Updated over 8 years ago on . Most recent reply
How many deals does the average wholesaler have on contract?
Hey all,
I attended my first REI meeting earlier this month, and I heard a wholesaler casually mention that they had "upwards of 50+ contracts locked up" - this is verbatim. I also remember when talking to my closing agent, he said that he had a client that filed the paperwork for over 50 contracts - and my closing agent confided that he wasn't sure how many that client would actually close.
From a numbers perspective, this seems kind of crazy. I know that wholesaling is a numbers game, and the number of properties that you CAN put under contract is directly correlated to the strength of your buyer's list. But from a beginner's perspective, thinking about becoming a wholesaler with 50+ feels like staring up at a cliff.
So for all of the experienced wholesalers out there:
- When you look at your pipeline, how many deals do you have on average?
- What is the average percent of deals that succeed and fail?
- For earnest money, whats your standard percent of the sales price