Hey everyone! My name is Ali, I've grown up around real estate my entire life through general contracting and I'm looking to learn from you all on how to be an ethical and responsible wholesaler.
I'd love to build long term relationships with like-minded investors, realtors, and wholesalers to break bread with and learn from. Bonus if you're also from Texas 🤘
Just put the numbers out there for them to see and understand.
If you are really a wholesaler, don't ever tell them you are buying the house. YOU"RE NOT. You are not even an investor (if you only wholesale.) You're a marketer, you're a facilitator, you're a money finder. If you're going to have an open house one day and have all your investor buyer clients come over to give bids, then tell the seller that up front. Don't call them contractors, or tell them you're getting estimates or whatever other idea you make up. Just tell them up front....the potential buyers are all coming over Friday at 1pm and give me bids by 3pm. I'll update you by 5pm.
Know your numbers and share them. Don't hide them. The secrets are what get you sued.
Never ever file a memo. If you bid too low and another unethical wholesaler comes in and tries to outbid you, bid better. Move on to your next deal. Don't screw people up. Think of how your grandma would react to a deal you did with her next door neighbor. If grandma wouldn't approve, don't do it. Be the solution, not the problem.