I talked to a wholesaler who basically told me he was raising the price 15k when he found out the original owner on the foreclosure property was no longer in the property just as I was about to make my offer. I had no way of verifying this one way or the other. It ruined my numbers for out of pocket expenses so I walked. He still has the property listed on his website after a few days at the original price. He also tried to get me to get him a 16k EMD when normal EMDs for properties like this aren't more than 5k. I would like to hear if anyone has had similar experiences. I am about ready to just start ignoring him and his listings. Would you work with such a person? He has a lot of listings but his behavior seems shady to me.
That's unfortunate. You did the right thing by sticking to your numbers. If he wants to play games, so be it, but if he wants your money, it has to be at the right price. If he wants to come back to the table for your price..then you might have a deal, but I would make sure to do your due diligence. Keep us posted!
Jordan Thibodeau, Check Out My BP Blog | https://www.biggerpockets.com/renewsblog/author/jordanthibodeau/ | Podcast Guest on Show #74
I would make sure if I was you I was totally researching that property completely on doing your due diligence and not allowing him to use his numbers. I think sometimes as wholesalers we under Market Homes so I don't know what his motivation may have been in this situation, but I would be skeptical.
@Daniel OKeeffe .IMO....pass on the deal...Integrity is key in any transaction. Listen to your gut...
Yes, I experienced with an investor, bidding on same property of interest.(he won bid(300) and tried to sell to me for 3K)..no go... It was frustrating but I confronted and it never happened again..can actually laugh about it now, but at the time, I was HOT!!!
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