Real Estate Investor · Atlanta, GA · Member since 2008 · 19 posts · 1 vote
Right now I'm in the process of putting a house, in perfect condition, under contract. Seller is really motivated. She lives too far from her job and wants to move. Loan is 160k and the house appraises around 180k. Its in a small cul de sac and the house across the street sold in days. Is it possible for me to get it under contract and then partner up with a realtor to get it sold even though there would be no equity with which to pay the realtor?? I know that no investor would want the contract because there's not much money to be made from it but is there a way for me to make and money from it as a wholesaler. The house's condition and location makes it very possible for it to be sold retail and fast. Help please. Someone suggested a "reverse assignment".....whatever that is.
What market are you living in where retail houses are selling in days? Why don't you put it under contract, and then bring in a realtor to sell the thing, with you two splitting the profit 60/40. Then he walks away with $8k and you with $12k. That's probably more than the realtor would make listing the property himself. If the retail market is hot, then finding the deal would be more challenging. You took care of that, so you get 60% of the profit.
If the retail market is strong in your area, put the property under contract and then pay a realtor $100 to list it on MLS. You can also eliminate the realtor altogether and try to sell it retail yourself, keeping all the profit.