All Forum Posts by: Naga A.

Interestingly, I have SFRs in three of the top ten cities of the list; Atlanta, Tampa and Las Vegas. It has been working out fine so far for me, but if I can go back in time, I would've invested in one city. Having houses in more than one city creates headaches more than anything else.

Hey Jeff Smith,

Calm down. Seem like you have misunderstood my post. I was only talking about my experience.

My experience was that Wholesaler A and Wholesaler B approached me with the same property at the same time. Wholesaler B saw Wholesaler A's deal somewhere, added $3000 profit to the price and tried to sell it to me.

I realized that Wholesaler B tried to make a quick buck off somebody else's deal. Since then, every time Wholesaler approaches me with a "deal", I assume that is not his deal but it is someone else's (and usually, that is the case.).

I do not know where the Wholesaler D talk comes from, and that seems a very different scenario.

Aaron Churnick

In that scenario, I would buy the property from Wholesaler A. I do not know if it is principal things, but rather, it is more a trust issue to me.

If I find out a wholesaler tries to make a quick buck off other whosaler's property or from MLS listed property, I would try to skip him and buy from the source, i.e. Wholesaler A or MLS.

K. Marie Poe
On more than one occasions, I received information about a "deal" from multiple wholesalers and they were talking about the same property.
Wholesaler A asked for $50,000 and Wholesaler asked for $53000 on the same property. Clearly, Wholesaler B is double flipping and trying to make money quick and easy.

May be it just me, but I stopped taking Wholesaler B seriously after I found out what he was doing.

I rather want to work with a wholesaler who does leg work himself to find a good unlisted deal for me.

I would not recommend you doing it. I think you would lose credibility as a wholesaler if buyers find out what you are doing. Personally, if I find out somebody wholesaling a wholesale deal to me, I would stop taking him seriously.

My PM charges $250 for lease renewals. They also charge one month rent for placing a tenant. Seems it is pretty norm in Atlanta.

Andy Bankston

Looks like my request to be a colleague is still pending. Can you check inbox and accept my request?

Ok the termite inspection is in. As I suspected, termite infestation is active, and it is all over the house including the foundation.

I spoke to my project manager and contractor and we all agreed that we should back out of the deal.

Now, I will speak to the wholesaler and ask for a refund of $1000 EMD, claiming that they warranted that there was no major defect in the house and there is a major defect.

I am not sure if the wholesaler resists refunding the EMD. we will see...

Lynn M.

That was not what I was sure about.
I was not sure if the extensive termite damages constitute a "major" defect, where I could back out of the deal and ask for a refund of the EMD. Or, by not noticing the termite damage by walking at the house for the first time, I would have to give up the EMD and move on as a lesson learned.

I am willing to work with the seller but negotiate to reduce the price unless the damages are so extensive that there is a structrual damage. The termite inspection will be done within a couple of days so that I can figure out the extent of the damage.

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