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Updated over 8 years ago on . Most recent reply

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John Platts
  • Hollywood, FL
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Wholesale Buyers Lists Question

John Platts
  • Hollywood, FL
Posted

In the last month or so I began subscribing to various wholesaler's buyers lists. I get emails about three or four times a week with photos of 3 to 10 properties various wholesalers are offering at that time.

I noticed immediately that every wholesaler (about a half dozen to this point) are offering the same exact properties. I've even noticed some of the same properties have a different asking price. 

How do I know who the wholesaler is who has the actual contract to assign the property? Does it even matter if a particular wholesaler doesn't have the contract to assign as long as the deal is right and that wholesaler can lead me to the owner? I'm in Florida so if I understand the laws correctly, if you don't own the home or the contract to assign it you're not legally able to market it. Is that correct? 

Any clarity you can provide is much appreciated. 

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Chris Seveney
  • Investor
  • Virginia
15,639
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

@John Platts - many of the wholesalers out there are what Scott Carson who term a "joker broker" - they are not wholesalers they are just taking lists and passing them down and putting a fee onto it. I recommend going to your local REI group and when you start talking to people you will learn quickly who the legitimate wholesalers are and who you don't need to waste time with. I am in the DC market and I get listings from wholesalers listing properties off of MLS for a higher price than its listed for on MLS.

  • Chris Seveney
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