Vetting a wholesaler

12 Replies

I like to ask how many deals they have successfully closed. What is their source of business? What do they require to move a deal forward. 

Do they reach out to lenders to help with getting payoffs or discharges? Do they drive to the courthouse to make sure of a recording? Or do they sit back and expect the title company to handle everything? 

A property has to be transferred free of liens, mortgage, encumbrances, etc. Those documents (payoffs and discharges) are part of how that gets ensured to be done properly. Have you read the wholesaling blogs on this site? There is a lot of good information there. 

You ask them, how they found the deal.

What marketing they use. If it is not paid  marketing or SEO, you walk away!

Originally posted by @Alexander Johnson :

@Jerryll Noorden

Could you please dive a bit deeper into that comment for me?

I keep defending wholesalers on the boards, but I do have to admit, most wholesalers are a pain in the ***!

I am an investor.. right?

Wholesalers LISTEN UP,  I am an INVESTOR. I know all about stupid scripts.

"Hey I am a local investor and come across properties all the time that are not a good fit for me, would you be interested in..." STOP!!

I am not stupid. You are not looking to buy a single property,  so stop pretending you are a flipper and  ohh casually pass along a property that doesnt fit your flipping criteria. LYING is a turn off. 

You insult me by thinking I am so dumb to believe that crap..

Just say, hey man, I am a wholesaler and would you be interested in buying contracts from me if I bring you a good deal? MUCH better! So STOP listening to these stupid gurus and stop followingt the masses. How is it possible that all wholesalers in CT say the EXACT same thing? Who told you all to say that utter bullcrap??!?!

breathe Jerryll Breathe..

OK so happy face..

ummmmmmmmmmmmmmm  Zen namaste and all that hippy stuff..

OK so yes my dear, let me elaborate on that a bit.

Look  and learn!

Here is what a good wholesalers inventory looks like:

  •  OFF market properties
  • HIGHLY motivated leads
  • Leads you can sign over with ENOUGH meet on the bone left.
  • Leads that are NOT a waste of my time.

If you get your inventory from driving for dollars, cold calling, MLS, you are a waste of my time and a pain in my butt.

Bring  (well not me...) a lead that is of quality. Like my leads... people looking for ME to sell their house... not YOU looking for THEM to buy their house.

Seriously.. most wholesalers provide no value, and no it is not their fault. Can't blame anyone for trying to make it and hustle. But stop following the masses man. Bring value, think, rise above the noise. 

STOP LYING, be honest, be honorable. Stop giving all these clowns that love to hate wholesalers here on BP a reason to be right!