I have just finished my first flip , and have a deal under contract. I bought this home through at retail. Like they say , you make your money when you buy! Lesson learned , so next time I want to buy from a wholesaler. I plan on looking in Mobile, Al or maybe northwest Florida. How do you locate a wholesaler, and what are the pros and cons??
You post that you are looking for a house in Alabama or Florida on an Internet message board, wait 24 - 28 hours, and your inbox should be a flutter with wholesalers - both pros and cons.
Next lesson - not all wholesalers will being you a better deal than you can find on MLS ... in fact, some will try to bring you properties off the MLS ... marked-up of course :-)
Now, to be fair, there are excellent wholesalers out there who actually know how to properly analyse a deal and estimate rehab costs ... you just may have to wade through and trip over a lot of pretenders to find a diva.
many of these people are unlicensed and breaking laws to broker real estate without a license be careful who you trust if you are dealing with cheats don't count on being treated honestly or fairly
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