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Updated over 8 years ago, 06/05/2016
Suggestions on how to hide my wholesale fee
I have a deal the property is uc for 600,000 I have a buyer for 650,000 I know 50k is a lot to swallow for some buyers if I double close after my realty transfer tax and my flash funding costs and expenses I am looking at 18k in costs. I am thinking about just assigning. I wanted to know if anyone had a creative way to conceal what I was making until the buyer puts down the 50k non refundable. The seller has 30k as a deposit from me and I am only liable for the deposit so if the buyer gets mad about the 50k I am OK. So anyone have an idea on how to keep what I am making a secret until the assignment is signed with his deposit in my account? One investor said he will have the buyer sign a separate contract as if we are double closing and then after the deposit is made just suggest they do an assignment instead. That way his deposit is tied up. Only problem I see is that he might try and ask for a reduction in price knowing the cost of a double close. Any ideas would be great