How I Wholesale Houses Not Under Contract (This May Surprise You)
Hey, JP here…
My honest answer to a pretty common wholesaling question recently seems to be throwing some people off-kilter. I guess it sounds somewhat controversial to some?
I dunno, you tell me. Here’s the question, which came from Kenneth:
“Help! I came across a property I think is a good deal and put the deal to a couple investors. One replied for the address. I don’t have it under contract. Will the investor be able to cut me out? The asking price includes my profit. Any help would be appreciated. This would by first deal.”
Another juicy (larger) question came up in our answer to Kenneth—which led to my honest answer that some are finding surprising:
Can you try to wholesale a property even before you have a contract on it?
My answer: Yes…kind of.
Ahhhh, the art of ambiguity—that uncomfortable place where things can mean one thing or something totally different. When it comes to your business, ambiguity can often be downright scary, and other times it’s the space where you can make magic happen—make something profitable out of nothing.
And that, my friends, is when ambiguity is a beautiful thing.
I’ve been successfully wholesaling properties for years now, some of which were effectively “pre-wholesaled” before I even had a contract in place. It’s all in a tried and true technique I call the “ambiguous soft pass.”
Listen to our back-and-forth on this below and see what you think:
So… there ya go.
Now you know exactly how I go about wholesaling deals to cash buyers, sometimes before I even have a solid contract in place.
What do you think?
Am I on to something (for years and years of successful deals now)? Does this tactic sound awesome or iffy to you?