I haven't encountered a wholesaler yet. I have been buying through the MLS. Of my most recent properties bought, I may have been able to purchase the property up to 25k less than asking. Most of these properties didn't require much rehab, just started renting them out. Would I have been able to save more using a wholesaler? or trying to offer less/low ball a better deal?
I know the seller's agent is trying to get the best deal, but my agent who I have worked with many times already,doesn't really care on the amount but just wants to close and move on to the next property. So my agent before submitting an offer will talk to the seller's agent if we are even near a number. (I never tell what max I'll pay for a property to my agent)
Sounds like a good realtor. IMO I would call and get on a few of the local wholesalers lists and see what they have and run it by your agent. He should be able to tell you if it's a deal as long as he's honest. If he gets mad that you're looking for other properties without him well maybe he doesn't understand your goals.
Of course you low ball ALL MLS offers! You never know if you don't ask!
if it works, just keep doing what you are doing. are you buying them cash? because wholesalers usually want cash.
Wholesalers usually deal with distressed sellers which not all the time, but usually end up being distressed properties that need quite a bit of work. One thing you can do is network with wholesalers at your local REIA or call any bandit sign and tell em your buying criteria and looking for Rental properties. Some deals don't have enough room for a fix and flip. Doesn't mean its not a deal. If your dealing with a knowledgeable wholesaler they can structure a deal that could fit your numbers. Many options when wholesaling... Another thing you can do is target MLS properties that are on its last day of being listed. And send them your offers. Good luck
thanks for your comments, I will buy in cash if the property is a good deal. i will look into these wholesalers lists, maybe i can acquire a teardown and build new. who knows. thank you guys.
There are many ways of buying a property. Your realtor is doing a good job.
A good wholesaler will always have good deals. Whether they come from the MLS or through their own marketing. Look at wholesalers as just another way to get a property.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.