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Updated over 8 years ago on . Most recent reply

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Kent Mayes
  • Real Estate Agent
  • Corpus Christi, TX
1
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8
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Ethical numbers when developing Comps for wholesale deals.

Kent Mayes
  • Real Estate Agent
  • Corpus Christi, TX
Posted

Got an appointment coming soon to look at a property that needs some work. Meeting with some local full time investors about the property a few days afterwards. Question is ...

Is it ethical to ask a third party contractor to go with me on the initial viewing of the property KNOWING that some of the full time investors have their own construction crews they exclusively do business?  

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Andrew Johnson
  • Real Estate Investor
  • Encinitas, CA
3,790
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3,286
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Andrew Johnson
  • Real Estate Investor
  • Encinitas, CA
Replied

@Kent Mayes Maybe a good question to ask is if he knows you're wholesaling it.  If he does then he probably knows the lay of the land, knows that some local full-time investors have their preferred vendors, and is taking an educated risk that he's going to get the work.  If you're bringing him out because he think you're buying the property and are looking to rehab it, it's a bit of a different story.  Be transparent and (I'm guessing) there won't be any resentment if he doesn't get the work.  He might even want to go visit the property more if he thinks he can put in a competitive bid, get introduced to investors through it, and propel his business forward.  It might be an "easy" (not the minimize the effort of putting together his bid) to get his name out to cash-buyers who contract for rehab work in the area.  Regardless, be transparent and let him make the decision.

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