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Updated over 8 years ago,
Working with agent and wholesaler a good thing? Milwaukee, WI
Hi there!
I am currently working with a great agent, but I'm learning that it's very difficult to make the numbers work when making offers using the MLS. The market in the Bay View/Fernwood neighborhood of Milwaukee is hot and duplex's that need to be completely gutted are selling for $150k and up. 2% rule is out the window, but I feel I can get close with 1.5% if the purchase price is right. My strategy is to 'house hack' using the FHA 203k loan.
I know there have to be better deals out there. I'm thinking about looking for a wholesaler in my area or even doing the work myself if I have to (i.e. mailers, going door to door) to find the deal that makes sense.
My question is, will wholesalers work with agents and will I have to pay the agents 2.4% commission, if I find the property myself or if I find the wholesaler with a deal myself? I don't even know how to present this idea to my agent? I don't want to offend anyone with my ignorance of how things work in the real estate industry...
Any and all thoughts are appreciated.
Thanks!