Recommend Wholesale Books

[William Parker]

Hey everyone! 

What are some recommended books to learn about wholesale?

What are some pro’s & con’s to wholesale as well?

[Mike Schorah]

Quote from @Rich Carey:

You want to learn wholesaling, then do some work for a wholesaler.  learn the business from the inside.  Let them train you to find the properties and make the calls, and watch how they do the marketing.

The pros are not needing to rehab properties before selling them.  

The Cons are you need an extensive network of buyers you can reach or you'll have trouble selling your deals.  You will be unable to sell properties you get under contract, and this will leave your sellers in a bad position and give you a bad reputation.  This is a common problem for the newbie wholesaler.

 How exactly does it give you a bad reputation? How would the sellers find out about each other?

Unless you're referring to a bad reputation with the end buyers. In that case, if a deal is hot enough, why wouldn't an end buyer go for it? 

Or are you referring to newbie wholesalers who typically overestimate ARV and underestimate rehab costs?

I've seen long time wholesalers on this forums say that 1/4 of their deals don't close. If what you're saying is correct, then wouldn't that put them out of business?