Wholesaling... Opinions needed about it's affect on people and community.

[André Palmer]

Hello, my name is André and this is my first BP discussion. I am strongly considering getting into wholesaling in the Seattle area but had a few questions and thoughts.

Do any wholesalers out there have feelings of guilt when signing and assigning these contracts? Yes, the sellers are most likely motivated to get out of their current situation. But, we are attaining these distressed properties, typically passing them onto investors who plan to rehab and sell for a profit.

What I see may be happening is some kind of potentially negative affect on the sellers and neighbors. I dislike seeing neighborhoods gentrified and I would feel like I was partly responsible in a way. These people most likely have lived in the area for sometime are being pushed out (aside from absentee owners, probates ect.) making way for all the new to the area “techies”. The home values continue to rise but slowly the evidence of the culture and people that made the community are long gone.

In Seattle I am witnessing this happen in the Central District as well as Beacon Hill. Longtime residents of these areas are being pushed down south and up sprouts more condos and freshly painted, bright colored, renovated homes. All for sale at a premium of course. Is this just the way it goes in an ever expanding city? I’ve not done much research on that topic so anyone willing go right ahead and chime on in.

Is this the picturesque scene of an ideal neighborhood? Do we really want to see whole neighborhoods changed and dynamics ruined for business? Does anyone work to build an area up by purchasing, rehabbing and doing rent back at instead of pushing the community out?

Again, I’m just looking for honest opinions. And no, I’m not some kind of spineless someone to take advantage of, emotional kind of guy who isn’t cut out for real estate investing. I mean look at my profile pic, I’m not even smiling hahaha! This is just someone who is trying to view wholesaling from all aspects. Any input, negative or positive is welcome.

Thanks!