Wholesaling business is for dishonest, crooks?

[Account Closed]

My subject is not direct, but a legitimate question.

I recently got a prime follow up call for a prospect that could absolutely be wholesaled. Upon making an offer and coming to negotiating terms with the seller, I needed to find an attorney who is familiar with how wholesaling works. After reading a response to a forum posted by @Tyler O'Malley, apparently all RE attorneys are familiar with wholesaling or are able/willing to work with you. This is not the case at all. After several phone calls with attorneys, I have not gotten one single attorney who wants to deal with wholesaling because it is a "dishonest" thing to have the seller under the impression that YOU are going to close on the property and/or it is a waste of their time because "most of the time these assignments of contracts never work out". After giving it some serious thought, it does seem pretty dishonest to mislead the seller into believing YOU are going to close on the property and then worst case scenario ending up voiding it all together through a "weasel clause" and wasting everyones time. My question is can anyone convince me this is not a dishonest business and also is it possible to find an attorney willing to work with you without actually being dishonest with him too.

[Ryan Dossey]

These bash the wholesaler threads get pretty old. May not be your intention but I guarantee 9/10 people reading your title will come here to do that. There is a difference between tying up a property for months hoping you find a buyer and being a wholesaler. 

As a wholesaler (a term I don't mind calling myself) I provide a service. The property closes one way or another. I have private investors, a portfolio lender, HML, and cash. I make offers that are a great deal for me to PERSONALLY close on. If however I can make cash and not have to do anything.... Why wouldn't I?

Seller receives FULL upfront disclosure. I am buying your house for X because it needs Y. I work with other investors as well. I'm sure you don't care who's name is on the check as long as it clears right? 

I have NEVER used a "weasel" clause to "get out" of a contract. I have several buyers that come back to me for repeat deals, sellers send me referrals, and my clients love me. 

I have moved trap houses, homes with flooded basements, foundations that look like tectonic plates shifting, even one with mold/bug issues. Could the seller have sold the property without me???

Maybe. A solid majority of the sellers I talk to tried with no success. 

I may transition into "wholetaling" actually closing on everything and listing on MLS. I typically double close. I don't like assignments.

Most people have issues with people "marketing the property" using "equitable interest". If your contract gives you permission to market the property as an "owner by contract" I have no morale issues with it. 

Promising to close yourself and doing an assignment. I see the morale qualm. Being upfront and honest... I sleep great at night. 

My mentor told me the grocery store model is best:

"You don't want to sell a seller in the grocery store and have to duck around a corner. You want to walk right up to them and ask how the kids are." -Jerry Puckett

Final part of my rant.... A seller who knows I wholesaled her property (saw it marketed online for CONSIDERABLY more) has came to me and asked me to help them potentially invest the profits they got from selling to me. That says something.