What Are the MAIN PROBLEMS with Wholesalers?

[Andre Vaughn]

I recently got my first property under contract in the St. Louis, MO. market (Florissant, MO. to be exact).  I do not have a buyers list but yet I have managed to make some great connections regarding my area where i intend to market.  Though i know and understand that we all make mistakes especially as newbies, I am one that strives to do things the proper way to avoid the common mistakes.  My question to the experience wholesalers and cash buyers is What are some problems and pitfalls that you have experienced dealing with wholesalers and how did you avoid or correct those issues?  Thanks!

[Andy Collins]

My biggest problem with many or most wholesalers is they don't know the ARV (but state one way too high), don't know the true cost of repairs (but state one way too low), and think they have a deal when they don't.

I had a recent wholesaler state the ARV on a property was $155k,,,,I have a house down the street that I just got an appraisal for $115k, and I was surprised it was that high.....if I see a wholesaler stating an ARV way off in an area I know, I don't trust any of the information on other listings they send me