Wholesaling to experts

4 Replies

I have a potential seller for an awesome wholesaling opportunity and it does happen to be my first. The home will need an extensive exterior rehab and I still have to go take a look at the interior tomorrow at 11am. After a little research, I found out that the owners of the home happen to be an active Realtor and a mortgage broker. They also hold frequent flipping seminars to locals. They said they will entertain any offer but it must be significant. Are these red flags or should I still send an offer any way? Is there anything I should be aware of in this kind of situation?

There is a zero percent chance that you are getting a deal there. When you get there, they will start pitching you their flipping seminars. Don't waste your time. Why would they need you, a new wholesaler, if they are both in the business, especially with flipping expertise?

@Autumn Nieters ,

I doubt it's a good deal.  For a wholesaler/investor, it's all about buying the property at a discount while solving a problem for the seller.  Unless there's a problem they're facing where they need to sell quickly, you're not going to make this work - especially when they probably have a pretty good network of people who would buy it directly.

Move on.  But, watch it to see what happens.

I imagine this is not a deal. Why would a realtor who holds seminars on how to flip houses (so they have done hundreds of flips) be willing to let a wholesaler deal with their property? My guess is you will be getting pitched some guru seminar or something of the sorts being as you are a new wholesaler and that seems to be the target audience for most of these types.