While this is something i am interested in i wanted to know how do you tactfully wholesale and is it best to tell the seller your intentions from the beginning. seems like its kind of misleading at times. Have you guys ever ran into any problems as in a seller backs out when they see youre not the actual buyer or the seller feeling you were disingenuous?

Hi Louis, I always feel like honesty is the best policy. In my offer letters, I let the potential sellers know I am interested in purchasing their real estate with the intention of selling it again quickly. 

@Louis Ford ,

As they taught you in kindergarten, honesty is the best policy.  If you can't be honest with the seller, you are doing a disservice to them and to yourself.  If you find yourself nervous about the seller finding something out, steel yourself, embrace it, and tell them outright.  If a seller is in distress, they generally don't care if you buy it or if you assign it.  They only want to get it sold.

UNLICENSED BROKERS and the word "integrity" do not go together. Consider that unlicensed brokers are skirting and breaking brokerage laws. There is NO integrity dealing with someone like that. We have some LEGAL LICENSED AGENTS locally that wholesale. They close if they cannot find a buyer. Others actually close and then resell. Closing and reselling does not require a license and never leaves the seller in a bad spot.

A wholesaler should have to inform the seller that they are in fact a wholesaler, and not the end buyer, if they want to claim integrity.

How many do that. 

This is why we need laws. 

Originally posted by @David A. :

A wholesaler should have to inform the seller that they are in fact a wholesaler, and not the end buyer, if they want to claim integrity.

How many do that. 

This is why we need laws. 

None. And then they walk away using BS escape clauses saying it did not meet inspection needs or their "partner" did not approve. These guys are full of you know what.....

@Louis Ford is you want to build a sustainable business it have to be built on a firm foundation. This foundation should be honesty. Inform the seller that you have investor partners that fund the deals and they will make the final decision. I would highly suggest you get your license for 2 reasons.

1. To operate in full integrity

2. You have multiple exit strategies. If you can't wholesale the deal, then you can list the property for them.

Just do the right thing

Originally posted by @Amy Aziz :

Hi Louis, I always feel like honesty is the best policy. In my offer letters, I let the potential sellers know I am interested in purchasing their real estate with the intention of selling it again quickly. 

 What is their response when you tell them that usually i imagine they would be okay with it but im sure you get some cold shoulders as with anything dealing with ppl i suppose

Originally posted by @Marcus Maloney :

@Louis Ford is you want to build a sustainable business it have to be built on a firm foundation. This foundation should be honesty. Inform the seller that you have investor partners that fund the deals and they will make the final decision. I would highly suggest you get your license for 2 reasons.

1. To operate in full integrity

2. You have multiple exit strategies. If you can't wholesale the deal, then you can list the property for them.

Just do the right thing

 Thanks marcus...i did put thought into the license..wholesaling is not my end game...i just wanna use that to fund my investment in a commercial property 

Originally posted by @John Thedford :

UNLICENSED BROKERS and the word "integrity" do not go together. Consider that unlicensed brokers are skirting and breaking brokerage laws. There is NO integrity dealing with someone like that. We have some LEGAL LICENSED AGENTS locally that wholesale. They close if they cannot find a buyer. Others actually close and then resell. Closing and reselling does not require a license and never leaves the seller in a bad spot.

 I hear you..did you have a bad experience with a wholesaler or are you just that naturally abhorrent towards this angle on real estate ?

Originally posted by @Louis Ford :

Originally posted by @John Thedford:

UNLICENSED BROKERS and the word "integrity" do not go together. Consider that unlicensed brokers are skirting and breaking brokerage laws. There is NO integrity dealing with someone like that. We have some LEGAL LICENSED AGENTS locally that wholesale. They close if they cannot find a buyer. Others actually close and then resell. Closing and reselling does not require a license and never leaves the seller in a bad spot.

 I hear you..did you have a bad experience with a wholesaler or are you just that naturally abhorrent towards this angle on real estate ?

 I have seen several victimize sellers.

Originally posted by @David A. :

A wholesaler should have to inform the seller that they are in fact a wholesaler, and not the end buyer, if they want to claim integrity.

How many do that. 

This is why we need laws. 

 I am personally uncomfortable operating in shadow like that...not being upfront...which is why i posed this question...i know some wholesalers who operate this way 

@Louis Ford , I get negative and positive feedback but the people who I end up purchasing from actually end up selling me more land or refer me to their friends. 

Originally posted by @John Thedford :

Originally posted by @Louis Ford:

Originally posted by @John Thedford:

UNLICENSED BROKERS and the word "integrity" do not go together. Consider that unlicensed brokers are skirting and breaking brokerage laws. There is NO integrity dealing with someone like that. We have some LEGAL LICENSED AGENTS locally that wholesale. They close if they cannot find a buyer. Others actually close and then resell. Closing and reselling does not require a license and never leaves the seller in a bad spot.

 I hear you..did you have a bad experience with a wholesaler or are you just that naturally abhorrent towards this angle on real estate ?

 I have seen several victimize sellers.

 How so?..do you care to give insight into a particular situation? 

Originally posted by @Amy Aziz :

@Louis Ford, I get negative and positive feedback but the people who I end up purchasing from actually end up selling me more land or refer me to their friends. 

 Thats great and thats the type of relationships id like to establish...square dealing...nothing to hide

All Integrity Matters.

