Why do wholesalers post photos of their checks on FB?

5 Replies

I am a member of various wholesaling groups on Facebook, and always see wholesalers who love to post photos of the checks for the deals they did. Why would I ever want to do business with someone who posts photos of the checks? I never want people with whom I do business to feel that I'm taking unfair advantage of them--it's a long-term approach about building a brand, for sure. I'm in business to make a profit, but would rather have strong potential for future business. One reason sellers sell through investors vs. MLS is that they value discretion--let's be thoughtful about that.

And, if I'm purchasing a home from another wholesaler, I hardly enjoy having that wholesaler post about his/her profit on our deal. I don't really care if that wholesaler makes a lot or a little on the deal as long as it works for me--I just want the business transaction to have minimal publicity. Am I off base on these opinions?

Sounds like they're ego hounds. I agree with you; much like football players who go crazy when scoring a touchdown, these folks should "act like they've been there before".

A little, yes... your sale still gets reported to the state regardless of if it flows through the MLS. I think your logic on why sellers sell to investors is flawed... it has little to do with "discretion" as you implied and honestly I have never even heard that suggested.

That said, posting checks is just plain tacky... do I post my W2 salary on FB?  Why on earth would I?  I mean, I'll talk about it with anyone as I think discussing money helps everyone... but to push it on people who may not be comfortable is just silly.

To your point on profit... I agree... as long as everyone is happy it doesn't really matter if they made 10% profit margin or 80%... it's a commercial transaction.  When I buy something at Walmart I don't really worry about what the cost basis for the product is, I simply ask if the price they are requesting is worth it to me... if it is, I buy it and everyone wins (presumably).

Originally posted by @Brooks Rembert :

Sounds like they're ego hounds. I agree with you; much like football players who go crazy when scoring a touchdown, these folks should "act like they've been there before".

 In some cases it is probably more like the guys who go crazy when they make a tackle and their team is losing by 20 :)

I agree with the OP that it isn't a smart idea at all.  If you care about your reputation and business you should be telling everyone the great deal you got for your buyer after they have flipped or rented out the property.  That is the kind of bragging that builds a business :)

which wholesaler groups do you belong to? I never thought of searching for one on Facebook. 

You do know you can use your computer to design and print checks and a good photo copy of a check can be changed.

Most do not understand business, much less the real estate business, keep you target on ethical, long term growth. Wheeler dealers will be long gone as their reputation catches up with them. Good luck :)

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