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Updated almost 7 years ago on . Most recent reply
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URGENT Apartment wholesaling question
Hey BP fam!
I have a friend, who has his first multifamily deal. He has an offer from his buyer at 6.2mil + 3% fee , he was told by a friend that it is illegal too get paid a commission for facilitating the deal as he is not a licensed broker/agent. My suggestion was to have him do an assignment for the asking price of 6.2mil and reassign it to his buyer with the 3% fee included. He is a little nervous to change his strategy from a simple fee agreement, to now wholesaling the property because he doesn't know if the seller or buyer will be okay with this change, any suggestions? If he goes with the fee agreement will that be enough to get paid through the title company/attorney's office? Thanks