Wholesaling: Fighting through the misdeeds of others.

5 Replies

@Everyone

My question to everyone is how does a new would-be investor build cash reserves these days? 

I understand that some people believe that wholesalers are misrepresenting themselves.

If I as a wholesaler contacted you and said

"Hi my name is....and I am interested in getting your property is under contract so that I may assign it to someone who will later pay for it."

Would you even give me the time of day?

Seems to me that decent wholesalers are merely approaching you as a representative of the end buyer. Bottom line is the seller wishes to sell the property at an agreed upon price. What should the wholesaler be saying to ease the mind of the seller and prevent closing table freakouts?

@Troy H. , a very good summary. In general, I agree with your comment, "decent wholesalers are merely approaching you as a representative of the end buyer" ie. they already HAVE end buyer/s (or know where to get them)!

So, can you truthfully say: "Hi my name is....and I REPRESENT A NUMBER OF CASH PURCHASE BUYERS who are interested in buying properties like yours. I am interested in getting your property under contract so that I may assign it to ONE OF THOSE CASH BUYERS who will later pay for it"?

Yes, I know it is common around here for people to say "find a good deal and the Buyers will come", but, it is also far too common for those who don't start out with a Buyers List to ALSO not know what a "good deal" really looks like. You can guess the rest. Cheers...

Just look at it like you are giving the seller another option in getting rid of their house hopefully fast. I say that because most wholesale deals happen because the seller is motivated and NOT looking for top dollar. As long as the seller isn't locked into your contract for 10 years then you should be fine trying to make it a win win.

Originally posted by @Brent Coombs :

@Troy Hamlett, a very good summary. In general, I agree with your comment, "decent wholesalers are merely approaching you as a representative of the end buyer" ie. they already HAVE end buyer/s (or know where to get them)!

So, can you truthfully say: "Hi my name is....and I REPRESENT A NUMBER OF CASH PURCHASE BUYERS who are interested in buying properties like yours. I am interested in getting your property under contract so that I may assign it to ONE OF THOSE CASH BUYERS who will later pay for it"?

Yes, I know it is common around here for people to say "find a good deal and the Buyers will come", but, it is also far too common for those who don't start out with a Buyers List to ALSO not know what a "good deal" really looks like. You can guess the rest. Cheers...

 Thanks Brent. I agree buyers list should come first. Wholesalers get a bumb rap because of a few underhanded people.

Originally posted by @Nathan Paisley :

Just look at it like you are giving the seller another option in getting rid of their house hopefully fast. I say that because most wholesale deals happen because the seller is motivated and NOT looking for top dollar. As long as the seller isn't locked into your contract for 10 years then you should be fine trying to make it a win win.

Nathan thanks for sharing. Yes, I see it as the wholesaler helping a desperate person out of their situation.

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