Wholesaling Off Of Redfin

[Gabrielle Woodard]

Had two wholesalers market the same property to me and this morning I was on redfin and came across the same exact property for a difference in listing price of about 20,000, and it had an MLS#. From what I read its not right to wholesale a property off the MLS. I think this makes it harder for wholesalers who do the work and effort to find properties to work and get a bad rep.

[Steve K.]

@Gabrielle Woodard   One filter I use on differentiating a real "wholesaler" and someone who's pretending, is to ask the question "Do you have the property under contract?"

If the answer is "no" or "don't know", move on.

A real wholesaler who has a real workable deal will have the property under contract already.  Most likely with some of their own money involved.  It could be, $10, $500 or $2000 of earnest money.  Earnest money can be refundable.  If it's such a good deal and they believe it so much, then they will be willing to put the property under contract.