Do Wholesalers get a bad rap?

Question

Would paying a few points for flash funding help you to be more discreet with buyers?

Chris Seveney · Answer

@Andrew Rosenberg

Yes because many of them sit behind a computer in another state making offers on mls properties or daisy chaining other deals and have never even visited the property to know what needs to be done

Adam Bartling · Answer

We see wholesalers with no idea of cost of renovation or true APV.  The good ones leave meat on the bone and understand all of almost all of the $ made will come from volume

Eliott Elias · Answer

The bad ones do, it's completely unregulated in most states and big box wholesale companies give them a bad name. They just hire a bunch of college kids with no experience in RE to go out and unethically do business.

Nick C. · Answer

If flash funding is anything like transactional funding, a few points is too much. In our area transactional funding is done at 1 point or less.

Jason Sousa · Answer

Ive noticed that about New Western for sure.

Andrew Rosenberg · Answer

This is a fair assessment and "it depends" is a fair answer.

Max Ferguson · Answer

As others have stated, it really depends. I believe that a lot of newcomers think that wholesaling is an easy process which only takes 2 weeks to create massive wealth from. As we all know, this isn't the case and Real Estate is the long game for most. Having no capital when wanting to invest isn't the most fun, so people see this as an out, not understanding the true scope of how much research it can take to adequately pull off. With that being said, a good wholesaler is worth their weight in gold. They benefit everyone with a transaction and aren't just trying to make a quick buck. As always, relationships make money in Real Estate, not screwing someone over on a crap deal.

Bob S. · Answer

Many do many do NOT. I get 20 deals a week sent to me, some are great the wholesalers actually knows about the property and have experience in the area, others not so much LOL. I have clowns trying to sell me props in a complete war zone, but say hey the ROI will be 25% net, on paper maybe. Have no idea about the area, no clue how much repairs are needed, if the tenants are paying or not or even if they want to stay. I have some try and sell me my own property, yes my own property. Overall, I would give wholesalers a 5 on a scale of 1- 10.

Do Wholesalers get a bad rap?

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