Wholesaling a wholesalers deal

[Martin Bastida]

I’ve ran upon a deal that is being marketed by a wholesaler in my area. I ran the numbers and at the price he’s asking, I’m confident I can find a cash buyer who would be willing to pay more.

I’ve spoken to him and explained I’m a wholesaler myself and he has no problem with it as long as he gets what he’s asking for.

My problem is I’ve never done a deal where I wholesale another wholesalers property. Any advice on how I should go about this?

[Brandon Vukelich]

It's called daisy-chaining a deal.  You should connect with the wholesaler that owns the contract and make sure the assignment agreement to your buyer includes your fee on top of the 1st wholesaler's fee and has language in there instructing escrow/closing agent to disburse your funds directly to you at closing.  So if his wholesale fee is $10k and you charge your buyer $10k more, the assignment agreement to your buyer would state $20k with instructions to cut checks $10k and $10k as appropriate.  That's the best way I can quickly summarize in a forum post.  Hope that helps.