Wholesalers Are The Worst

[Philip Ganz]

I had a verbal agreement through a hard money investor to buy an 8 unit property in Providence Rhode Island from a wholesaler for 360,000.  The hard investor wanted to sell to me because I can get a bank loan and refinance the hard money loan making the hard money lender the 2 points. 

The wholesaler got the deal under the agreement for 320,000. The wholesaler then backdoors the deal and then tries to sell to someone else for 425,000.