Working with a realtor

[Myles Kamara]

I'm currently working with a realtor on a property that I'm planing on wholesaling and wanted to get opinions and advice on how I should proceed. I've done my research on how one can work with a realtor but since this is my first time and potentially first deal I wanted to reach out to hear the opinions and advice form other who either have done it before or are realtors themselves. My biggest concern is honestly finding cash buyers who would be interested in buying a property that's on market since I know most buyers target off-market properties. Thanks for the feed back!

[Will Barnard]

Quote from @Michael Dumler:

@Myles Kamara the reality is properties listed on the MLS are not wholesale deals, hence, why most successful wholesalers go under contract on off-market properties. Furthermore, a good listing agent is not going to mess around and will certainly ask for POFs. Maybe have your real estate agent send you expired listing that you can target. I'm still not sure how you would bake their commission into the assignment of the contract, that's outside of my wheelhouse. Hope this helps!

This is a good answer, wholesaling is all about finding a motivated seller so you can purchase a property for well below existing current market value and pass most of that value off to the investor buyer and you keep the other (albeit most wholesalers seem to be greedy these days and want to take the lion's share of that spread).
If you are attempting to do your first wholesale deal, then working with real estate agents on listed properties will likely have you spinning your wheels.

To answer this question above, "I'm still not sure how you would bake their commission into the assignment of the contract, that's outside of my wheelhouse. Hope this helps!" - The agent's commission would be paid out of the seller's side of the transaction as would be the case in just about all transactions, your wholesale fee would be paid by your end buyer.

Your biggest concern of finding cash buyers - this should be your least concern at this point as you clearly need more education on these transactions before proceeding. Finding cash buyers is the easiest part of a wholesaler's job which can be done by getting a list from any RE agent or title company of all cash closed transactions in your target areas where the buyer was an entity and that entity purchased at least 2 deals in that calendar year. There is your proven cash buyer, rinse, repeat and make contact with them. The most difficult is finding the real deal which is a marketing issue (wholesaling is a marketing business, not real estate investing no matter what the gurus tell you).