Hey Wholesalers I need your feedback!

[Michael Chase]

So I recently heard a 15+ year veteran in the Wholesaling game say that you should never go see a house unless you have it under contract. It reminded me of the first investment seminar that I ever attended, and the presenter said firmly and boldy "DO NOT, and I repeat DO NOT GO SEE ANOTHER HOUSE UNLESS YOU HAVE IT UNDER CONTRACT."

So my question to all of you wholesalers is, do you lock it down before even seeing it?

And if so, how do you determine an offer price without knowing repairs?

[Terri Lewis]

Not looking at the house before making an offer could be a disaster. We thought we found one that was really close to the number we would want to offer. The home owner was asking $60k, and we figured we could make on offer on it for around $45k. ARV should nave been around $85k. When we went and looked at it, it was barely worth an offer of $10k. It needed more than a wall put in to turn it back into a 2 unit and a coat of fresh paint. Both furnaces were gone, needed foundation and brick repaired. roof was bad, I cold go on for a while over how bad of shape it was in.