Nathan Payne shows wholesalers how to make money on JV deals by finding buyers for other wholesalers' contracts. He walks through a call with Amber about a Provo property under contract at $335K with a $15K assignment fee, covering how to negotiate splits, handle paperwork, and build relationships for repeat deals.
Welcome back to the channel, everyone. Today we're going to be talking about how you can help another wholesaler find a buyer for their deal. For a deal, you didn't have to go find the seller and negotiate all that. You basically just need to find a buyer. So let's dive right in and let's see if we can help you get your first deal from learning this strategy. Let's go. Before we dive into this video, let me talk to you guys about my free Facebook group. It's called Painless Flipping, P-A-Y-N-E-L-I-S-S Painless Flipping, just go to Facebook, join it, it's a free community, we got free resources, we want to help you succeed and we want to help you network with other investors in your market around the United States. So it doesn't matter where you're at, I'm sure there's someone in there that you can network with and meet up. So guys, let's talk about this video. What I do a lot, if you're new to this industry, basically I do what's called JVing and that's helping another wholesaler that has a deal under contract find a buyer. Now, what does this look like? Well, basically you would look at deals that other wholesalers have and you'd say, hmm, I think I have some buyers that would be interested. Or, hey, this is a good deal. Let me bring it to some people that I know that would want to buy it. Then you bring the deal back to the wholesaler and you say, hey, I have a buyer. We can either split this, the assignment fee 50/50 above what you have it under contract for. I can add my fee on top. Doesn't matter. You can negotiate anything you want. And then if the wholesaler accepts it, then you just write up some paperwork or they just pay you. Depends what you want to do, if you trust them or not. And you don't, you don't always have to do paperwork. I don't do paperwork a lot with other wholesalers. They just pay me because we've done several deals together. So what does the conversation look like? I'm about to show you right here. In a video where I recorded myself talking to another wholesaler. She had a deal in Provo, Utah, where she needed help finding a buyer. She had somebody, and I navigated that conversation talking with her about what we can do. You know, is it worth my time? Is, you know, what's the situation? This is how you talk with a wholesaler. You're just open and transparent, and you try to find out what's going on. So let's dive into this call and see what you can learn from it and how you can negotiate and navigate the situation with wholesalers when you're trying to bring buyers to their deals.
Let's dive in. Hey, Amber, how's it going?
Good. How are you doing?
Really good. So I wanted to get back to you. I have a buyer that's running their numbers and they're going to get back to me. We're just waiting. You said that you already have someone that's committed and they can close Monday.
Yeah.
Okay.
Of course, if we can close sooner or have something that's super concrete, like the night. Yeah, I'm just like, what? I feel bad for the seller in this situation. I don't want to drag them along. I want it to close, you know?
Of course. Yeah. So I'm curious, just because I obviously don't want to bring you an offer that's not better than the one you have, or it wouldn't make sense to work with me. Are they— what price are they doing? So obviously I know, you know, I got to do better or whatever.
They're at $350K.
Okay, so they're at $350K. So you have it at $335K. Is that right?
Yeah.
So is that— that's a $25K assignment fee, right?
So we have it at $335K. So it's $15K.
Oh, sorry. I did my math wrong.
$15K.
Yes. Yeah, and then I have like a partner in it, so we're just splitting it.
Okay.
Kind of tag-teamed this one.
Okay.
So yeah, we're just splitting the assignment fee.
Okay, so if I brought a buyer, I would obviously have to come in higher than $350,000, right? In order for it to make sense.
Yeah, or, you know, if they could close sooner, but yeah, they could come in a little higher than $350,000. And then if you wanted to add whatever, like if you wanted to take a, like a bird dog fee or whatever.
Gotcha.
If you add that on.
Yeah, yeah. Okay.
But I think the numbers are there, honestly. Like, you know, it's, it's close. It's close to like a 77. I think that the ARV could push— like, there's comps that support like high 5s, maybe 6, but this one is on a main road. It's not a busy main road, but it is a more main road than the comps are on.
Yeah.
So my buyers, you know, every buyer is going to try and beat you up, and a lot of them are like, oh, you know, I just don't see comp at $570,000. So it just really depends who's looking.
Um, totally.
Yeah, my buyer— and I get it if I'm conservative, like when I look for myself, of course, especially in Provo right now because the prices have kind of changed a lot recently.
Um, yeah, totally.
So I'll let you know. Um, I'll probably— I should let you know by the end of the day. They're just waiting. And if I can't do it, then obviously I'm at $350,000. Yeah, go with that. That's great.
Yeah, just let me know. And then if it, you know, if it doesn't work out this time, it's good to just have this relationship.
Of course.
You know, we always are bringing in deals. I probably really should buckle down and invest and build out my buyers list and have this whole operation. But like, I kind of like having my deals. It's fun for you.
Yeah, I totally get that.
It's worth it. Like, for me, it's honestly worth it.
Yeah, it's something you don't have to even think about. You know, you don't have to worry about it.
Well, exactly. When I have so much going on, it's just like, oh, it's kind of nice to know that somebody else is like assigning it.
I totally get it. Yeah, that's kind of how I felt when I was new. I was like, this is great. But then eventually, you know, you move on. But yeah, I'm kind of do the same thing. I have a giant list. I don't really blast out deals. I just reach out to my key top buyers and, you know, kind of get their feedback. So I've reached out, got some feedback on some that just aren't interested or the numbers don't make sense. But I'm waiting on one. So yeah, I will keep you posted. And if this one doesn't work, yeah, let's— many more. Anything you send me, I can at least get you an offer on or tell you yes or no.
Okay, that sounds great.
Cool. All right, well, I will— all right, Amber, appreciate it. I'll get back to you as soon as I hear back.
All right, thanks, Nathan. Yeah, bye.
That's a wholesaler that sent me a deal, and I'm sending it to one of my buyers, see if we can get a deal done. They're running their numbers right now, so let's see if we can get a deal done.
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