Wholesaling a seller/owner-finance deal?

[Reginald S.]

Hello all I'm a newbie wholesaler and would like to know how to go about buying and wholesaling a deal where the homeowner is offering to do a
owner-finance just to make the deal work for my end-buyer. How and/or when do I collect my assignment fee from my buyer is what's confusing me the most?

Also she owes 40,000 on the house and it comps somewhere in the neighborhood of 165,000. I know that she's going to need at least $40,000 cash to pay off her existing mortgage. How do I structure something like this?

Please help...

Thank you much in advance for all of your expertise.
Reg Jr.