possible buyer and seller

[Jason O.]

I met a guy at club meeting. He said wants 4 family apts to rent out. He gave me what he wants with rent and profit.

I found a 2 family apt with the financial parameters he wants.

Do I ask the end buyer/investor if he's interested first? ...then put the home under contract? I haven't seen the property yet either. Should I go over and take pictures and then show the buyer? What do I do?

[J Scott]

If your goal is to wholesale the property, you should put it under contract *before* you have the end-buyer look at it.

To get to that point, you should:

- Go look at the property yourself;

- Get an idea from the seller about what you can purchase it for (pre-negotiate);

- Talk to the end-buyer and ensure this is the type of property he'd be interested in.

Once all that is completed, and assuming it sounds like the end-buyer may be interested at a price you can likely provide, then try to negotiate an option contract with the seller.

Once you have have an option contract (or a contract with an appropriate escape clause), then take the end-buyer to see it.