How To Find Wholesalers In Chicago

[Darrell Essex]

I’m a new investor and I’ve spent the good part of 2022 combing the mls breathing in untold amounts of mold, putting offers, getting inspections to find more structural damage raising total investment to more than the arv. So before I go and try to wholesale my own deals and before it’s too late in the season to find renters to move in this year after works done I figured I’d see how people go about finding wholesalers. I’ve checked meetup but all the meeting have 2 total people attending including the host so doubt I’ll find many connections there and I went on Facebook for some reia’s and all the posts are years old so just trying to get steered in the right direction. 

[Michael K.]

You should know that you are up against a literal army of real estate agents if you try to be a wholesaler. Agents are also doing mailers, knocking on doors, and cold calling up the wazoo. Moreover, agents are highly discouraged from doing what wholesalers do (net listing agreements). A net listing agreement is when the seller and the agent agree on a sale price upfront and if the home sells for above that amount then the agent pockets the overage. So despite having to pay a percentage to a realtor at least the relationship is transparent. Not saying you can't make money as a wholesaler but you should at least know what you're up against.