Fort Worth, TX · Member since 2014 · 27 posts · 5 votes
Good evening everyone,
Does anyone use wholesalers as a viable option for buy and hold real estate? I want to use the Buy, Rehab, Rent, & Refi. strategy for my next property. Seems like you are trading money for time when you use a wholesaler to acquire RE. Any flaws that I could be over looking? Any Advice? Thanks for taking the time to read and your responses our appreciated!
Financial services executive · Frederick, MD · Member since 2015 · 609 posts · 341 votes
10y
Go read everything on here about how to be a wholesaler. Then be a wholesaler, just buy them for yourself with your own cash. That's my advice. The guy that ripped me was using the "we buy ugly houses for cash" stuff (of course he had and has no cash) and tax sale records for his mailing list. Apparently this works - he's kept himself out of bankruptcy almost three whole years now.
Lender · San Antonio, TX · Member since 2016 · 1k+ posts · 1k+ votes
10y
@Jared May I think that wholesalers can be viable for rentals, and I don't think that they're all scumbags. Just like how you can find deals on the MLS sometimes, but wouldn't buy everything that was on there, a wholesaler can come up with a deal the suits your needs sometimes. I would talk to a few, tell them what you're looking for, and add them to your potential deal sources. You can also look at it as paying the wholesaler instead of paying for your own marketing.