Originally posted by @Louis Ford :

Originally posted by @John Thedford:

Originally posted by @Louis Ford:

Originally posted by @John Thedford:

UNLICENSED BROKERS and the word "integrity" do not go together. Consider that unlicensed brokers are skirting and breaking brokerage laws. There is NO integrity dealing with someone like that. We have some LEGAL LICENSED AGENTS locally that wholesale. They close if they cannot find a buyer. Others actually close and then resell. Closing and reselling does not require a license and never leaves the seller in a bad spot.

 I hear you..did you have a bad experience with a wholesaler or are you just that naturally abhorrent towards this angle on real estate ?

 I have seen several victimize sellers.

 How so?..do you care to give insight into a particular situation? 

BP member put a house under contract. Here are the numbers and results:

Contract price 537k

Tried to assign well over 600k

Actual FMV 400k LOL

$20 EMD

BS buyer walked

Female seller broke out in tears

Male seller had heart palpitations

Oh..seller sent a BS "inspector" through the house

I have 1st hand knowledge of more. I was the one that broke the news to the sellers.  

@Louis Ford It's how I go through life, direct, honest and simple. lol, no fluffy here. Thankfully, 10 plus yrs in customer service helped me in eliminating BS and built tough skin. 

just be upfront with the seller “ guys this isn’t a property I’m looking to hold in my own portfolio but I have an idea to solve your problem .. guys Being an investor I know lots of other investors who would jump on this property and I’m also great at marketing homes in this condition and area .I can get this sold for you in 60 days at X amount if I can take a reasonable commission over that and if I can’t .. well then your fee to call a realtor or list it with somebody else but I know I can get the job done and fix your headache .”

Originally posted by @John Thedford :

Originally posted by @Louis Ford:

Originally posted by @John Thedford:

Originally posted by @Louis Ford:

Originally posted by @John Thedford:

UNLICENSED BROKERS and the word "integrity" do not go together. Consider that unlicensed brokers are skirting and breaking brokerage laws. There is NO integrity dealing with someone like that. We have some LEGAL LICENSED AGENTS locally that wholesale. They close if they cannot find a buyer. Others actually close and then resell. Closing and reselling does not require a license and never leaves the seller in a bad spot.

 I hear you..did you have a bad experience with a wholesaler or are you just that naturally abhorrent towards this angle on real estate ?

 I have seen several victimize sellers.

 How so?..do you care to give insight into a particular situation? 

BP member put a house under contract. Here are the numbers and results:

Contract price 537k

Tried to assign well over 600k

Actual FMV 400k LOL

$20 EMD

BS buyer walked

Female seller broke out in tears

Male seller had heart palpitations

Oh..seller sent a BS "inspector" through the house

I have 1st hand knowledge of more. I was the one that broke the news to the sellers.  

 While that is a less than fortunate situation (and one of many) thats what i as a potential wholesaler want to avoid...i have no problem being upfront and not operating in shadow...so while i cant speak for others i can definitely say this is a situation that would never be likened to me...transparency is a lot less stressful 

Originally posted by @Dennis M. :

just be upfront with the seller “ guys this isn’t a property I’m looking to hold in my own portfolio but I have an idea to solve your problem .. guys Being an investor I know lots of other investors who would jump on this property and I’m also great at marketing homes in this condition and area .I can get this sold for you in 60 days at X amount if I can take a reasonable commission over that and if I can’t .. well then your fee to call a realtor or list it with somebody else but I know I can get the job done and fix your headache .”

 Tactfully presented...thank you for your comment 

Originally posted by @Amy Aziz :

@Louis Ford It's how I go through life, direct, honest and simple. lol, no fluffy here. Thankfully, 10 plus yrs in customer service helped me in eliminating BS and built tough skin. 

Transparency is so much less stressful and  Yes indeed i hear you on that tough skin...its a vital attribute to have...ppl can get nasty i try to prepare myself for that as it seems some ppl dont respect the wholesales approach for various reasons 

@Louis Ford

There’s been plenty of licensed realtors who ripped sellers and buyers off and lied to them about the condition of the house when selling it ( I know cuz I’ve been a victim of such Tom foolery) and they have no problem taking 6% of the total amount from the seller plus fees . This bleeding heart bs about how evil wholesalers are screwing everyone is not presented right in my opinion . If you do real estate right everyone can win . Assignment of a contract can be a good win for all parties involved if it’s done right

Originally posted by @Dennis M. :

just be upfront with the seller “ guys this isn’t a property I’m looking to hold in my own portfolio but I have an idea to solve your problem .. guys Being an investor I know lots of other investors who would jump on this property and I’m also great at marketing homes in this condition and area .I can get this sold for you in 60 days at X amount if I can take a reasonable commission over that and if I can’t .. well then your fee to call a realtor or list it with somebody else but I know I can get the job done and fix your headache .”

 That appears to be brokering WITHOUT a license which is ILLEGAL. Sounds nice...but probably a violation of the law.

Originally posted by @Louis Ford :

Originally posted by @Amy Aziz:

@Louis Ford It's how I go through life, direct, honest and simple. lol, no fluffy here. Thankfully, 10 plus yrs in customer service helped me in eliminating BS and built tough skin. 

Transparency is so much less stressful and  Yes indeed i hear you on that tough skin...its a vital attribute to have...ppl can get nasty i try to prepare myself for that as it seems some ppl dont respect the wholesales approach for various reasons 

Do people that skirt and break brokerage laws deserve respect? NO! The same goes for dishonest agents that do the wrong thing. NO.