My intent is not to purchase the property, but to assign it to my end buyer.

It would be interesting to see the details of the transaction and how much information was not disclosed or intentionally misrepresented.

I see now, the basic difference is you have to tell the prices, not just disclose your intent to resell for a profit.Kind of a bummer.

I made it with the intention of knowing it would help others out.@ Kevin - Yes, I had contractors ready to go.

As you are probably also aware the type of activity, volume and intent play a factor in this as well.If you could be classified as a dealer then, I would recommend a wholly separate business entity for any passive activities you might have.

I think you're still confusing the terms "wholesaling" and "double close" (I addressed this in another post of yours as well)...Wholesaling is the act of buying or taking control of a property with the intent of selling or passing control of the property to someone else.

nope, not a joke.everyone here has taken the stance that i haven't paid rent because i'm holding back or trying to rip someone off. i actually agree that the situation is long overdue and i'm totally down to pay rent. i have a bank account that i've dedicated and make monthly deposits to so that i have everything covered. i do feel it's not good business the relationship i have with landlord and BOTH of us have obviously let this go on too long. i was naive to post this in a landlord's forum :-) but i wanted to be considerate and understand things from his perspective also. believe me i understand now. thing is, you all have painted me out to be the scum of the earth and in so many words implied that i'm both an idiot, dishonest and a vindictive for not squaring things away. i'm sorry that you are upset that there are no late fees in place and that our rent agreement is a verbal one. my landlord hasn't been kicking and screaming for me to pay up--we both are kind of embarrassed for putting this off for so long. so you can skewer me and make me out to be the devil all you want; go ahead and get your rocks off if it turns you on. but as a tenant, at least i'm upfront with everything; i have all the money to pay and no intentions of taking advantage of anything. the situation i'm in with my landlord is pretty extreme and not ordinary. we have fallen WAY behind on the accounting but are now finally taking the steps to resolve the situation. talks about eviction are silly since it's never even been brought up between us. paying $100K in late fees is ludicrous since this isn't part of our agreement. you're wasting your time with "real world" examples of what you would do if some darn guy didn't pay you for so long... for all the people making crude comments about me, calling me a liar and a joke--it's unnecessary and ill informed. i'm not a demon tenant refusing to pay rent. i've never held my landlord hostage by holding back payment. what none of you can understand is the simple reality of the situation--both landlord and tenant fell far behind on finances; tenant has all funds and intention to pay which is a lot more than can be said for any of you with tenants that have purposefully screwed you overit's obvious how you all feel regarding asking for some $$ off rent for the last couple months--I get it and I've taken note. hey guys, this is an internet forum, it's easy for you to say smart *** remarks about me without much repercussions. so if it makes you feel better to bash on me and take out all your tenant frustrations on me then by all means go ahead. i don't owe you anything, and if i did i'd pay you in full

If I offended you in the prior post, it was not my intention.

If your contract can't survive all kinds of mishaps, not only can you lose money, but you can easily end up losing big money or even end up with a criminal record, even if you had good intentions.

A letter of intent with a sale price might get my attention, but that would just be a phone call to my client and not an exciting phone call at that.