True?..."Wholesalers Try To Make More Money Than The End Buyer"
Chances are if you have done a few wholesale deals in your day, then you have heard someone gripe about the dangers of dealing with wholesalers.
Typical comments from someone that has been burned from wholesalers in the past include...
1. "Wholesalers try to make more money on the deal than I will" - Disgruntled End Buyer
2. "You guys just tie up properties and sell them for more money...anyone can do that"
-Disgruntled End Buyer and Real Estate Agents
3. "Your company will just tie up my property, never sell and I'll be left holding the bag just like the rest of them" - Disgruntled Homeowner and Real Estate Agents
Sound familiar? Reminds me of my dating life back when I was a single gentleman on the prowl. "All men are dogs"...."Guys just want to get in my pants"....etc.
One of the comments above was inspired by something I heard just this morning from a potential client. While I enjoy wholesaling here in Orlando, Florida, I do much more than just wholesale. I am a licensed real estate broker that sources deals from different channels, some of which happen to be wholesale deals.
Seems like when you try to run a legitimate wholesale business, there are many misconceptions of what good wholesalers do. Largely in part because many wholesalers don't follow the "5 Simple Commandments All Real Estate Wholesalers Should Live By" as outlined by Ken Korsini in a recent blog post.
When I started my company here in Orlando it was to help change the industry for the better and actually deliver good deals to buyers in need. Since one of my functions is as a wholesaler, I feel like it's necessary to spread the word about having good wholesaler etiquette.
I can't possibly be the only person that does wholesale deals that feels this way...or am I?