What The H*** Is Wrong With Wholesalers

[Jeremy Tillotson]

Ok I am just going on a rant tonight. I get an email from a guy trying to sell me a house I have already looked at and know who is selling it. The price has dropped but I explain to him that I know who is selling it and they only give quit claim deeds, and I wouldnt accept a quit claim deed. He says no problem so I ask him if he has pulled title on it yet, as I know there are liens on it, and he says no but I will. I HAVE LOOKED AT THIS HOUSE AND PULLED TITLE, I KNOW THE OWNER, WHY THE H*** WOULD I LET YOU WHOLESALE TO ME? He then sends me 4 more listing from the same seller and ask if I want to see them. IF YOU DONT HAVE A CONTRACT YOU CAN NOT WHOLESALE!

WHOLESALERS NEED TO BRING VALUE TO A DEAL!  Even  if I wanted this I could cal the seller and not have to worry about his markup!

[Jerry Puckett]

Oh thank goodness!! I thought a whole week was going to go by without another wholesaler rant!! 

You think wholesalers have issues? Try working with some "Investors" who think they want to buy and hold with their newly cashed out IRAs Or a whole new crew of Newbie Flippers every three months. Can't make up their minds, over pay for all their repairs, cry about a non refundable deposit, want a complete contractors write up just so they have something to nit pick, or worse, want a guarantee that's all the work to be done! 

Wholesalers, here's a novel concept that has worked for me for years. Do your due diligence to be sure....you have to anyway before you can make an offer. But there's not a good reason to share that with your Buyer. They are going to do their own due diligence anyway, and any discrepancy between the way you think and the way think will ONLY put you in a negative light with them.....as demonstrated by many a wholesaler rant....(Never mind that any two Investors or contractors will have differing opinions anyway!)

Don't give them ARV, FMV or any other speculative number. Two numbers, and two only do I ever give my Buyers.....the address and the price I want. Serious buyers will have an answer for you in an hour or two and a check for the deposit by the end of business that day. If your buyers are not behaving like this, you have the wrong guys. Ditch the whiny babies and go find a real one.

I have folks lined up for my buyer's list all the way to Australia...I need more buyers like a hole in the head. I have exactly 3 on my list that buy 98% of what I get under contract before the ink is dry. Craigslist takes care of the other 2% Buyers are a dime a dozen. Those that want to rant....man up and go find your own deals; then you'll have nothing to complain about.