Good vs. Bad Wholesaler?

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Good vs. Bad Wholesaler?

Wesley Davis
Developer · Tampa, FL · Member since 2020 · 84 posts · 59 votes

After reading several articles about wholesaling one thing seems to be consistent, wholesalers have a bad rap. Why is that? 

I am looking for stories/information on what creates a good wholesaler and a bad wholesaler? While I am new to wholesaling (SW Florida) I am not new to the construction industry (10 years). 

For those wondering, I do have a formed LLC and all the proper contracts through our RE attorney. I will be conducting honest transactions with the goal to help both the seller and the investor.

Thanks,   

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
5y
Originally posted by @Steve Morris:

See how easy disclosure is?   Now be the exception to the rule of wholesalers and actually practice it.

Sorry, I run across old people whose only wealth is their house and some WS comes along to take money that should be theirs and hides it from them.  Not ha-ha.

I just got an offer form a wholesaler  ( national chain) here in Oregon.. I own the house..  its worth probably 350k as a fixer.. 

they offered 260k.. LOL..  And had all their assignment clauses and affiliated business relationships .. told my wife they have one buyer that buys 10 homes a month in PDX market.. ( which no one does these days not enough inventory to do that)..  then it turns out the buyer is his company.. the lender is his company  LOL.. once you suss it all out.. 

I wrote him this morning and asked him if he minded if I sent the contract down to Salem to see what they think of it.. just to make sure in my own mind what these guys do pass's the sniff test at the state level.. 

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  • Tom GimerBusiness Member
    DMV · Member since 2017 · 3k+ posts · 3k+ votes
    5y

    @David Emanuel Who said wholesaling is illegal? Definitely not me. I just said in FL you need a RE license to do so... unless you can assign your contract rights without violating some pretty tough brokerage laws.

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