Wholesaling in Toledo Ohio

[Lovell Hawkins]

Hello everyone I live in the Toledo Ohio area and I don’t know very much about real estate. I want to get my foot in the door and I’ve heard that wholesaling is a great way to start investing, but I have also heard people say that wholesaling is illegal and very unethical. I would love to hear your guys opinions and advice on wholesaling.

[Andrew Fidler]

@Lovell Hawkins

The good thing about real estate is there are innumerable ways to make money. 

Wholesaling seems to be the default startup method recommended by gurus to get started with little money. 

That said I’ve been in the business for a decade, purchased a hundred of properties for my own portfolio and not once has a wholesaler managed to get close to my strike price for properties. It is quite common for a wholesaler (fresh out the gate) to tell me about a great deal only to figure out 1) they have no clue because they just don’t know what they don’t know yet. 2) their contract price is too high for reason #1. 3) they want to make $5k on an overpriced deal. 

About the best success I’ve had so far is getting the wholesaler better into and evidence to show the seller why the price has to be dropped. (And why do all that when it’s faster and easier to simply find my own deals and negotiate them)

Conclusion is even if I was broke tomorrow I would not wholesale property. I don’t see it as a viable strategy more as trying to be a realtor without the license. 

What I can offer you is an opportunity to come out to my office by the airport, sit down and I can tell you how I have made a success in Toledo. If you are interested I am quite able to pay you to use your hands and/or head to renovate, rent,   or train as a realtor to buy/sell. (I will have my brokers license by Spring, until then I’m an agent of Stonehenge Realty)

[Kerry Baird]

What a great opportunity ^^^ @Lovell Hawkins.  Game on!  

Report back in a year!

[Lovell Hawkins]

@Andrew Fidler That sounds great I would to sit down and have a meeting with you.

[Adam A.]

@Lovell Hawkins

 Here is why wholesaling is illegal in Ohio.  

Adam Atassi

[Lovell Hawkins]

@Adam A. Thank you that video was very helpful

[Andrew Fidler]

@Adam A. - Really good video Adam, the Division of RE is a great resource and definitely not someone you want to be on the wrong side of!