Wholesaling and Owner Financing

[Sylvia Grimes]

I have a wholesale deal which needs a complete rehab. Its most likely a buy and hold deal for an investor with a 12.8% cap. I've been getting a lot of offers from people who have inquired about owner financing on the deal.

My question? If the owner agree's to this type of transaction is there a way for me to structure the deal where I can collect my wholesale fee, and move on without being the middle man for the duration of the agreement (note, etc.)?

[Brian Gibbons]

The key is

1. get the deed w sub2 and a note for seller's equity, if any, now you own it, thenfind a JV partner to pay for rehab, like a doctor, and split the profit.
2. Then sell it.
3. Then split profits after doctor gets paid back every cent,
4. split does not need to be 50 50.
5. Have a JV agreement drafted by good civil contract attorney.