wholesale: do I disclose address initially to buyers?

[John Smiths]

HI

Relatively new here. just signed the first property that I will wholesale. I got a letter to send to buyers here on this site, I got a list of cash buyers off the MLS. Now I am putting together a flyer to include with the letter. Should I disclose the property address on the flyer? My thinking is that a buyer can backdoor me and go directly to the seller and offer more than my contract and less than my flyer price. Yes, I know if a buyer tries to backdoor me and go to the owner I have the contract but I don't want to have to go to court and get all complicated.

Thanks for your help

John

[Anthony Thompson]

John, since you don't know any of the people on your mailing list, I would definitely not put the property address on the flyer. I would put the neighborhood or nearest major cross street if that's more precise/useful.

I would be careful sending out a flyer to buyers, that you don't advertise as if you own the property. My understanding is that in most states due to real estate licensing laws, you can't advertise something you don't own. Instead, you are advertising a contract to buy a property - that's what you're selling, the contract, not the property itself.

(I'm not an attorney so I'm just raising an issue you may want to discuss with an actual attorney, but you may find this series of videos on wholesaling which was made by an attorney in Ohio to possibly be applicable to your situation.)

In general I'm much more in favor of spending time to build relationships with a smaller number of buyers you've met with a few times and vetted a bit, instead of doing a mass mailing campaign - the "rifle" approach rather than the "shotgun".

If you decide that's something you want to investigate, you could contact active people here on BP and/or go to your local real estate investment group such as RIREIG in RI or Black Diamond REI in Mass to start building relationships.

Good luck and let us know how it turns out of course!