Wholesale Listing Database South Florida

[Harold Carter]

As an investor, I am trying figure out how wholesale listings work in South Florida.

I stumbled upon a property, as a cash buyer, and before I could present the offer, a wholesaler got it under contract.

Now the property is over-priced from an investor standpoint and it is plastered all over the internet on these maverick type real estate websites promising the sizzle without the steak.

In fact, I am seeing other properties both pending and active MLS properties on these sites with differing prices, sometimes higher and sometimes lower than MLS prices.

What the heck is going on and how are these wholesalers sharing the data between one another? It almost appears that there is a black/gray market MLS system that "wholesalers" are using here in South Florida.

Also, seems to be some sort of pecking order.  The wholesaler who got the property under contract and then a network of wholesalers trying to push the property to their buyer lists.  Seller-> wholesaler #1 -> wholesaler #2-> End-User/Investor

I am trying to figure out how they are marking it up and what it takes to become a member of this service that appears to be much like an MLS, so I can cut out as many middle men as possible.