Are all wholesalers act like this?

[Nick B.]

I've never dealt with wholesalers before but I heard and read that they could routinely find properties for 60-70 cents on a dollar.

So, I signed up to be on a buyers list of a wholesaling company that has a good reputation in my market (name is irrelevant at this point).

They started to call me the very next day. Every time it was "a great deal", "slam dunk", "you must act quickly" type of call.

Once they presented the property details the deals were not that great at all. In fact two were straight from MLS - once marked down a little, and another one marked up by 20%!

The comps were also questionable and I have no idea if their repair estimates hold any water.

Needless to say that I passed on everything they had to offer so far.

Now I wonder if what I experienced is a norm or aberration.

Thanks
Nick