Wholesailing an Owner Financed Property

[Michael R.]

I have recently done some advertising and came upon a few sellers that have 20 - 40 properties each, looking to retire and will owner finance properties they have for me. While I would like to purchase as many as possible, my funds are limited and I was thinking maybe I could wholessale a few to raise capital to reinvest. How would this work? I am thinking I could sign the contract, then find a purchaser who would then pay the 10% down and also me assignment fee. The properties are below market value, fully rented in good condition. I am thinking this is not the typical wholesale deal, as the seller is financing, and that may be a good selling tool. If I can not find a buyer then I would just go though with the purchase, so my contract with the seller would be pretty soild with no contingencys. Has anyone done this before? :idea: