OfflineOk. When you have a partner who has the property under contract and you are wholesaling it (with a flex option) to an end buyer that you have, and you've got the end buyer ready, how do you proceed with paperwork?
The scenario looks like this:
A -> B -> C -> D
A = the Seller
B = the origional Wholesaler
C = another Wholesaler (with flex option)
D = is the End Buyer
From what I think, you would Assign your flex option to the end buyer, make a PA with the end buyer. Then, send all papers to title company with everyone's info? Or, replace the flex option with a PA agreement between "B" & "C", then assign and make PA between end buyer and "C"?
I don't want to make this more complicated than it already is. How could you set this up so that everybody wins? Thank you.
You use the term "partner" ? Why are partners pursuing separate interests?
Becasue when someone else has a property they have under contract with the seller, and they send you deals they have (if you're not a buyer), you have chances to help sell their property and make some money along with him/her. In a way, you are partnering up with them. But, it seems to get complicated when you form a daisy chain to do it. I'm trying to find a way to explain it to someone who asked me the question. Basically they have an option to purchase the property and an end buyer ready to buy, but thety're looking for an easier way for all parties to win, and for the situation to not seem so complicated.
Just get a marketing fee from the investor that has the property for providing the buyer. Have them both sign a non circumvention agreement.
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
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