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Updated almost 7 years ago on . Most recent reply

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TAYLOR BRANNEN
  • Homeowner
  • Austin, TX
1
Votes |
8
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Is finding wholesale property the best way to go?

TAYLOR BRANNEN
  • Homeowner
  • Austin, TX
Posted

I have been researching and saving money for well over 2 years now and I feel like I'm at the point where I'm ready to really find the right property and make a purchase.

I'm planning on using the property to rent out for cash flow also.

I'm wondering how I need to go about finding wholesale houses and with these houses what should i expect in terms of repair? I live in Austin,TX so if you are familiar with the area I would love to hear some insight into the market out here.

Thanks!!!

Most Popular Reply

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205
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Lamar Cannon
  • Investor
  • Austin, TX
112
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205
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Lamar Cannon
  • Investor
  • Austin, TX
Replied

Aaron Mazzrillo Being a wholesaler & flipper myself, I truly agree with you about buying from a reputable wholesaler. In terms of crappy deals, I think wholesalers (the ones I know and myself) find deals that our buyers want. Most wholesalers have a buyer's list full of different types of investors (developers, flippers, other wholesalers, buy and hold investors, etc) The deal may look great to one investor and horrible to another because they have differing exits & strategies. Believe it or not there are investors who buy at 80-90% in certain areas and cash flow the properties really well.

Not to say there are not crappy deals that get put under contract & sent out, but I think most have the right intention (or at least the one who are around for more than a couple months).

Personally, I've sent out deals that 1/2 my buyers think is a crappy one, while the other 1/2 are in a frenzy over it.

Wholesaling is a good way to get a quick check, but if dishonesty and inflated numbers are the path taken to get that check, the wholesaler's RE career is doomed. I prefer to get quick checks over and over and over, which is one of the smallest reasons I choose to act with integrity at every step of the way.

If you ever need properties in Austin, Texas call me and I'll take care of you and refer you to other wholesalers that will do the same!

Lamar

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