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Updated almost 8 years ago on . Most recent reply

User Stats

13
Posts
2
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Shante Gaines
  • Louisville, KY
2
Votes |
13
Posts

Wholesaling distressed property already under contract

Shante Gaines
  • Louisville, KY
Posted

Hi, I have a what I seem to think is a rather good question. I've study the wholesaling aspect of REI but I have yet to see lots of information on what to do or how it works if another wholesaler contacts you with properties they have under contract that they are asking for help with/ Whats the procedure on something like that? Is that even possible? What kind of contract would I have to have in order to make sure everything goes as planned and I find a cash buyer who is willing to buy? I've read little info explaining not alot against it is this one of those things you dont advise to do? Thanks any advice is greatly appreciated

Most Popular Reply

User Stats

488
Posts
363
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Paul Amegatcher
  • Rental Property Investor
  • Brookville, OH
363
Votes |
488
Posts
Paul Amegatcher
  • Rental Property Investor
  • Brookville, OH
Replied

I usually just sign a joint venture agreement but I like @Jasmine Norris idea of being included on the original contract.  I have not been screwed over on any joint ventures but you never know how people may act when there is money involved.

  • Paul Amegatcher
  • Loading replies...