Wholesale transaction but ending at Investor transaction.

[Annette Gutierrez]

So I have a seller I may be purchasing a property from and then selling to an end buyer. I do have an LLC. And would purchase in LLC name. I'm just starting out so I don't really have a buyers list. I know a few investors but their not interested. So I received a call from this guy says he needs a place. I tell him about the property. I tell him it's all cash, as is. He says he qualifies for loan but his boss will loan him the cash. So I'm thinking instead of using transactional funding saving me quite a few dollars I bring the boss on as an investor. Get the cash from him. Give him a promissory note. Instead of interest I will give him clear and marketable title to the property. The boss said he will then either carry paper or just rent place out to his employee. Everyone is in agreement. Does anyone see a problem with this scenario?

[Gilbert Dominguez]

Is the house you are looking at owned free and clear by the current seller?

Is the house in livable condition as is?

If The house it not in livable condition as is who is going to do all the of needed repairs and pay for it?

If the boss who is buying the house cash knowingly  and willing going to pay you a fee then be sure whatever agreement you sign is one that is legal. 

Sounds like you are making it more complicated then it needs to be simply assign your contract to the boss and let him buy the house. The price he buys it at should already account for your mark up as your fee.

Whatever the case I would recommend you consult with an attorney over this.

[Annette Gutierrez]

@brandon turner Please remove this post. Thank you!