Property Locator question

[Danielle Morris]

Hey Everyone! Just found the company I'm going to start working with to get started here in Atlanta. I've noticed that as a Cash buyer, the company I'm collating with doesn't want to buy from Wholesalers. And I keep running into wholesalers. Is there anything anyone who has started at this level can tell me about how to clearly identify investors, landlords, people who are willing to sell the property and not just the license to sell? Thank you!

[Michaela G.]

I can tell you this. At the height of the market in '04-08 - GA REIA was the largest REIA in the U.S., with +3000 members. Every guru came to this city to sell their seminars and books/tapes. There were so many newbies that for wholesalers it was the search for 'the biggest fool', because someone would buy whatever they were selling. I saw flyers with comps and suggested ARVs that made me almost sit down on the floor, laughing. But they would always find people to buy (and lose their shirt).

Anyway, so, a lot of us don't want to deal with wholesalers and waste our time looking at properties that they were offering. Or all the newbies, who declared themselves wholesalers, when they had no idea about renovation costs. So, 99% of deals offered by 'wholesalers' were just a complete waste of time.

That's just a little backstory about what you might be coming up on.