Is Opendoor (and the like) putting pressure on off market deals?

[Hart Pearson]

I'm wondering if wholesalers and off market campaigners are losing deals due to the recent surge in ibuyers like Opendoor, zillow etc..? Are any of the sellers you talk to mentioning these?

[Kase Knochenhauer]

@Hart Pearson - we don't have any serious iBuyer programs in our area. However, I've had dozens of conversations with investors around the country. In general, we've all come to the same general conclusion in what we've seen in the last year:

iBuyer programs have a different targeted seller than most wholesalers and investors (the vast majority of their purchases require zero to very light cosmetic rehabs and are traditional buyers/sellers). They will be a competitor in every major city soon - however, their purchase techniques are unlikely to overlap with the majority of distressed sellers that we work with.