Working with other wholesalers Splitting deals

[Travis Carpenter]

In the event of another wholesaler bringing a property to me in search of a buyer, what is common practice after the first deal is done.

Basically what agreements do you other wholesalers make when for future deals after you split a deal and you brought the buyer to the table, since after the first deal they will know who your buyer is giving them the capability to go around me and use my buyer after our first deal.

Thanks in advance...

[Account Closed]

Here is my opinion on this matter:

Working with other wholesalers is one of the BEST and SMARTEST things you can do if you ever want to do a serious amount of flips. If you have this scarcity mentality where you think there is a limited amount of deals out there or if you think other wholesalers are out there to "screw you over" you're never gonna get very far in this business.

On the other hand, if you have an abundance mentality and realize that there will always be a plentiful amount of deals out there, and that working with as many other wholesalers as you can will benefit you more than you can imagine, you will be able to make soooo much more money in this business.

You can only flip so many houses as an individual wholesaler. However, imagine how many houses you can flip if you work with 10, 100 or 1000+ other wholesalers! Who cares if you have to split the profits with them. What's more? Doing 10 deals on your own and keeping every penny? Or doing 100 deals collaboratively and only keeping half? Its simple math. And who cares if someone screws you over on a deal. Suck it up, move on, and don’t ever deal with that investor again. It’s that simple.

What I do is I send my deals out to my buyers first. If nobody wants it then I send it out to other wholesalers and see if they can find a buyer for it. If they can, I split the profits with them 50-50. Why throw out a good deal when you can make half the money on it?

I only try to send out my deals to other wholesalers after I've tried to find a buyer myself. Partnering up with others on other deals is a great way to earn extra cash.

People doing deals together as a group can make a WHOLE LOT more money collaboratively than each individual person can make on their own.