For a retailer, what makes a good wholesaler?

Question

Wondering if rehabbers or any other retailers could offer opinions on what makes a wholesaler pleasant to work with? Obviously, making sure you get a good deal, but what makes you want to work with a wholesaler again, and what has made you not want to work with one again?

Brian Christensen · Answer

See thats how I would dress going out with my friends to a club, not coming into the office of someone who is going to be paying me.  My "business" attire is always a pair of dress pants, and button up and a nice pair of dress shoes.  I dont like to wear suits, but I'm not going to come in looking like usher from the "yeah!" video.

I know its not good to pass judgement, and I commend you for not doing that, but come on...if someone doesnt have the common sense enough to dress appropriately for someone you're attempting to sell something to

Account Closed · Answer

Right!  During the summer months I am all about comfort.  I wear shirts with the sleeves ripped off and Nike comfort shorts but when I go to a closing or to meet contractors or whatever I dress a bit different!

John Rodgers · Answer

Thats funny because thats how I usually dress but I wouldnt dress that way doing buisness.

Account Closed · Answer

I met a wholesaler a few months ago that was pushing a house.  He walked in with an oversized Scarface tshirt on, an oversized black jacket, lots of jewelry, a bandana on his head with a crooked hat over it.  I decided to look past my judgements of his appearance and listed to what he had to say.  He seemed okay enough, so we went to look at a house he had under contract.  Nice house, blah blah, I decided to make an offer.  It was a short sale.  From there this guy had zero idea what he was doing.  His contract was a joke, looked like it was written by a 2nd grader, plus he couldn't explain the process to me.  Just not a good deal.

If I work with a wholesaler again I want somebody that at least knows what the hell they are doing and doesn't look like a clown.

Andrew Massaro · Answer

I think you need to repost in a different forum.  I doubt many, if any, buyers and sellers of retail property linger in the wholesaling forum.  If I had to take a guess on your question, I would say that a great deal trumps any personality or character flaw.  You can be a total jerk, but if you're offering property at $.50 on the dollar, people will buy.

Eric Foster · Answer

Good deals, accurate comps, and accurate estimates for repairs…

A wholesaler that recently called me thought a property was worth 25k more than what I thought the full retail value was.

He was frustrated that I didn’t want the deal and insisted the home was worth more… And continued to try and convince me of this.

After running the deal by other investors, he could not sell the property.

Fast forward 3 months later… the house has now been foreclosed on, and is now listed with a Realtor. And guess what? It is listed for right at what I had said it was worth (retail) 3 months earlier.

Now that it has foreclosed, I can now probably pick it up for about 10k less than he wanted 3 months ago…

Wasn’t interested then… not interested now…