Math not mathing on wholesaler lists

[Kris Villasenor]

As part of my investing journey, I'm now on quite a few wholesaler lists and receive off-market deals almost daily.

On properties I'm interested in, I'll get into the research on the property and then run numbers (working hard to develop these skills), and then I'll notice that some of these deals aren't deals.

For example a property is being wholesaled for 120k, but was last bought in 2022 for 60k, it needs a ton of work (30k est), it's vacant, and they say'll it'll ARV at 180k and the neighborhood comps (both nearby sold properties and even rents actually) do not support that ARV. It won't cash flow, and it's like the wholesaler wants the appreciation before it, you know, appreciates.

It feels like some wholesalers are hyping up properties to out of state investors (of which I am one) and they are banking on us not doing even the basic amount of calculations.

I wouldn't touch quite a few of these wholesale "deals", and am wondering what the purpose of wholesaling is actually. Is there something I'm missing?