Wholesaling to real state agents

13 Replies

@Brian Pulaski so you need to have a motivated buyer before you find the seller. Right? Especially if people are asking for proof of funds. I think I am most concerned about finding a deal and getting it under contract and then that time in between obtaining the contract and finding a motivated buyer. Nate

@Nate Stitchell if your plan is to wholesale, my advice is be honest with the seller. Flat out tell them you aren't the buyer. If you try and deceive them into believing you are the cash buyer, and the deal falls through, it is your name that looks bad. I don't wholesale. I see nothing wrong with it, assuming you are upfront and honest. If you tell them this from the start, then no you probably don't need to show them a POF, until you have a buyer. If you lie about you being the cash buyer, then you will need to show them something about funds (POF, hard money POF, pre approval from a bank, etc).

@Brian Pulaski Brian thank you for that. I re-read what i said I did not mean for it to sound as if I was planning on being dishonest. I too believe that it is important to be straight up. I just am trying to understand if when you approach a wholesale opportunity do you literally say “I help buyers get into homes” ?
Originally posted by @Nate Stitchell :
@Brian Pulaski Brian thank you for that. I re-read what i said I did not mean for it to sound as if I was planning on being dishonest. I too believe that it is important to be straight up. I just am trying to understand if when you approach a wholesale opportunity do you literally say “I help buyers get into homes” ?

No idea what you would say, other than explain what you offer to the deal.

Regarding wholesaling a property that has an agent listing it... I see no reason to do this. Why wouldn't your cash buyers have made an offer on the house with the agent at a lower price? If it works, great, but trying to wholesale properties listed with realtors is probably a dead end road.