Question regarding a crazy wholesaler call....

[Nicole Candelario]

Hi guys. I'm so confused. As a new investor looking to buy a distressed property I contacted what I thought was a wholesaler from a Craigslist ad. He called me back and started by saying he doesn't assign properties. Hmmm....so I guess he was just marketing for sellers to fix, flip and sell himself. That's fine. I asked him if he would be interested in assigning me a contract as a newbie investor and he said yes. Then I told him I'd be using an HML and he said No that wouldn't work. Then his advice to me was to never use OPM on a fix and flip and that I should save money and purchase with my own cash. Then he said that if he did hand me a deal, the closing would be 24 to 48 hours with no inspection period or even time to look at the property. He said he figured all the figures ahead of time when he talks to the seller. My first thoughts were all red flags. I have been hearing here on BP that using OPM was a good thing and to figure the numbers myself. The "rush" concerned me. Please tell me your thoughts! Thank you!!