Buying First Property From Wholesaler

[Jon Lallande]

Hi BP,

I’ve finally found what I think is a great first investment property. My only concern is that I’m buying the property from a wholesaler. I’ve purchased a house before so I’m somewhat familiar with buying a home but I have no experience at all with wholesalers.

I’m looking for someone who has experience buying from wholesalers to have a conversation with. I’ve plugged in all the numbers conservatively and I’m looking at a 16-17 percent cap rate and 12-13 percent cash on cash return.

My offer has been accepted by the seller and I have the assignment contract now. I’m willing to discuss all the details about the property and I am open to partner on the deal if anyone is interested.

Thanks!