Comical new wave of wholesalers

[Ryan Dossey]

I'm not one to dog wholesalers. It's how I got started.

For me wholesaling is: Marketing to off-market owners, analyzing a property, negotiating with the seller, and having the deal "funded" before even going under contract. I have private funds I can use to close if a buyer falls through and I personally fix/resell as well. 

This year I got the following treats: 

1) A gal snagged my email off of BP and added me to a daisy chain email offering me a local investor's deals with a $15,000 mark up! 

Poor girl had everyone on one email. I replied to all with his website link asking how she added 15k of value to this particular deal. I also requested to be removed from her list. 

2) A wholesaler filled out my "We Buy Houses" from on my website a half dozen times with FSBO's marked up $500.

He got a polite "knock it off". 

3) A wholesaler went under contract on an MLS deal and generously offered it to me a whopping $3,000 below MLS list price.

I forwarded his email to the listing broker recommending she double check his POF and it's source. She shouldn't hold her breath on it closing

[Jay Hinrichs]

Ergo 99% of folks who think they can jump in and be wholesalers end up Not doing anything.

our industry is overrun with this type of activity.  I personally will not let anyone put me on the buyers list... those who know me know me LOL... its funny when one will actually call me and ask and I tell them very firmly I am not interested to be on your buyers list..  they find me because this is what they are taught look up owners who have bought in the area for cash... so as you can imagine I get quite a few hits yellow letters post cards etc..

I don't know but to my way of thinking they are doing it *** backwards.. they should be looking for money first so they can close.. control the asset then resell it ... instead of what amounts to selling RE without a license