Reliable Wholesalers

[Scott Alfano]

How has your experience with wholesalers in the Central Florida area been? What criteria do you use when deciding whether a wholesaler has a good ear to the ground? How much of their ARV and comps do you take to heart versus running the numbers yourself?

Of course I know you should always run your own numbers, but when a wholesaler sends you an email with something like a "63% ARV" do you get excited or skeptical?

How many wholesalers do you generally communicate with? Are there any that you particularly recommend?

[Account Closed]

John, then you have not dealt with me! I have been a full time investor for 17 years and all the comps I provide my clients ARE based on real solds. Remember ARV calculations are based on a number of factors, not just solds. Unless you have access to the MLS to see the real differences between the sold houses (descriptions of condition and pictures) then it makes it difficult to come up with a real ARV. I AM a licensed realtor in Florida. Yes I provide many of my properties to my clients that I don't have an equitable interest in because I am an agent for the sellers. Providing a contractors written estimate of repairs needed is NOT NECESSARY when we have been doing this for so long we can give AN ESTIMATE of rehab costs. Yes look at all my threads and I am doing nothing but helping as many people as I can.

And YES I am selling properties with the best info that I can. Each property is different, so I am selling properties from 26% to 82% ARV. Some need alot of work and others don't with tenants already in place. I am marketing 57 properties all over central Florida with properties for all types of buyer interests, from Single Family Houses, Duplexes, Triplexes, Quads and small multifamily. I work with local private lenders that can provide up to 90% financing for purchase and rehab costs as long as the total is no more than 70% ARV. And I have another team that can rehab the properties, sell them or manage them with tenants.

I am also representing a company that owns 25 small (less than 50 units) multifamily properties in Chicago. They even provide owner financing and a complete turnkey operation. 

PLEASE don't judge me based on your bad experiences with other 'wholesalers'.