What Gets Your Attention First?

Question

Drew Sygit · Answer

In my 25+ years of investing, 95% of Wholesalers don't last a year.

Why?

Because they don't INVEST in their own wholesale business to become an expert🤢

Go buy a used car - the salesperson will tell you all about the car, the mileage, what work they did to it, the specs when it was new, etc.

What info do wholesalers provide?- Inflated "as-is" values- Inflated ARVs- Low-ball repair amounts- Inflated monthly rental amounts

Yeah, I get it - focusing on the best-case scenario is what sales people do. It's how they make the most amount of money possible from a transaction.

But, when so many variables are ALL so outside "average", I don't even bother paying attention.

Layer on top of all this, "No Inspection" and "Cash Only" conditions and it's even more of a potential rip-off!- Most real estate transactions have "built-in" protections for buyers via inspections and appraisals.

So, what info would I expect from a Wholesaler to get me to look at their deal:

1) Comps to support ARV2) Comps to support AR rent3) An accurate list of repairs needed or Scope Of Work (SOW)4) Prefer to figure out my own rehab budget from a SOW, but would also be helpful to have an estimate!

How hard is it to get this info?1) Pay a Realtor for a CMA2) Pay a Realtor for CMA or provide rental data from Zillow, Rent-o-Meter and Realtor com (MLS)3) Pay a reputable contractor for a SOW4) Pay same contractor for a bid(FYI: if you offer to pay 10-20% more, you may be able to cut a deal with agent & contractor to delay their payments until sale)

Oh wait, you mean you have to invest money in your business?

What SUCCESSFUL business doesn't?

Sara Joe · Answer

One thing I've noticed is that the source matters, but what really catches my attention is how much context comes with the opportunity. When a lead comes from a cold calling conversation instead of just a property list, you often have a much clearer picture of the owner's motivation, timeline, and openness to selling. That context can make the evaluation process much more efficient than starting with raw data alone.

Interested in hearing how other investors weigh seller motivation versus the property's numbers in their initial review.