Meeting with Wholesaler

[Victor Pierson]

Hi BPers! I'm meeting with an agent for a large wholesaling company. Are there any particular questions I should ask of him, or things I can bring up to ingratiate myself to him? Anything I should look out for? Red flags? I'm an all cash buyer with enough capital to buy a few properties at once. Thanks, Victor

[Andy Luick]

Not really - just look at some of their typical deals and run the numbers....we have several mega "wholesalers" in our market and they approach us all of the time. The ARVs and comps they often use are for completely different houses or different markets entirely. You don't have to "ingratiate" yourself with anyone....if you've got cash to burn...they want you! Don't rely on their rehab bids or the comps.....do your own due diligence and don't fall for the "have to have your answer tomorrow" nonsense. If the deal goes to someone else...who cares....there will be others! I have no idea where Spring TX is but find a local REI and network...or hit Craigslist to find tons of wholesalers. Almost everyone out here seems to be a wholesaler.

When you get to a deal, try to use your own attorney....form a relationship with a good investor real estate attorney...I use several in atlanta....and escrow your funds there.  Let us know how it goes!  You'll find lots of good and not so good advice here on BP - you just have to sort through it.  Start by networking with others in your immediate area....happy to help if I can!