...

1. Locate motivated seller, get property under contract and gain equitable interest with your $10, $100 or whatever deposit

2. Based on region, MLS network, etc. ensure there are no restrictions and that a non-owner can post a listing on MLS. So the language on MLS is "seller" as opposed to "owner".

3. Find a buyer and .... what's next : )